Insider Selling: Gigamon Inc. (GIMO) Director Sells 60,000 Shares of Stock
Gigamon Inc. (NYSE:GIMO) Director Ted C. Ho sold 60,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $41.58, for a total value of $2,494,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Gigamon Inc. (NYSE:GIMO) traded down 0.62% during mid-day trading on Monday, reaching $40.25. The company’s stock had a trading volume of 1,151,754 shares. Gigamon Inc. has a 52-week low of $28.50 and a 52-week high of $61.25. The company has a 50-day moving average price of $37.92 and a 200 day moving average price of $38.97. The company has a market cap of $1.48 billion, a PE ratio of 34.28 and a beta of 1.53.
Gigamon (NYSE:GIMO) last posted its quarterly earnings data on Thursday, April 27th. The technology company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.08) by $0.02. The business had revenue of $69.60 million during the quarter, compared to analyst estimates of $68.77 million. Gigamon had a return on equity of 3.45% and a net margin of 14.12%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company earned $0.22 EPS. Equities analysts expect that Gigamon Inc. will post $0.69 earnings per share for the current year.
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A number of research firms recently weighed in on GIMO. ValuEngine upgraded Gigamon from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Stifel Nicolaus restated a “buy” rating and issued a $45.00 target price on shares of Gigamon in a research report on Monday, June 5th. Vetr downgraded Gigamon from a “strong-buy” rating to a “hold” rating and set a $42.50 target price for the company. in a research report on Monday, May 8th. Needham & Company LLC boosted their target price on Gigamon from $34.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, June 5th. Finally, Rosenblatt Securities restated a “hold” rating and issued a $40.00 target price on shares of Gigamon in a research report on Sunday, April 30th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $47.42.
Large investors have recently bought and sold shares of the stock. Ameritas Investment Partners Inc. bought a new stake in Gigamon during the first quarter valued at about $100,000. Creative Planning raised its stake in 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 last quarter. Advantage Investment Management LLC bought a new stake in Gigamon during the fourth quarter valued at about $126,000. BNP Paribas Arbitrage SA raised its stake in 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 last quarter. Finally, FNY Managed Accounts LLC bought a new stake in Gigamon during the first quarter valued at about $213,000. 85.34% of the stock is owned by institutional investors and hedge funds.
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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