Redwood Investments LLC boosted its position in shares of Mimecast Ltd (NASDAQ:MIME) by 19.6% in the first quarter, Holdings Channel reports. The institutional investor owned 229,801 shares of the technology company’s stock after acquiring an additional 37,675 shares during the period. Redwood Investments LLC’s holdings in Mimecast were worth $10,881,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Brown Advisory Inc. lifted its stake in shares of Mimecast by 17.3% in the 4th quarter. Brown Advisory Inc. now owns 2,792,107 shares of the technology company’s stock valued at $93,896,000 after purchasing an additional 411,403 shares during the last quarter. Whale Rock Capital Management LLC raised its holdings in shares of Mimecast by 77.4% in the fourth quarter. Whale Rock Capital Management LLC now owns 1,623,686 shares of the technology company’s stock worth $54,605,000 after buying an additional 708,198 shares during the period. Polar Capital LLP raised its holdings in shares of Mimecast by 52.1% in the fourth quarter. Polar Capital LLP now owns 946,401 shares of the technology company’s stock worth $31,827,000 after buying an additional 324,017 shares during the period. Ranger Investment Management L.P. purchased a new stake in shares of Mimecast in the fourth quarter worth approximately $20,892,000. Finally, Portolan Capital Management LLC purchased a new stake in shares of Mimecast in the fourth quarter worth approximately $16,649,000. 64.43% of the stock is owned by institutional investors.
MIME has been the topic of several research reports. BidaskClub upgraded Mimecast from a “hold” rating to a “buy” rating in a report on Thursday, January 31st. ValuEngine upgraded Mimecast from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. BMO Capital Markets lifted their price target on Mimecast from $43.00 to $52.00 and gave the company an “outperform” rating in a research note on Tuesday, February 12th. Jefferies Financial Group lifted their price target on Mimecast to $55.00 and gave the company a “buy” rating in a research note on Tuesday, February 12th. Finally, Wedbush lifted their price target on Mimecast from $40.00 to $47.00 and gave the company a “neutral” rating in a research note on Tuesday, February 12th. Three analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Mimecast has an average rating of “Buy” and a consensus price target of $53.13.
In other news, insider Neil Murray sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $46.65, for a total transaction of $1,166,250.00. Following the transaction, the insider now directly owns 2,307,665 shares in the company, valued at approximately $107,652,572.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Edward Vincent Jennings sold 130,000 shares of the business’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $48.28, for a total value of $6,276,400.00. Following the transaction, the chief operating officer now owns 130,000 shares in the company, valued at $6,276,400. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 371,250 shares of company stock valued at $17,804,860. 29.00% of the stock is owned by company insiders.
NASDAQ:MIME traded down $0.72 during trading hours on Friday, hitting $46.21. 2,490 shares of the stock were exchanged, compared to its average volume of 673,720. Mimecast Ltd has a 52-week low of $29.67 and a 52-week 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. The firm has a market cap of $2.84 billion, a P/E ratio of -662.57, a price-to-earnings-growth ratio of 14.65 and a beta of 1.10.
Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). Mimecast had a negative return on equity of 2.85% and a negative net margin of 2.06%. The firm had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $91.34 million. During the same quarter last year, the firm posted ($0.05) earnings per share. Mimecast’s quarterly revenue was up 25.6% on a year-over-year basis. On average, research analysts forecast that Mimecast Ltd will post 0.16 earnings per share for the current year.
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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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