State Street Corp Acquires 49,601 Shares of Mobileiron Inc (NASDAQ:MOBL)

State Street Corp raised its holdings in Mobileiron Inc (NASDAQ:MOBL) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,336,204 shares of the software maker’s stock after purchasing an additional 49,601 shares during the quarter. State Street Corp owned 2.02% of Mobileiron worth $8,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Advisor Group Holdings Inc. bought a new position in Mobileiron in the 1st quarter valued at $55,000. Arizona State Retirement System bought a new position in shares of Mobileiron during the 1st quarter worth $60,000. Aperio Group LLC bought a new position in shares of Mobileiron during the 1st quarter worth $67,000. Balyasny Asset Management LLC bought a new position in shares of Mobileiron during the 1st quarter worth $67,000. Finally, SG Americas Securities LLC grew its stake in shares of Mobileiron by 238.3% during the 1st quarter. SG Americas Securities LLC now owns 37,330 shares of the software maker’s stock worth $142,000 after acquiring an additional 26,295 shares during the period. Hedge funds and other institutional investors own 66.85% of the company’s stock.

In other Mobileiron news, CEO Simon Biddiscombe sold 105,800 shares of the firm’s stock in a transaction dated Thursday, July 30th. The stock was sold at an average price of $6.93, for a total value of $733,194.00. Following the sale, the chief executive officer now owns 1,371,863 shares of the company’s stock, valued at approximately $9,507,010.59. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Brian Foster sold 7,500 shares of the firm’s stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $4.50, for a total value of $33,750.00. Following the completion of the sale, the vice president now directly owns 383,742 shares in the company, valued at approximately $1,726,839. The disclosure for this sale can be found here. Insiders have sold a total of 153,300 shares of company stock worth $956,544 in the last three months. 17.30% of the stock is currently owned by insiders.

Several research firms have recently weighed in on MOBL. Zacks Investment Research upgraded Mobileiron from a “hold” rating to a “buy” rating and set a $5.25 price target for the company in a research note on Friday, May 1st. BidaskClub upgraded Mobileiron from a “hold” rating to a “buy” rating in a research note on Friday, July 24th. Finally, Northland Securities reiterated a “hold” rating and set a $6.00 price target (up previously from $5.00) on shares of Mobileiron in a research note on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $6.42.

Shares of MOBL opened at $6.23 on Friday. The stock’s 50-day simple moving average is $5.05 and its 200 day simple moving average is $4.55. The stock has a market capitalization of $718.76 million, a price-to-earnings ratio of -19.47 and a beta of 1.51. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.33 and a current ratio of 1.33. Mobileiron Inc has a 52-week low of $2.94 and a 52-week high of $7.79.

Mobileiron (NASDAQ:MOBL) last issued its quarterly earnings data on Wednesday, July 29th. The software maker reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.07. The business had revenue of $58.93 million for the quarter, compared to analysts’ expectations of $49.91 million. Mobileiron had a negative return on equity of 96.72% and a negative net margin of 17.37%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.04) EPS. On average, research analysts forecast that Mobileiron Inc will post -0.4 earnings per share for the current fiscal year.

Mobileiron Company Profile

MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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Institutional Ownership by Quarter for Mobileiron (NASDAQ:MOBL)

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