Mimecast Ltd (NASDAQ:MIME) Shares Acquired by Envestnet Asset Management Inc.

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Envestnet Asset Management Inc. increased its position in Mimecast Ltd (NASDAQ:MIME) by 14.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 17,273 shares of the technology company’s stock after acquiring an additional 2,205 shares during the period. Envestnet Asset Management Inc.’s holdings in Mimecast were worth $720,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted its holdings in shares of Mimecast by 48.8% in the first quarter. Wellington Management Group LLP now owns 4,916,139 shares of the technology company’s stock valued at $173,540,000 after buying an additional 1,612,574 shares during the period. Waddell & Reed Financial Inc. lifted its holdings in shares of Mimecast by 0.6% in the first quarter. Waddell & Reed Financial Inc. now owns 1,394,771 shares of the technology company’s stock valued at $49,235,000 after buying an additional 7,685 shares during the period. First Trust Advisors LP lifted its holdings in shares of Mimecast by 18.6% in the first quarter. First Trust Advisors LP now owns 994,015 shares of the technology company’s stock valued at $35,089,000 after buying an additional 155,888 shares during the period. Ranger Investment Management L.P. lifted its holdings in shares of Mimecast by 27.8% in the first quarter. Ranger Investment Management L.P. now owns 895,865 shares of the technology company’s stock valued at $31,624,000 after buying an additional 194,817 shares during the period. Finally, Loomis Sayles & Co. L P lifted its holdings in shares of Mimecast by 9.2% in the first quarter. Loomis Sayles & Co. L P now owns 778,492 shares of the technology company’s stock valued at $27,481,000 after buying an additional 65,488 shares during the period. Institutional investors and hedge funds own 79.10% of the company’s stock.

Shares of MIME stock opened at $46.93 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.04 and a quick ratio of 1.04. Mimecast Ltd has a fifty-two week low of $25.14 and a fifty-two week high of $54.40. The stock’s 50-day moving average is $42.86 and its two-hundred day moving average is $41.36. The firm has a market cap of $2.97 billion, a P/E ratio of -1,173.25, a PEG ratio of 29.07 and a beta of 1.24.

Mimecast (NASDAQ:MIME) last issued its earnings results on Monday, May 11th. The technology company reported $0.15 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.03. Mimecast had a positive return on equity of 0.61% and a negative net margin of 0.52%. The company had revenue of $114.20 million for the quarter, compared to analyst estimates of $112.39 million. During the same period in the prior year, the firm posted $0.07 EPS. The business’s revenue was up 24.1% compared to the same quarter last year. As a group, research analysts expect that Mimecast Ltd will post 0.06 EPS for the current year.

Several brokerages have recently commented on MIME. Northland Securities upped their target price on Mimecast from $55.00 to $73.00 and gave the company an “outperform” rating in a report on Tuesday, April 14th. Monness Crespi & Hardt reaffirmed a “buy” rating and set a $50.00 target price on shares of Mimecast in a report on Tuesday, July 28th. Oppenheimer reduced their target price on Mimecast from $50.00 to $48.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. BMO Capital Markets reduced their target price on Mimecast from $51.00 to $50.00 and set an “outperform” rating for the company in a report on Tuesday, May 12th. Finally, SunTrust Banks reduced their target price on Mimecast from $63.00 to $56.00 and set a “buy” rating for the company in a report on Tuesday, May 12th. Five analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $51.65.

In other Mimecast news, Director Neil Murray sold 35,000 shares of the company’s stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $36.96, for a total value of $1,293,600.00. Following the transaction, the director now directly owns 1,486,665 shares of the company’s stock, valued at approximately $54,947,138.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Peter Bauer sold 8,458 shares of the company’s stock in a transaction dated Friday, May 8th. The stock was sold at an average price of $44.00, for a total value of $372,152.00. Following the completion of the transaction, the chief executive officer now directly owns 125,000 shares in the company, valued at $5,500,000. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 406,400 shares of company stock worth $17,462,713. Insiders own 11.60% 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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Institutional Ownership by Quarter for Mimecast (NASDAQ:MIME)

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