Oak Ridge Investments LLC cut its holdings in Mimecast Ltd (NASDAQ:MIME) by 4.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 180,042 shares of the technology company’s stock after selling 8,574 shares during the period. Oak Ridge Investments LLC’s holdings in Mimecast were worth $8,525,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. First Mercantile Trust Co. lifted its holdings in Mimecast by 223.4% in the 1st quarter. First Mercantile Trust Co. now owns 1,035 shares of the technology company’s stock worth $49,000 after purchasing an additional 715 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Mimecast in the 4th quarter worth approximately $72,000. Penserra Capital Management LLC purchased a new position in Mimecast in the 1st quarter worth approximately $188,000. Amundi Pioneer Asset Management Inc. purchased a new position in Mimecast in the 4th quarter worth approximately $192,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Mimecast by 71.3% in the 4th quarter. PNC Financial Services Group Inc. now owns 6,278 shares of the technology company’s stock worth $211,000 after purchasing an additional 2,614 shares in the last quarter. 67.70% of the stock is currently owned by institutional investors.
In related news, CEO Peter Bauer sold 18,750 shares of the stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $46.84, for a total transaction of $878,250.00. Following the sale, the chief executive officer now owns 46,000 shares in the company, valued at approximately $2,154,640. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter Andrew James Campbell sold 70,000 shares of the stock in a transaction on Friday, March 1st. The shares were sold at an average price of $48.23, for a total value of $3,376,100.00. Following the sale, the chief financial officer now owns 50,000 shares in the company, valued at approximately $2,411,500. The disclosure for this sale can be found here. Insiders have sold a total of 348,746 shares of company stock worth $16,466,776 in the last 90 days. 29.00% of the stock is currently owned by insiders.
A number of research analysts recently commented on MIME shares. ValuEngine raised Mimecast from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Summit Insights raised Mimecast from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Jefferies Financial Group upped their price objective on Mimecast to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 12th. Deutsche Bank upped their price objective on Mimecast to $52.00 and gave the stock a “buy” rating in a report on Tuesday, February 12th. Finally, BidaskClub raised Mimecast from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. Three research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Mimecast presently has a consensus rating of “Buy” and a consensus price target of $53.56.
Shares of MIME traded up $0.48 during mid-day trading on Friday, hitting $46.04. 239,874 shares of the stock were exchanged, compared to its average volume of 629,170. The stock has a market capitalization of $2.78 billion, a price-to-earnings ratio of -657.71, a price-to-earnings-growth ratio of 26.86 and a beta of 1.10. Mimecast Ltd has a 52-week low of $29.67 and a 52-week high of $54.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.29 and a quick ratio of 1.29.
Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The firm had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $91.34 million. Mimecast had a negative return on equity of 2.85% and a negative net margin of 2.06%. The firm’s revenue was up 25.6% on a year-over-year basis. During the same period last year, the company earned ($0.05) earnings per share. On average, sell-side analysts expect that Mimecast Ltd will post 0.09 earnings per share for the current year.
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Mimecast Company Profile
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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