Mimecast Ltd (MIME) Director Sells $6,506,093.44 in Stock

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Mimecast Ltd (NASDAQ:MIME) Director Neil Murray sold 139,496 shares of the stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $46.64, for a total value of $6,506,093.44. Following the transaction, the director now owns 2,281,665 shares in the company, valued at $106,416,855.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Neil Murray also recently made the following trade(s):

  • On Monday, April 22nd, Neil Murray sold 25,000 shares of Mimecast stock. The shares were sold at an average price of $47.94, for a total value of $1,198,500.00.
  • On Friday, March 22nd, Neil Murray sold 25,000 shares of Mimecast stock. The shares were sold at an average price of $46.65, for a total value of $1,166,250.00.
  • On Friday, February 22nd, Neil Murray sold 25,000 shares of Mimecast stock. The shares were sold at an average price of $48.31, for a total value of $1,207,750.00.

Shares of MIME stock opened at $46.04 on Friday. The stock has a market cap of $2.78 billion, a P/E ratio of -657.71, a P/E/G ratio of 26.86 and a beta of 1.10. Mimecast Ltd has a 1-year low of $29.67 and a 1-year high of $54.57. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.29 and a quick ratio of 1.29.

Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.02). The company had revenue of $92.20 million for the quarter, compared to analysts’ expectations of $91.34 million. Mimecast had a negative net margin of 2.06% and a negative return on equity of 2.85%. The company’s revenue was up 25.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.05) earnings per share. As a group, equities research analysts expect that Mimecast Ltd will post 0.09 EPS for the current fiscal year.

A number of hedge funds have recently modified their holdings of the stock. Advisor Group Inc. lifted its holdings in Mimecast by 33.6% in the 1st quarter. Advisor Group Inc. now owns 970 shares of the technology company’s stock worth $46,000 after buying an additional 244 shares during the period. Roundview Capital LLC lifted its holdings in Mimecast by 1.3% in the 1st quarter. Roundview Capital LLC now owns 20,836 shares of the technology company’s stock worth $987,000 after buying an additional 275 shares during the period. Zions Bancorporation N.A. lifted its holdings in Mimecast by 6.7% in the 1st quarter. Zions Bancorporation N.A. now owns 4,844 shares of the technology company’s stock worth $229,000 after buying an additional 305 shares during the period. NumerixS Investment Technologies Inc lifted its holdings in Mimecast by 19.5% in the 1st quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock worth $114,000 after buying an additional 390 shares during the period. Finally, Advisors Asset Management Inc. lifted its holdings in Mimecast by 4.5% in the 1st quarter. Advisors Asset Management Inc. now owns 10,386 shares of the technology company’s stock worth $492,000 after buying an additional 445 shares during the period. Institutional investors own 67.70% of the company’s stock.

Several brokerages have recently commented on MIME. BidaskClub lowered Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. ValuEngine lowered Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, May 14th. Cowen began coverage on Mimecast in a research report on Thursday. They set an “outperform” rating and a $60.00 price objective on the stock. Wedbush reiterated a “neutral” rating and set a $50.00 price objective (up from $47.00) on shares of Mimecast in a research report on Tuesday, May 14th. Finally, Zacks Investment Research cut Mimecast from a “buy” rating to a “hold” rating in a report on Saturday, February 16th. Three investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $53.56.

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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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