California Public Employees Retirement System decreased its position in Mimecast Ltd (NASDAQ:MIME) by 4.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,307 shares of the technology company’s stock after selling 1,697 shares during the quarter. California Public Employees Retirement System’s holdings in Mimecast were worth $1,861,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in MIME. Oppenheimer Asset Management Inc. purchased a new stake in shares of Mimecast during the fourth quarter worth $72,000. Signition LP purchased a new stake in shares of Mimecast during the first quarter worth $246,000. Amundi Pioneer Asset Management Inc. purchased a new stake in shares of Mimecast during the fourth quarter worth $192,000. PNC Financial Services Group Inc. increased its position in shares of Mimecast by 71.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 6,278 shares of the technology company’s stock worth $211,000 after acquiring an additional 2,614 shares during the period. Finally, MML Investors Services LLC purchased a new stake in shares of Mimecast during the fourth quarter worth $222,000. 71.70% of the stock is currently owned by institutional investors.
Shares of MIME stock opened at $44.68 on Thursday. The company has a debt-to-equity ratio of 0.75, a current ratio of 1.30 and a quick ratio of 1.30. The firm has a market cap of $2.69 billion, a P/E ratio of -638.29, a PEG ratio of 26.00 and a beta of 1.23. Mimecast Ltd has a 12 month low of $29.67 and a 12 month high of $54.57.
Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, May 13th. The technology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.02). The firm had revenue of $92.20 million for the quarter, compared to analyst estimates of $91.34 million. Mimecast had a negative return on equity of 2.72% and a negative net margin of 2.06%. The business’s revenue for the quarter was up 25.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.05) EPS. On average, sell-side analysts anticipate that Mimecast Ltd will post 0.09 earnings per share for the current year.
In other Mimecast news, Director Neil Murray sold 139,496 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $46.64, for a total value of $6,506,093.44. Following the completion of the transaction, the director now owns 2,281,665 shares in the company, valued at $106,416,855.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Edward Vincent Jennings sold 11,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $44.12, for a total transaction of $485,320.00. Following the completion of the transaction, the chief operating officer now owns 12,251 shares of the company’s stock, valued at approximately $540,514.12. The disclosure for this sale can be found here. In the last quarter, insiders have sold 278,746 shares of company stock valued at $13,072,636. Insiders own 29.00% of the company’s stock.
A number of analysts have recently weighed in on the company. BidaskClub lowered Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. ValuEngine lowered Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. Imperial Capital reaffirmed an “outperform” rating and set a $55.00 price objective (up previously from $52.00) on shares of Mimecast in a research report on Tuesday, May 14th. Bank of America assumed coverage on Mimecast in a research report on Friday, April 12th. They set a “buy” rating and a $60.00 price objective on the stock. Finally, BMO Capital Markets upped their price objective on Mimecast from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 14th. Three equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $54.31.
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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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