Insider Selling: Gigamon Inc. (GIMO) SVP Sells $79,875.60 in Stock
Gigamon Inc. (NYSE:GIMO) SVP Paul B. Shinn sold 2,072 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The stock was sold at an average price of $38.55, for a total transaction of $79,875.60. Following the completion of the transaction, the senior vice president now owns 28,185 shares in the company, valued at $1,086,531.75. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.
Shares of Gigamon Inc. (GIMO) traded up $0.05 on Friday, reaching $38.60. 258,057 shares of the company traded hands, compared to its average volume of 1,330,665. Gigamon Inc. has a 1 year low of $28.50 and a 1 year high of $61.25.
Gigamon (NYSE:GIMO) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.23. Gigamon had a negative net margin of 0.32% and a negative return on equity of 0.55%. The company had revenue of $79.20 million for the quarter, compared to the consensus estimate of $84.73 million. During the same period in the prior year, the firm posted $0.36 EPS. The company’s quarterly 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.
Several large investors have recently made changes to their positions in the business. BlackRock Inc. increased its position 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 during the last quarter. Vanguard Group Inc. increased its position 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 during the last quarter. Elliott Management Corp purchased a new stake in shares of Gigamon in the 2nd quarter valued at approximately $103,546,000. Nomura Holdings Inc. purchased a new stake in shares of Gigamon in the 2nd quarter valued at approximately $55,350,000. Finally, Disciplined Growth Investors Inc. MN increased its position in shares of Gigamon by 21.2% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,340,215 shares of the technology company’s stock valued at $52,737,000 after purchasing an additional 234,752 shares during the last quarter. 96.67% of the stock is currently owned by institutional investors.
Several brokerages have recently commented on GIMO. BidaskClub upgraded shares of Gigamon from a “hold” rating to a “buy” rating in a report on Thursday, September 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 target price on shares of Gigamon in a research note on Tuesday, September 12th. ValuEngine raised shares of Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. JMP Securities downgraded shares of Gigamon from an “outperform” rating to a “market perform” rating in a research note on Friday, October 6th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $48.00 target price on shares of Gigamon in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $45.09.
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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