Gigamon Inc (GIMO) Stake Lowered by Point72 Asset Management L.P.
Point72 Asset Management L.P. reduced its holdings in Gigamon Inc (NYSE:GIMO) by 99.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,300 shares of the technology company’s stock after selling 554,600 shares during the quarter. Point72 Asset Management L.P.’s holdings in Gigamon were worth $181,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cubist Systematic Strategies LLC acquired a new position in shares of Gigamon in the 2nd quarter worth approximately $100,000. Ameritas Investment Partners Inc. raised its position in Gigamon by 13.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 3,172 shares of the technology company’s stock worth $125,000 after purchasing an additional 365 shares during the last quarter. Pinebridge Investments L.P. bought a new position in Gigamon in the 2nd quarter worth approximately $162,000. FNY Partners Fund LP bought a new position in Gigamon in the 3rd quarter worth approximately $197,000. Finally, Stifel Financial Corp bought a new position in Gigamon in the 3rd quarter worth approximately $206,000. 96.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gigamon Inc (GIMO) opened at $38.55 on Friday. The company has a market cap of $1,440.00, a price-to-earnings ratio of -963.75 and a beta of 1.44. Gigamon Inc has a 1 year low of $28.50 and a 1 year high of $48.25.
Gigamon (NYSE:GIMO) last issued its earnings results on Thursday, October 26th. The technology company reported $0.23 EPS for the quarter, meeting the consensus estimate of $0.23. The company had revenue of $79.20 million during the quarter, compared to analysts’ expectations of $84.73 million. Gigamon had a negative net margin of 0.32% and a negative return on equity of 0.55%. The business’s revenue for the quarter was down 5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.36 EPS. equities analysts expect that Gigamon Inc will post -0.12 earnings per share for the current year.
In other Gigamon news, Director Ted C. Ho sold 30,000 shares of the company’s stock in a transaction on Tuesday, October 3rd. The shares were sold at an average price of $42.63, for a total transaction of $1,278,900.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Ted C. Ho sold 15,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $42.54, for a total transaction of $638,100.00. Following the sale, the director now owns 16,919 shares of the company’s stock, valued at approximately $719,734.26. The disclosure for this sale can be found here. Insiders have sold a total of 92,072 shares of company stock valued at $3,732,376 in the last quarter. Corporate insiders own 4.50% of the company’s stock.
GIMO has been the subject of several research analyst reports. Needham & Company LLC restated a “buy” rating and issued a $50.00 price objective on shares of Gigamon in a research report on Thursday, August 31st. Stifel Nicolaus restated a “buy” rating and issued a $48.00 price objective on shares of Gigamon in a research report on Monday, September 25th. BidaskClub upgraded shares of Gigamon from a “hold” rating to a “buy” rating in a research report on Thursday, September 14th. ValuEngine upgraded shares of Gigamon from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, JMP Securities cut shares of 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 assigned a hold rating and one has given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $45.09.
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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