Gigamon Inc. (NYSE:GIMO) Stake Boosted by Creative Planning
Creative Planning increased its position in Gigamon Inc. (NYSE:GIMO) by 16.3% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 4,070 shares of the technology company’s stock after buying an additional 570 shares during the period. Creative Planning’s holdings in Gigamon were worth $160,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the company. Ameritas Investment Partners Inc. bought a new position in Gigamon during the first quarter worth $100,000. BNP Paribas Arbitrage SA boosted its position in 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 period. FNY Managed Accounts LLC bought a new position in Gigamon during the first quarter worth $213,000. Envestnet Asset Management Inc. boosted its position in Gigamon by 28.4% in the first quarter. Envestnet Asset Management Inc. now owns 6,105 shares of the technology company’s stock worth $216,000 after buying an additional 1,350 shares during the period. Finally, Juncture Wealth Strategies LLC bought a new position in Gigamon during the first quarter worth $232,000. 80.77% of the stock is currently owned by institutional investors and hedge funds.
Gigamon Inc. (NYSE GIMO) traded up 1.02% on Friday, reaching $39.50. 131,777 shares of the company’s stock were exchanged. Gigamon Inc. has a 1-year low of $28.50 and a 1-year high of $61.25. The firm’s 50 day moving average is $39.42 and its 200 day moving average is $36.68. The stock has a market capitalization of $1.48 billion, a P/E ratio of 500.00 and a beta of 1.53.
Gigamon (NYSE:GIMO) last released its quarterly earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.08) by $0.12. Gigamon had a net margin of 0.95% and a return on equity of 0.41%. The company had revenue of $69.10 million during the quarter, compared to analyst estimates of $71.36 million. During the same quarter last year, the business earned $0.30 EPS. The company’s revenue for the quarter was down 8.0% compared to the same quarter last year. Analysts expect that Gigamon Inc. will post $0.79 EPS for the current year.
A number of equities analysts have recently weighed in on GIMO shares. Needham & Company LLC lowered their price target on shares of Gigamon from $38.00 to $34.00 and set a “buy” rating on the stock in a research note on Friday, April 28th. Stifel Nicolaus upped their price target on shares of Gigamon from $39.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, May 9th. Dougherty & Co raised shares of Gigamon from a “neutral” rating to a “buy” rating and set a $50.00 price target on the stock in a research note on Monday, July 31st. ValuEngine raised shares of Gigamon from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Vetr cut shares of Gigamon from a “strong-buy” rating to a “hold” rating and set a $42.50 price target on the stock. in a research note on Monday, May 8th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $45.38.
In related news, Director Ted C. Ho sold 30,000 shares of the stock in a transaction on Tuesday, August 8th. The stock was sold at an average price of $40.68, for a total value of $1,220,400.00. Following the completion of the transaction, the director now owns 16,919 shares in the company, valued at approximately $688,264.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Ted C. Ho sold 60,000 shares of the stock in a transaction on Friday, June 9th. The shares were sold at an average price of $41.58, for a total value of $2,494,800.00. The disclosure for this sale can be found here. Insiders sold a total of 178,964 shares of company stock valued at $7,198,298 in the last quarter. 4.50% of the stock is currently owned by corporate insiders.
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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