Great West Life Assurance Co. Can grew its holdings in shares of Gigamon Inc. (NYSE:GIMO) by 11.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 49,725 shares of the technology company’s stock after buying an additional 5,106 shares during the period. Great West Life Assurance Co. Can owned 0.13% of Gigamon worth $2,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently bought and sold shares of GIMO. Elliott Management Corp acquired a new stake in shares of Gigamon during the second quarter worth about $103,546,000. BlackRock Inc. increased its position in shares of Gigamon by 95.7% during the second quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock worth $155,072,000 after purchasing an additional 1,927,607 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Gigamon during the second quarter worth about $55,350,000. ETF Managers Group LLC acquired a new stake in shares of Gigamon during the second quarter worth about $44,089,000. Finally, Vanguard Group Inc. increased its position in shares of Gigamon by 15.5% during the second quarter. Vanguard Group Inc. now owns 2,949,083 shares of the technology company’s stock worth $116,046,000 after purchasing an additional 394,726 shares in the last quarter. Institutional investors and hedge funds own 96.79% of the company’s stock.
In related news, 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 value of $79,875.60. Following the sale, the senior vice president now owns 28,185 shares of the company’s stock, valued at approximately $1,086,531.75. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Ted C. Ho sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 20th. The shares were sold at an average price of $42.99, for a total value of $1,289,700.00. Following the completion of the sale, the director now directly owns 16,919 shares in the company, valued at approximately $727,347.81. The disclosure for this sale can be found here. Insiders have sold a total of 92,072 shares of company stock worth $3,866,776 in the last three months. Corporate insiders own 4.50% of the company’s stock.
Gigamon (NYSE:GIMO) last announced its quarterly earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. The business had revenue of $79.20 million for the quarter, compared to analyst estimates of $84.73 million. Gigamon had a negative return on equity of 0.55% and a negative net margin of 0.32%. The company’s quarterly revenue was down 5.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.36 EPS. equities research analysts predict that Gigamon Inc. will post -0.12 EPS for the current year.
GIMO has been the topic of a number of research analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $50.00 target price on shares of Gigamon in a research report on Thursday, August 31st. Stifel Nicolaus restated a “buy” rating and issued a $48.00 price target on shares of Gigamon in a research report on Monday, September 25th. BidaskClub upgraded Gigamon from a “hold” rating to a “buy” rating in a research report on Thursday, September 14th. ValuEngine upgraded Gigamon from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, JMP Securities cut Gigamon from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $45.09.
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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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