Mimecast Ltd (MIME) COO Sells $503,360.00 in Stock

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Mimecast Ltd (NASDAQ:MIME) COO Edward Vincent Jennings sold 11,000 shares of the stock in a transaction on Monday, March 11th. The stock was sold at an average price of $45.76, for a total transaction of $503,360.00. Following the sale, the chief operating officer now directly owns 11,000 shares in the company, valued at $503,360. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Edward Vincent Jennings also recently made the following trade(s):

  • On Friday, February 22nd, Edward Vincent Jennings sold 130,000 shares of Mimecast stock. The stock was sold at an average price of $48.28, for a total transaction of $6,276,400.00.
  • On Monday, February 11th, Edward Vincent Jennings sold 11,000 shares of Mimecast stock. The stock was sold at an average price of $41.98, for a total transaction of $461,780.00.
  • On Tuesday, January 22nd, Edward Vincent Jennings sold 7,500 shares of Mimecast stock. The stock was sold at an average price of $33.24, for a total transaction of $249,300.00.
  • On Monday, December 24th, Edward Vincent Jennings sold 7,500 shares of Mimecast stock. The stock was sold at an average price of $29.98, for a total transaction of $224,850.00.

NASDAQ:MIME opened at $46.38 on Friday. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.20. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of -244.11 and a beta of 1.12. Mimecast Ltd has a fifty-two week low of $29.67 and a fifty-two week high of $51.66.

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

A number of equities analysts have weighed in on MIME shares. Zacks Investment Research upgraded shares of Mimecast from a “hold” rating to a “buy” rating and set a $56.00 price objective for the company in a research report on Friday, February 15th. Deutsche Bank upped their price objective on shares of Mimecast to $52.00 and gave the stock a “buy” rating in a research report on Tuesday, February 12th. Oppenheimer upped their price objective on shares of Mimecast from $45.00 to $53.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 12th. Royal Bank of Canada upped their price objective on shares of Mimecast to $52.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 12th. Finally, ValuEngine upgraded shares of Mimecast from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. Three investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $50.93.

Several hedge funds and other institutional investors have recently modified their holdings of MIME. First Trust Advisors LP raised its position 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 valued at $13,044,000 after buying an additional 4,780 shares during the last quarter. Wells Fargo & Company MN raised its position in shares of Mimecast by 14,742.5% in the third quarter. Wells Fargo & Company MN now owns 542,047 shares of the technology company’s stock valued at $22,701,000 after buying an additional 538,395 shares during the last quarter. Bessemer Group Inc. acquired a new stake in shares of Mimecast in the third quarter valued at about $383,000. GW&K Investment Management LLC raised its position in shares of Mimecast by 28.8% in the third quarter. GW&K Investment Management LLC now owns 210,566 shares of the technology company’s stock valued at $8,819,000 after buying an additional 47,129 shares during the last quarter. Finally, Alliancebernstein L.P. acquired a new stake in shares of Mimecast in the third quarter valued at about $4,272,000. Institutional investors and hedge funds own 70.89% of the company’s stock.

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About Mimecast

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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