17,996 Shares in Gigamon Inc. (GIMO) Acquired by FNY Managed Accounts LLC
FNY Managed Accounts LLC purchased a new stake in Gigamon Inc. (NYSE:GIMO) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 17,996 shares of the technology company’s stock, valued at approximately $758,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GIMO. Cubist Systematic Strategies LLC bought a new stake in shares of Gigamon during the 2nd quarter worth $100,000. Ameritas Investment Partners Inc. increased its holdings in Gigamon by 13.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock worth $125,000 after purchasing an additional 365 shares in the last quarter. Creative Planning increased its holdings in Gigamon by 16.3% in the 2nd quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after purchasing an additional 570 shares in the last quarter. Pinebridge Investments L.P. acquired a new position in Gigamon in the 2nd quarter worth about $162,000. Finally, LS Investment Advisors LLC acquired a new position in Gigamon in the 2nd quarter worth about $172,000. Institutional investors and hedge funds own 96.67% of the company’s stock.
Shares of Gigamon Inc. (NYSE:GIMO) opened at $38.60 on Friday. Gigamon Inc. has a 52-week low of $28.50 and a 52-week high of $61.25.
Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $79.20 million for the quarter, compared to analyst estimates of $84.73 million. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The firm’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.36 EPS. equities analysts expect that Gigamon Inc. will post -0.12 EPS for the current year.
A number of brokerages have issued reports on GIMO. Dougherty & Co cut Gigamon from a “buy” rating to a “neutral” rating in a report on Friday, October 27th. Needham & Company LLC cut Gigamon from a “buy” rating to a “hold” rating in a report on Friday, October 27th. Stifel Nicolaus cut Gigamon from a “buy” rating to a “hold” rating and lowered their target price for the stock from $48.00 to $38.50 in a report on Friday, October 27th. BidaskClub cut Gigamon from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Finally, JMP Securities cut Gigamon from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $45.09.
In other Gigamon news, Director Ted C. Ho sold 30,000 shares of the stock in a transaction that occurred on Wednesday, September 20th. The stock was sold at an average price of $42.99, for a total value of $1,289,700.00. Following the transaction, the director now owns 16,919 shares in the company, valued at $727,347.81. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Ted C. Ho sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $42.54, for a total value of $638,100.00. Following the completion of the transaction, the director now owns 16,919 shares in the company, valued at approximately $719,734.26. The disclosure for this sale can be found here. In the last quarter, insiders sold 92,072 shares of company stock worth $3,866,776. Corporate 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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