Marshall Wace North America L.P. boosted its position in Mimecast Ltd (NASDAQ:MIME) by 86.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,282 shares of the technology company’s stock after purchasing an additional 5,226 shares during the period. Marshall Wace North America L.P.’s holdings in Mimecast were worth $534,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SQN Investors LP bought a new position in Mimecast in the first quarter worth approximately $48,064,000. Whale Rock Capital Management LLC raised its stake in 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 in the last quarter. Ranger Investment Management L.P. purchased a new position in Mimecast in the fourth quarter worth $20,892,000. Portolan Capital Management LLC purchased a new position in Mimecast in the fourth quarter worth $16,649,000. Finally, Brown Advisory Inc. grew its holdings in Mimecast by 17.3% in the fourth quarter. Brown Advisory Inc. now owns 2,792,107 shares of the technology company’s stock worth $93,896,000 after purchasing an additional 411,403 shares during the last quarter. 71.73% of the stock is owned by institutional investors and hedge funds.
Mimecast stock traded down $0.10 during mid-day trading on Thursday, reaching $49.12. 232,976 shares of the company’s stock were exchanged, compared to its average volume of 555,440. Mimecast Ltd has a twelve month low of $29.67 and a twelve month high of $54.57. The stock’s fifty day simple moving average is $46.36. The firm has a market capitalization of $3.00 billion, a P/E ratio of -701.71, a P/E/G ratio of 59.30 and a beta of 1.13. The company has a current ratio of 1.30, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75.
In other news, Director Neil Murray sold 25,000 shares of Mimecast stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.94, for a total value of $1,198,500.00. Following the sale, the director now owns 2,284,147 shares of the company’s stock, valued at $109,502,007.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Peter Bauer sold 18,750 shares of Mimecast stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $47.56, for a total transaction of $891,750.00. Following the completion of the sale, the chief executive officer now directly owns 35,096 shares in the company, valued at approximately $1,669,165.76. The disclosure for this sale can be found here. Insiders have sold a total of 488,746 shares of company stock worth $22,701,616 over the last three months. 29.00% of the stock is currently owned by insiders.
MIME has been the topic of several analyst reports. Needham & Company LLC lowered shares of Acquity Group from a “buy” rating to a “hold” rating in a report on Monday, May 6th. ValuEngine lowered shares of Xylem from a “buy” rating to a “hold” rating in a report on Tuesday, May 14th. BMO Capital Markets set a $13.00 price objective on shares of Vale and gave the company a “hold” rating in a report on Tuesday, May 14th. Wedbush set a $20.00 price target on shares of Ares Capital and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, Berenberg Bank reaffirmed a “buy” rating and issued a GBX 3,600 ($47.04) price target on shares of in a report on Friday, May 31st. Four investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $54.31.
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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