Mimecast Ltd (MIME) CEO Peter Bauer Sells 18,750 Shares

Mimecast Ltd (NASDAQ:MIME) CEO Peter Bauer sold 18,750 shares of the firm’s stock in a transaction that occurred on Wednesday, May 22nd. The stock was sold at an average price of $46.87, for a total transaction of $878,812.50. Following the completion of the transaction, the chief executive officer now owns 33,500 shares in the company, valued at approximately $1,570,145. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Peter Bauer also recently made the following trade(s):

  • On Monday, April 22nd, Peter Bauer sold 18,750 shares of Mimecast stock. The stock was sold at an average price of $47.56, for a total transaction of $891,750.00.
  • On Friday, March 22nd, Peter Bauer sold 18,750 shares of Mimecast stock. The stock was sold at an average price of $46.84, for a total transaction of $878,250.00.
  • On Friday, February 22nd, Peter Bauer sold 18,750 shares of Mimecast stock. The stock was sold at an average price of $48.28, for a total transaction of $905,250.00.

NASDAQ:MIME opened at $46.04 on Friday. The firm has a market capitalization of $2.78 billion, a P/E ratio of -657.71, a P/E/G ratio of 26.86 and a beta of 1.10. Mimecast Ltd has a twelve month low of $29.67 and a twelve month high of $54.57. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.20.

Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $92.20 million during the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.85%. The business’s revenue was up 25.6% on a year-over-year basis. During the same quarter last year, the firm earned ($0.05) EPS. As a group, analysts predict that Mimecast Ltd will post 0.09 earnings per share for the current fiscal year.

Several hedge funds have recently made changes to their positions in MIME. SQN Investors LP bought a new stake in shares of Mimecast during the 1st quarter valued at $48,064,000. Whale Rock Capital Management LLC boosted its holdings in shares of Mimecast by 77.4% during the 4th quarter. Whale Rock Capital Management LLC now owns 1,623,686 shares of the technology company’s stock valued at $54,605,000 after buying an additional 708,198 shares in the last quarter. Ranger Investment Management L.P. bought a new stake in shares of Mimecast during the 4th quarter valued at $20,892,000. Morgan Stanley boosted its holdings in shares of Mimecast by 906.4% during the 1st quarter. Morgan Stanley now owns 685,099 shares of the technology company’s stock valued at $32,440,000 after buying an additional 617,022 shares in the last quarter. Finally, Portolan Capital Management LLC bought a new stake in shares of Mimecast during the 4th quarter valued at $16,649,000. Hedge funds and other institutional investors own 67.70% of the company’s stock.

Several research analysts have recently issued reports on the stock. BidaskClub cut shares of Mimecast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 14th. Monness Crespi & Hardt restated a “buy” rating and issued a $52.00 target price (up previously from $45.00) on shares of Mimecast in a report on Tuesday, February 12th. ValuEngine cut shares of Mimecast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 14th. Bank of America initiated coverage on shares of Mimecast in a report on Friday, April 12th. They issued a “buy” rating and a $60.00 target price on the stock. Finally, Imperial Capital reiterated an “outperform” rating and issued a $55.00 price target (up previously from $52.00) on shares of Mimecast in a report on Tuesday, May 14th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $53.56.

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About Mimecast

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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