Metropolitan Life Insurance Co. NY reduced its position in shares of Gigamon Inc (NYSE:GIMO) by 2.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,904 shares of the company’s stock after selling 502 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Gigamon were worth $1,043,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Advisor Group Inc. increased its position in Gigamon by 2.0% in the third quarter. Advisor Group Inc. now owns 3,064 shares of the company’s stock worth $167,000 after buying an additional 61 shares during the period. BlackRock Japan Co. Ltd increased its position in Gigamon by 15.1% in the third quarter. BlackRock Japan Co. Ltd now owns 2,003 shares of the company’s stock worth $110,000 after buying an additional 263 shares during the period. Envestnet Asset Management Inc. increased its position in Gigamon by 5.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 4,755 shares of the company’s stock worth $216,000 after buying an additional 265 shares during the period. US Bancorp DE increased its position in Gigamon by 15.4% in the third quarter. US Bancorp DE now owns 2,619 shares of the company’s stock worth $144,000 after buying an additional 349 shares during the period. Finally, California State Teachers Retirement System increased its position in Gigamon by 1.0% in the third quarter. California State Teachers Retirement System now owns 68,852 shares of the company’s stock worth $3,773,000 after buying an additional 700 shares during the period. 83.97% of the stock is owned by institutional investors and hedge funds.
Gigamon Inc (NYSE:GIMO) opened at 35.35 on Tuesday. Gigamon Inc has a 52 week low of $28.16 and a 52 week high of $61.25. The firm’s 50-day moving average price is $34.15 and its 200 day moving average price is $45.12. The firm has a market cap of $1.30 billion, a P/E ratio of 26.98 and a beta of 1.56.
Gigamon (NYSE:GIMO) last posted its quarterly earnings results on Thursday, February 2nd. The company reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.01. The company earned $85.03 million during the quarter, compared to the consensus estimate of $91.60 million. Gigamon had a return on equity of 6.57% and a net margin of 15.90%. The firm’s quarterly revenue was up 26.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.29 EPS. Equities analysts forecast that Gigamon Inc will post $1.04 earnings per share for the current fiscal year.
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A number of research firms recently commented on GIMO. Dougherty & Co began coverage on Gigamon in a research note on Wednesday, December 21st. They issued a “buy” rating and a $58.00 price target for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 price target on shares of Gigamon in a research note on Monday, March 13th. Zacks Investment Research downgraded Gigamon from a “buy” rating to a “hold” rating in a research note on Friday, December 16th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $70.00 price target on shares of Gigamon in a research note on Wednesday, November 30th. Finally, DA Davidson set a $52.00 price target on Gigamon and gave the company a “buy” rating in a research note on Wednesday, January 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $52.67.
In other news, Director Ted C. Ho sold 60,000 shares of the stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $32.87, for a total transaction of $1,972,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dario Zamarian purchased 5,706 shares of the business’s stock in a transaction dated Monday, February 27th. The shares were purchased at an average price of $35.05 per share, with a total value of $199,995.30. Following the purchase, the director now directly owns 15,206 shares in the company, valued at approximately $532,970.30. The disclosure for this purchase can be found here. Insiders have sold a total of 210,000 shares of company stock valued at $7,458,000 in the last quarter. 9.66% of the stock is owned by corporate insiders.
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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