Marshall Wace North America L.P. Lowers Stake in Gigamon Inc. (GIMO)
Marshall Wace North America L.P. decreased its stake in Gigamon Inc. (NYSE:GIMO) by 68.0% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 102,870 shares of the technology company’s stock after selling 218,455 shares during the period. Marshall Wace North America L.P. owned approximately 0.28% of Gigamon worth $4,012,000 as of its most recent SEC filing.
Other hedge funds have also modified their holdings of the company. Creative Planning boosted its stake in shares of Gigamon by 8.7% in the first quarter. Creative Planning now owns 3,500 shares of the technology company’s stock valued at $124,000 after buying an additional 279 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in shares of Gigamon during the first quarter valued at $593,000. US Bancorp DE boosted its stake in shares of Gigamon by 258.4% in the first quarter. US Bancorp DE now owns 11,083 shares of the technology company’s stock valued at $393,000 after buying an additional 7,991 shares during the period. BNP Paribas Arbitrage SA boosted its stake in shares of Gigamon by 154.0% in the first quarter. BNP Paribas Arbitrage SA now owns 3,693 shares of the technology company’s stock valued at $131,000 after buying an additional 2,239 shares during the period. Finally, Pictet Asset Management Ltd. purchased a new stake in shares of Gigamon during the first quarter valued at $4,842,000. 97.97% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gigamon Inc. (NYSE GIMO) opened at 42.95 on Friday. The firm has a market cap of $1.61 billion, a PE ratio of 543.67 and a beta of 1.53. The firm’s 50-day moving average is $39.90 and its 200-day moving average is $37.55. Gigamon Inc. has a 12-month low of $28.50 and a 12-month high of $61.25.
Gigamon (NYSE:GIMO) last announced its earnings results on Thursday, July 27th. The technology company reported ($0.20) earnings per share (EPS) 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 business had revenue of $69.10 million during the quarter, compared to analyst estimates of $71.36 million. During the same period in the previous year, the company earned $0.30 earnings per share. The business’s revenue for the quarter was down 8.0% on a year-over-year basis. Equities analysts expect that Gigamon Inc. will post $0.79 earnings per share for the current fiscal year.
Several analysts recently weighed in on GIMO shares. Zacks Investment Research cut shares of Gigamon from a “buy” rating to a “hold” rating in a report on Friday, May 5th. Vetr cut shares of Gigamon from a “strong-buy” rating to a “hold” rating and set a $42.50 target price on the stock. in a report on Monday, May 8th. DA Davidson cut shares of Gigamon from a “buy” rating to a “neutral” rating and raised their target price for the company from $36.00 to $40.00 in a report on Tuesday, May 9th. Stifel Nicolaus raised their target price on shares of Gigamon from $39.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, May 9th. Finally, ValuEngine raised shares of Gigamon from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $45.38.
In other Gigamon news, Director Ted C. Ho sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $40.66, for a total value of $609,900.00. Following the transaction, the director now directly owns 16,919 shares of the company’s stock, valued at approximately $687,926.54. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ted C. Ho sold 60,000 shares of the company’s stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $38.58, for a total value of $2,314,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 167,706 shares of company stock worth $6,747,139. 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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