California State Teachers Retirement System Reduces Position in Gigamon Inc (GIMO)

California State Teachers Retirement System lessened its stake in shares of Gigamon Inc (NYSE:GIMO) by 8.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 58,932 shares of the technology company’s stock after selling 5,131 shares during the period. California State Teachers Retirement System owned 0.16% of Gigamon worth $2,484,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its position in shares of Gigamon by 95.7% during the 2nd quarter. BlackRock Inc. now owns 3,940,796 shares of the technology company’s stock valued at $155,072,000 after acquiring an additional 1,927,607 shares during the period. Vanguard Group Inc. lifted its position in shares of Gigamon by 15.5% during the 2nd quarter. Vanguard Group Inc. now owns 2,949,083 shares of the technology company’s stock valued at $116,046,000 after acquiring an additional 394,726 shares during the period. Elliott Management Corp acquired a new position in shares of Gigamon during the 2nd quarter valued at $103,546,000. Nomura Holdings Inc. acquired a new position in shares of Gigamon during the 2nd quarter valued at $55,350,000. Finally, Disciplined Growth Investors Inc. MN lifted its position in shares of Gigamon by 21.2% during the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 1,340,215 shares of the technology company’s stock valued at $52,737,000 after acquiring an additional 234,752 shares during the period. Institutional investors own 97.86% of the company’s stock.

A number of research analysts recently issued reports on GIMO shares. Stifel Nicolaus reiterated a “buy” rating and set a $48.00 target price on shares of Gigamon in a research report on Monday, September 25th. JMP Securities downgraded shares of Gigamon from an “outperform” rating to a “market perform” rating in a research report on Friday, October 6th. BidaskClub downgraded shares of Gigamon from a “hold” rating to a “sell” rating in a research report on Wednesday, October 11th. Needham & Company LLC downgraded shares of Gigamon from a “buy” rating to a “hold” rating in a research report on Friday, October 27th. Finally, Dougherty & Co downgraded shares of Gigamon from a “buy” rating to a “neutral” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $45.09.

Gigamon Inc (NYSE:GIMO) opened at $38.50 on Friday.

Gigamon (NYSE:GIMO) last released its quarterly earnings data on Thursday, October 26th. The technology company reported $0.23 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.23. Gigamon had a negative net margin of 0.32% and a negative return on equity of 0.55%. The firm had revenue of $79.20 million for the quarter, compared to the consensus estimate of $84.73 million. During the same quarter in the prior year, the company posted $0.36 earnings per share. The business’s revenue was down 5.1% on a year-over-year basis. sell-side analysts expect that Gigamon Inc will post -0.12 EPS for the current year.

In other news, SVP Paul B. Shinn sold 2,072 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $38.55, for a total value of $79,875.60. Following the completion of the sale, the senior vice president now owns 28,185 shares in the company, valued at $1,086,531.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Ted C. Ho sold 30,000 shares of the stock in a transaction dated Friday, December 15th. The shares were sold at an average price of $38.51, for a total transaction of $1,155,300.00. Following the completion of the sale, the director now owns 16,919 shares of the company’s stock, valued at approximately $651,550.69. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,072 shares of company stock worth $1,815,376. Corporate insiders own 4.50% of the company’s stock.

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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.

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Institutional Ownership by Quarter for Gigamon (NYSE:GIMO)

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