Ameriprise Financial Inc. boosted its position in shares of Gigamon Inc. (NYSE:GIMO) by 0.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 350,615 shares of the technology company’s stock after buying an additional 2,990 shares during the period. Ameriprise Financial Inc. owned approximately 0.94% of Gigamon worth $14,779,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in GIMO. Elliott Management Corp acquired a new stake in Gigamon during the second quarter worth about $103,546,000. BlackRock Inc. boosted its stake in shares of Gigamon by 95.7% in the 2nd quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock valued at $155,072,000 after purchasing an additional 1,927,607 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Gigamon in the 2nd quarter valued at approximately $55,350,000. ETF Managers Group LLC acquired a new stake in shares of Gigamon in the 2nd quarter valued at approximately $44,089,000. Finally, Vanguard Group Inc. boosted its stake in shares of Gigamon by 15.5% in the 2nd quarter. Vanguard Group Inc. now owns 2,949,083 shares of the technology company’s stock valued at $116,046,000 after purchasing an additional 394,726 shares in the last quarter. Hedge funds and other institutional investors own 96.79% of the company’s stock.
Gigamon Inc. (NYSE:GIMO) traded up $0.15 during trading hours on Friday, reaching $38.60. 1,765,500 shares of the company traded hands, compared to its average volume of 610,508. Gigamon Inc. has a twelve month low of $28.50 and a twelve month high of $49.00.
Gigamon (NYSE:GIMO) last posted its earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, hitting the consensus estimate of $0.23. Gigamon had a negative net margin of 0.32% and a negative return on equity of 0.55%. The business had revenue of $79.20 million for the quarter, compared to the consensus estimate of $84.73 million. During the same period last year, the company earned $0.36 EPS. The firm’s revenue was down 5.1% compared to the same quarter last year. analysts predict that Gigamon Inc. will post -0.12 earnings per share for the current year.
In related news, SVP Paul B. Shinn sold 2,072 shares of Gigamon stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $38.55, for a total transaction of $79,875.60. Following the sale, the senior vice president now directly owns 28,185 shares in the company, valued at approximately $1,086,531.75. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ted C. Ho sold 15,000 shares of Gigamon stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $38.68, for a total transaction of $580,200.00. Following the sale, the director now owns 16,919 shares in the company, valued at $654,426.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 92,072 shares of company stock worth $3,866,776. 4.50% of the stock is owned by corporate insiders.
GIMO has been the topic of a number of research analyst reports. ValuEngine upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Needham & Company LLC restated a “buy” rating and issued a $50.00 price target on shares of Gigamon in a research note on Thursday, August 31st. BidaskClub upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a research note on Wednesday, August 30th. Stifel Nicolaus restated a “buy” rating and issued a $48.00 price target on shares of Gigamon in a research note on Tuesday, September 12th. Finally, JMP Securities downgraded shares of Gigamon from an “outperform” rating to a “market perform” rating in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company’s stock. Gigamon has a consensus rating of “Hold” and an average target price of $45.09.
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Gigamon Company Profile
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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