Tiedemann Wealth Management LLC lifted its holdings in Gigamon Inc. (NYSE:GIMO) by 38.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 17,025 shares of the technology company’s stock after acquiring an additional 4,750 shares during the quarter. Tiedemann Wealth Management LLC’s holdings in Gigamon were worth $184,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Schwab Charles Investment Management Inc. lifted its holdings in shares of Gigamon by 22.8% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 173,307 shares of the technology company’s stock worth $7,305,000 after acquiring an additional 32,214 shares during the last quarter. Wells Fargo & Company MN raised its holdings in Gigamon by 5.7% during the 3rd quarter. Wells Fargo & Company MN now owns 126,880 shares of the technology company’s stock valued at $5,348,000 after buying an additional 6,865 shares during the last quarter. Amalgamated Bank bought a new stake in Gigamon during the 3rd quarter valued at $214,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in Gigamon during the 3rd quarter valued at $1,897,000. Finally, JPMorgan Chase & Co. raised its holdings in Gigamon by 532.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 508,290 shares of the technology company’s stock valued at $21,373,000 after buying an additional 427,898 shares during the last quarter. Hedge funds and other institutional investors own 97.31% of the company’s stock.
Shares of Gigamon Inc. (GIMO) traded down $0.15 during trading on Friday, reaching $38.75. 695,566 shares of the company’s stock were exchanged, compared to its average volume of 630,863. Gigamon Inc. has a fifty-two week low of $28.50 and a fifty-two week high of $51.00.
A number of equities research analysts recently commented on the stock. Needham & Company LLC reiterated a “buy” rating and set a $50.00 price target on shares of Gigamon in a report on Tuesday, September 12th. BidaskClub lowered shares of Gigamon from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 18th. Dougherty & Co lowered shares of Gigamon from a “buy” rating to a “neutral” rating in a report on Friday, October 27th. Stifel Nicolaus lowered shares of Gigamon from a “buy” rating to a “hold” rating and lowered their price target for the company from $48.00 to $38.50 in a report on Friday, October 27th. Finally, JMP Securities lowered shares of Gigamon from an “outperform” rating to a “market perform” rating in a report on Friday, October 6th. One analyst has rated the stock with a sell rating, eleven have issued a hold rating and one has given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $45.09.
In other Gigamon news, SVP Paul B. Shinn sold 2,072 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $38.55, for a total transaction of $79,875.60. Following the transaction, the senior vice president now directly owns 28,185 shares of the company’s stock, valued at approximately $1,086,531.75. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Ted C. Ho sold 30,000 shares of the business’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 disclosure for this sale can be found here. Over the last three months, insiders have sold 92,072 shares of company stock worth $3,866,776. Insiders own 4.50% of the company’s stock.
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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