Weiss Multi Strategy Advisers LLC cut its stake in Gigamon Inc. (NYSE:GIMO) by 70.8% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 30,000 shares of the technology company’s stock after selling 72,775 shares during the period. Weiss Multi Strategy Advisers LLC owned approximately 0.08% of Gigamon worth $1,067,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Ameritas Investment Partners Inc. bought a new stake in Gigamon during the first quarter worth approximately $100,000. Creative Planning increased its position in shares of Gigamon by 8.7% in the first quarter. Creative Planning now owns 3,500 shares of the technology company’s stock worth $124,000 after buying an additional 279 shares during the last quarter. BNP Paribas Arbitrage SA increased its position in shares of Gigamon by 154.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock worth $131,000 after buying an additional 2,239 shares during the last quarter. Envestnet Asset Management Inc. increased its position in shares of Gigamon by 5.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,755 shares of the technology company’s stock worth $216,000 after buying an additional 265 shares during the last quarter. Finally, Juncture Wealth Strategies LLC acquired a new position in shares of Gigamon during the first quarter worth about $232,000. 84.23% of the stock is currently owned by institutional investors.
Gigamon Inc. (GIMO) traded up 0.91% on Tuesday, hitting $38.75. The stock had a trading volume of 684,540 shares. The company has a 50 day moving average price of $39.65 and a 200-day moving average price of $37.71. Gigamon Inc. has a 52-week low of $28.50 and a 52-week high of $61.25. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 33.01 and a beta of 1.53.
Gigamon (NYSE:GIMO) last issued its quarterly earnings data on Thursday, April 27th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $0.02. The business had revenue of $69.60 million during the quarter, compared to analysts’ expectations of $68.77 million. Gigamon had a return on equity of 3.45% and a net margin of 14.12%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.22 EPS. On average, equities research analysts predict that Gigamon Inc. will post $0.69 earnings per share for the current year.
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A number of research analysts have recently issued reports on the company. BidaskClub downgraded Gigamon from a “hold” rating to a “sell” rating in a report on Wednesday, June 21st. JMP Securities reaffirmed an “outperform” rating and set a $37.00 price target (down from $45.00) on shares of Gigamon in a report on Monday, May 1st. Rosenblatt Securities reaffirmed a “hold” rating and set a $40.00 price target on shares of Gigamon in a report on Sunday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price target on shares of Gigamon in a report on Monday, June 19th. Finally, ValuEngine raised Gigamon from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $45.71.
In related news, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction dated Tuesday, May 2nd. The stock was sold at an average price of $30.74, for a total value of $1,844,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Helmut Wilke sold 15,000 shares of the company’s stock in a transaction dated Friday, May 5th. The stock was sold at an average price of $34.66, for a total value of $519,900.00. Following the completion of the transaction, the vice president now directly owns 52,441 shares of the company’s stock, valued at approximately $1,817,605.06. The disclosure for this sale can be found here. In the last three months, insiders sold 208,964 shares of company stock valued at $7,732,298. Insiders own 4.50% of the company’s stock.
Gigamon Inc offers a solution that delivers visibility and control of data-in-motion traversing enterprise, federal and service provider networks. The Company’s Visibility Platform consists of a distributed system of nodes (that in combination establish a Visibility Fabric). The Visibility Platform includes physical appliances and virtual nodes that can be deployed in data centers, central offices, virtualized/private cloud/public cloud environments, and small form-factor remote site appliances, which in combination enable pervasive visibility of network infrastructures.
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