Williams Jones & Associates LLC Increases Stake in Gigamon Inc. (GIMO)
Williams Jones & Associates LLC lifted its holdings in Gigamon Inc. (NYSE:GIMO) by 123.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 15,750 shares of the technology company’s stock after purchasing an additional 8,690 shares during the period. Williams Jones & Associates LLC’s holdings in Gigamon were worth $620,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also made changes to their positions in the company. Ameritas Investment Partners Inc. bought a new position in shares of Gigamon during the 1st quarter worth approximately $100,000. BNP Paribas Arbitrage SA raised its stake in shares of Gigamon by 154.0% during the 1st quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock worth $131,000 after acquiring an additional 2,239 shares in the last quarter. Creative Planning raised its stake in shares of Gigamon by 16.3% during the 2nd quarter. Creative Planning now owns 4,070 shares of the technology company’s stock worth $160,000 after acquiring an additional 570 shares in the last quarter. Pinebridge Investments L.P. bought a new position in shares of Gigamon during the 2nd quarter worth approximately $162,000. Finally, LS Investment Advisors LLC bought a new position in shares of Gigamon during the 2nd quarter worth approximately $172,000. 97.84% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Ted C. Ho sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $40.66, for a total transaction of $609,900.00. Following the completion of the sale, the director now owns 16,919 shares in the company, valued at approximately $687,926.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul B. Shinn sold 2,706 shares of the business’s stock in a transaction that occurred on Thursday, August 17th. The stock was sold at an average price of $39.63, for a total transaction of $107,238.78. Following the sale, the insider now owns 32,985 shares of the company’s stock, valued at approximately $1,307,195.55. The disclosure for this sale can be found here. Insiders have sold a total of 182,706 shares of company stock valued at $7,459,039 in the last 90 days. Insiders own 4.50% of the company’s stock.
Several research analysts recently commented on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 price objective on shares of Gigamon in a research note on Monday, September 25th. Dougherty & Co upgraded shares of Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price objective for the company in a research note on Monday, July 31st. DA Davidson boosted their price objective on shares of Gigamon from $40.00 to $41.00 and gave the stock a “neutral” rating in a research note on Friday, July 28th. Bank of America Corporation reiterated a “neutral” rating and set a $43.00 price objective (up previously from $33.00) on shares of Gigamon in a research note on Thursday, June 22nd. Finally, BidaskClub lowered shares of Gigamon from a “hold” rating to a “sell” rating in a research note on Wednesday, June 21st. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.95.
Shares of Gigamon Inc. (GIMO) traded down 0.12% on Thursday, reaching $43.05. 31,382 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.61 billion, a P/E ratio of 544.94 and a beta of 1.50. The firm has a 50 day moving average of $42.27 and a 200 day moving average of $39.03. Gigamon Inc. has a one year low of $28.50 and a one year high of $61.25.
Gigamon (NYSE:GIMO) last issued its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.12). The company had revenue of $69.10 million for the quarter, compared to analysts’ expectations of $71.36 million. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. The firm’s quarterly revenue was down 8.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 EPS. On average, equities research analysts predict that Gigamon Inc. will post $0.79 EPS for the current year.
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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