BNP Paribas Arbitrage SA boosted its stake in Gigamon Inc. (NYSE:GIMO) by 46.9% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,382 shares of the technology company’s stock after acquiring an additional 6,510 shares during the quarter. BNP Paribas Arbitrage SA owned 0.05% of Gigamon worth $859,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Elliott Management Corp bought a new stake in Gigamon during the 2nd quarter worth about $103,546,000. BlackRock Inc. lifted its position in Gigamon by 95.7% during the 2nd quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock worth $155,072,000 after buying an additional 1,927,607 shares in the last quarter. Nomura Holdings Inc. bought a new stake in Gigamon during the 2nd quarter worth about $55,350,000. ETF Managers Group LLC bought a new stake in Gigamon during the 2nd quarter worth about $44,089,000. Finally, Vanguard Group Inc. lifted its position in Gigamon by 15.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,949,083 shares of the technology company’s stock worth $116,046,000 after buying an additional 394,726 shares in the last quarter. 97.31% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Ted C. Ho sold 15,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $42.54, for a total value of $638,100.00. Following the transaction, the director now owns 16,919 shares in the company, valued at approximately $719,734.26. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Ted C. Ho sold 30,000 shares of the company’s stock in a transaction dated Wednesday, September 20th. The shares were sold at an average price of $42.99, for a total transaction of $1,289,700.00. Following the completion of the transaction, the director now owns 16,919 shares in the company, valued at approximately $727,347.81. 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. 4.50% of the stock is owned by company insiders.

Several brokerages have commented on GIMO. Dougherty & Co cut shares of Gigamon from a “buy” rating to a “neutral” rating in a research report on Friday, October 27th. Needham & Company LLC lowered shares of Gigamon from a “buy” rating to a “hold” rating in a research note on Friday, October 27th. Stifel Nicolaus lowered shares of Gigamon from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $48.00 to $38.50 in a research note on Friday, October 27th. BidaskClub lowered shares of Gigamon from a “sell” rating to a “strong sell” rating in a research note on Wednesday, October 18th. Finally, JMP Securities lowered shares of Gigamon from an “outperform” rating to a “market perform” rating in a research note on Friday, October 6th. One 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. Gigamon currently has a consensus rating of “Hold” and a consensus price target of $45.09.

Gigamon Inc. (GIMO) traded down $0.15 during trading on Friday, hitting $38.75. 695,566 shares of the stock traded hands, compared to its average volume of 630,863. Gigamon Inc. has a one year low of $28.50 and a one year high of $51.00.

Gigamon (NYSE:GIMO) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, hitting 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 net margin of 0.32% and a negative return on equity of 0.55%. Gigamon’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.36 EPS. research analysts predict that Gigamon Inc. will post -0.12 earnings per share for the current fiscal year.

COPYRIGHT VIOLATION WARNING: This news story was first published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://www.thecerbatgem.com/2017/12/03/bnp-paribas-arbitrage-sa-boosts-position-in-gigamon-inc-gimo.html.

Gigamon 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.

Want to see what other hedge funds are holding GIMO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gigamon Inc. (NYSE:GIMO).

Institutional Ownership by Quarter for Gigamon (NYSE:GIMO)

Receive News & Stock Ratings for Gigamon Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gigamon Inc. and related stocks with our FREE daily email newsletter.