Ameriprise Financial Inc. reduced its stake in shares of Mimecast Ltd. (NASDAQ:MIME) by 22.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 462,933 shares of the company’s stock after selling 130,300 shares during the period. Ameriprise Financial Inc. owned 0.85% of Mimecast worth $4,632,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the stock. Acadian Asset Management LLC increased its stake in shares of Mimecast by 228.0% in the second quarter. Acadian Asset Management LLC now owns 117,820 shares of the company’s stock valued at $1,178,000 after buying an additional 81,902 shares in the last quarter. PNC Financial Services Group Inc. bought a new stake in Mimecast during the second quarter valued at $725,000. Bogle Investment Management L P DE bought a new stake in Mimecast during the first quarter valued at $573,000. Monashee Investment Management LLC bought a new stake in Mimecast during the second quarter valued at $509,000. Finally, JPMorgan Chase & Co. boosted its stake in Mimecast by 14.5% in the first quarter. JPMorgan Chase & Co. now owns 261,724 shares of the company’s stock valued at $2,546,000 after buying an additional 33,155 shares during the last quarter. 30.67% of the stock is currently owned by institutional investors.
Shares of Mimecast Ltd. (NASDAQ:MIME) traded up 1.32% on Monday, reaching $19.15. 10,875 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $17.30 and its 200 day moving average price is $11.91. Mimecast Ltd. has a 12 month low of $6.01 and a 12 month high of $20.10. The company’s market cap is $1.04 billion.
Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.08. The firm had revenue of $41.46 million for the quarter, compared to analyst estimates of $39.85 million. The firm’s revenue for the quarter was up 24.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.04) earnings per share. Equities research analysts predict that Mimecast Ltd. will post $0.02 EPS for the current fiscal year.
Several research firms recently weighed in on MIME. Zacks Investment Research upgraded shares of Mimecast from a “sell” rating to a “hold” rating in a research note on Wednesday, July 6th. Barclays PLC increased their target price on shares of Mimecast from $13.00 to $16.00 and gave the company an “overweight” rating in a research note on Tuesday, August 9th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and issued a $15.00 target price on shares of Mimecast in a research note on Wednesday, August 3rd. Dougherty & Co increased their target price on shares of Mimecast from $12.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, August 9th. Finally, Royal Bank Of Canada reiterated a “buy” rating on shares of Mimecast in a research note on Thursday, June 23rd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Mimecast presently has a consensus rating of “Buy” and an average target price of $16.79.
Mimecast Limited is a United Kingdom-based business e-mail and data safety solutions provider. The Company offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. Its products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.
Want to see what other hedge funds are holding MIME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mimecast Ltd. (NASDAQ:MIME).
Receive News & Ratings for Mimecast Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mimecast Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.