Mimecast (NASDAQ:MIME) was upgraded by BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Wednesday.
MIME has been the subject of a number of other reports. Zacks Investment Research lowered Mimecast from a “hold” rating to a “sell” rating in a report on Thursday, August 16th. Stephens boosted their price objective on Mimecast from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, May 15th. Barclays boosted their price objective on Mimecast from $40.00 to $47.00 and gave the stock an “overweight” rating in a report on Tuesday, May 15th. BMO Capital Markets decreased their price objective on Mimecast from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 10th. Finally, Needham & Company LLC boosted their price objective on Mimecast from $46.00 to $49.00 and gave the stock a “buy” rating in a report on Tuesday, May 15th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Mimecast has a consensus rating of “Buy” and a consensus target price of $44.33.
Shares of Mimecast stock opened at $40.69 on Wednesday. Mimecast has a one year low of $26.50 and a one year high of $46.87. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.41 and a quick ratio of 1.41.
In other news, insider Neil Murray sold 213,465 shares of the business’s stock in a transaction that occurred on Tuesday, June 26th. The stock was sold at an average price of $41.45, for a total value of $8,848,124.25. Following the transaction, the insider now owns 2,734,615 shares in the company, valued at approximately $113,349,791.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider John J. Walsh, Jr. sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, August 20th. The stock was sold at an average price of $38.50, for a total value of $385,000.00. The disclosure for this sale can be found here. Insiders sold a total of 620,641 shares of company stock worth $25,547,761 in the last 90 days. Company insiders own 29.00% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Advisors Asset Management Inc. purchased a new position in shares of Mimecast in the 2nd quarter worth approximately $238,000. Verition Fund Management LLC purchased a new position in shares of Mimecast in the 2nd quarter worth approximately $240,000. California Public Employees Retirement System boosted its stake in shares of Mimecast by 32.1% in the 2nd quarter. California Public Employees Retirement System now owns 35,058 shares of the technology company’s stock worth $1,445,000 after buying an additional 8,529 shares during the last quarter. Putnam Investments LLC purchased a new position in shares of Mimecast in the 2nd quarter worth approximately $1,496,000. Finally, Millennium Management LLC boosted its stake in shares of Mimecast by 111.6% in the 2nd quarter. Millennium Management LLC now owns 482,758 shares of the technology company’s stock worth $19,894,000 after buying an additional 254,642 shares during the last quarter. Hedge funds and other institutional investors own 68.05% of the company’s stock.
Mimecast Company Profile
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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