Mimecast Ltd (MIME) Shares Sold by JPMorgan Chase & Co.

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JPMorgan Chase & Co. cut its stake in Mimecast Ltd (NASDAQ:MIME) by 42.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 198,730 shares of the technology company’s stock after selling 144,040 shares during the quarter. JPMorgan Chase & Co. owned 0.33% of Mimecast worth $8,323,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. DekaBank Deutsche Girozentrale boosted its holdings in shares of Mimecast by 131.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock worth $110,000 after buying an additional 1,511 shares during the last quarter. Raymond James & Associates boosted its holdings in shares of Mimecast by 49.3% in the second quarter. Raymond James & Associates now owns 11,524 shares of the technology company’s stock worth $475,000 after buying an additional 3,803 shares during the last quarter. Simplex Trading LLC purchased a new position in shares of Mimecast in the third quarter worth approximately $183,000. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Mimecast by 15.3% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 33,344 shares of the technology company’s stock worth $1,393,000 after buying an additional 4,418 shares during the last quarter. Finally, First Trust Advisors LP boosted its holdings in shares of Mimecast by 1.6% in the third quarter. First Trust Advisors LP now owns 311,454 shares of the technology company’s stock worth $13,044,000 after buying an additional 4,780 shares during the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

A number of equities analysts recently issued reports on MIME shares. BidaskClub downgraded shares of Mimecast from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 18th. Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Friday, November 16th. Monness Crespi & Hardt dropped their price objective on shares of Mimecast from $48.00 to $45.00 and set a “buy” rating on the stock in a report on Friday, November 9th. ValuEngine raised shares of Mimecast from a “hold” rating to a “buy” rating in a report on Monday, February 4th. Finally, Jefferies Financial Group raised their price objective on shares of Mimecast to $55.00 and gave the stock a “buy” rating in a report on Tuesday, February 12th. Three research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $50.93.

Shares of NASDAQ:MIME opened at $47.80 on Wednesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.20. Mimecast Ltd has a 1-year low of $29.67 and a 1-year high of $51.66. The company has a market cap of $2.88 billion, a price-to-earnings ratio of -251.58 and a beta of 1.00.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings results on Monday, February 11th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). Mimecast had a negative net margin of 4.14% and a negative return on equity of 6.51%. The firm had revenue of $87.61 million for the quarter, compared to analysts’ expectations of $84.80 million. On average, equities research analysts predict that Mimecast Ltd will post -0.04 EPS for the current fiscal year.

In other news, CEO Peter Bauer sold 18,750 shares of Mimecast stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $35.30, for a total transaction of $661,875.00. Following the sale, the chief executive officer now owns 90,000 shares in the company, valued at $3,177,000. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Peter Andrew James Campbell sold 4,000 shares of Mimecast stock in a transaction that occurred on Friday, November 23rd. The shares were sold at an average price of $35.12, for a total transaction of $140,480.00. Following the sale, the chief financial officer now owns 224,000 shares in the company, valued at approximately $7,866,880. The disclosure for this sale can be found here. Insiders have sold 298,409 shares of company stock worth $11,265,371 in the last ninety days. Insiders own 29.00% of the company’s stock.

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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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Institutional Ownership by Quarter for Mimecast (NASDAQ:MIME)

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