Paloma Partners Management Co Sells 778 Shares of Gigamon Inc. (GIMO)

Paloma Partners Management Co lowered its position in Gigamon Inc. (NYSE:GIMO) by 8.0% during the first quarter, according to its most recent filing with the SEC. The firm owned 8,977 shares of the technology company’s stock after selling 778 shares during the period. Paloma Partners Management Co’s holdings in Gigamon were worth $320,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of GIMO. Penserra Capital Management LLC acquired a new position in Gigamon during the first quarter worth about $38,045,000. Champlain Investment Partners LLC acquired a new position in Gigamon during the first quarter worth about $34,143,000. American Capital Management Inc. boosted its position in Gigamon by 116.3% in the first quarter. American Capital Management Inc. now owns 836,605 shares of the technology company’s stock worth $29,741,000 after buying an additional 449,755 shares during the last quarter. FMR LLC boosted its position in Gigamon by 185.0% in the fourth quarter. FMR LLC now owns 643,346 shares of the technology company’s stock worth $29,304,000 after buying an additional 417,591 shares during the last quarter. Finally, Omega Advisors Inc. acquired a new position in Gigamon during the first quarter worth about $12,800,000. Hedge funds and other institutional investors own 80.77% of the company’s stock.

Shares of Gigamon Inc. (NYSE:GIMO) opened at 40.25 on Wednesday. Gigamon Inc. has a 12-month low of $28.50 and a 12-month high of $61.25. The stock has a market cap of $1.51 billion, a PE ratio of 509.49 and a beta of 1.53. The firm has a 50 day moving average price of $39.33 and a 200 day moving average price of $36.47.

Gigamon (NYSE:GIMO) last released its quarterly earnings data on Thursday, July 27th. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.08) by $0.12. The business had revenue of $69.10 million during the quarter, compared to the consensus estimate of $71.36 million. Gigamon had a return on equity of 0.41% and a net margin of 0.95%. The business’s revenue was down 8.0% on a year-over-year basis. During the same period last year, the company earned $0.30 EPS. On average, equities analysts expect that Gigamon Inc. will post $0.79 EPS for the current year.

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GIMO has been the topic of a number of research analyst reports. Needham & Company LLC restated a “buy” rating and set a $50.00 price target on shares of Gigamon in a report on Monday, June 19th. Stifel Nicolaus raised Gigamon from a “hold” rating to a “buy” rating and increased their price target for the company from $30.00 to $42.00 in a research report on Thursday, April 20th. They noted that the move was a valuation call. Zacks Investment Research lowered Gigamon from a “buy” rating to a “hold” rating in a research report on Friday, May 5th. Dougherty & Co lowered Gigamon from a “buy” rating to a “neutral” rating in a research report on Friday, April 28th. Finally, JMP Securities reaffirmed an “outperform” rating and set a $37.00 target price (down from $45.00) on shares of Gigamon in a research report on Monday, May 1st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $45.38.

In other Gigamon news, Director Ted C. Ho sold 60,000 shares of the company’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 transaction of $2,494,800.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul B. Shinn sold 3,185 shares of the company’s stock in a transaction that occurred on Wednesday, May 17th. The shares were sold at an average price of $38.90, for a total value of $123,896.50. Following the sale, the insider now owns 35,974 shares in the company, valued at $1,399,388.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 133,964 shares of company stock valued at $5,367,998. 4.50% of the stock is owned by corporate insiders.

Gigamon Company 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.