Infoblox Busts Big IPO Move

Shares of Infoblox climbed rapidly on the company's debut as a public company on Friday as investor appetite for tech IPOs continued.

Author:: James Rogers
Publish date:: Apr 20, 2012 3:56 PM EDT

SANTA CLARA, Calif. (

TheStreet

) -- Shares of

Infoblox

(BLOX)

climbed rapidly on the company's debut as a public company on Friday, just a day after big data specialist

Splunk

(SPLK) - Get Report

enjoyed a

massive IPO pop

Network automation specialist Infoblox priced its shares at $16 a share on Thursday. The company's stock was up $5.55, or 34.69%, to $21.55 in afternoon trading as investor appetite for tech IPOs continued. Trading on the

New York Stock Exchange

, Infoblox opened at $22.50.

A rival of

BMC

(BMC)

and

Alcatel-Lucent

(ALU)

, Infoblox touts the ability to help companies manage their rapidly expanding and increasingly complex network infrastructures. The Santa Clara, Calif.-based firm lists semiconductor specialist

Marvell

(MRVL) - Get Report

IBM

(IBM) - Get Report

Best Buy

(BBY) - Get Report

and

TiVo

(TIVO) - Get Report

as customers

Infoblox brought in revenue of $132.8 in 2011, up from $61.7 million in 2009. The company's net loss also narrowed over the same period, from $10.4 million in 2009 to $5.3 million in 2011.

Another tech company, security software maker

Proofpoint

(PFPT) - Get Report

began trading on the

Nasdaq

on Friday, with shares climbing $1.01 cents, or 7.77%, to $14.01. The

Microsoft

(MSFT) - Get Report

and

VMware

(VMW) - Get Report

partner priced its offering at $13 a share.