Mulesoft Inc (NASDAQ:MULE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Saturday.

According to Zacks, “MuleSoft, Inc. owns and operates Anypoint Platform, an integration solution for connecting applications, data sources, and devices, both on-premises and in the cloud. Its hybrid integration platform includes iPaaS, ESB and a unified solution for API management, design and publishing. MuleSoft, Inc. is headquartered in San Francisco, California. “

Several other equities research analysts have also commented on MULE. William Blair reiterated an “outperform” rating on shares of Mulesoft in a research note on Sunday, July 30th. Barclays PLC reiterated a “hold” rating and set a $24.00 price objective on shares of Mulesoft in a research note on Wednesday, August 2nd. Piper Jaffray Companies reiterated a “buy” rating and set a $27.00 price objective on shares of Mulesoft in a research note on Monday, August 14th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Mulesoft in a research note on Monday, September 18th. Finally, BidaskClub lowered Mulesoft from a “hold” rating to a “sell” rating in a research note on Saturday, September 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $27.29.

Mulesoft (NASDAQ MULE) traded down $0.18 during trading hours on Friday, reaching $23.50. The company’s stock had a trading volume of 963,040 shares, compared to its average volume of 1,330,000. Mulesoft has a 52 week low of $19.40 and a 52 week high of $29.00.

Mulesoft (NASDAQ:MULE) last posted its quarterly earnings data on Thursday, October 26th. The company reported ($0.13) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.17) by $0.04. Mulesoft had a negative return on equity of 40.65% and a negative net margin of 32.36%. The company had revenue of $77.60 million during the quarter, compared to analyst estimates of $71.52 million. Mulesoft’s revenue for the quarter was up 57.1% on a year-over-year basis.

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In other news, major shareholder Ventures Fund I. L.P. Sapphire sold 1,100,000 shares of the business’s stock in a transaction that occurred on Monday, October 9th. The stock was sold at an average price of $21.47, for a total transaction of $23,617,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Winblad Venture Partner Hummer sold 65,872 shares of the business’s stock in a transaction that occurred on Thursday, November 2nd. The stock was sold at an average price of $23.52, for a total value of $1,549,309.44. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,290,872 shares of company stock worth $28,075,059.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bain Capital Public Equity Management LLC lifted its holdings in Mulesoft by 87.4% in the second quarter. Bain Capital Public Equity Management LLC now owns 1,317,471 shares of the company’s stock valued at $32,858,000 after acquiring an additional 614,389 shares during the last quarter. Gilder Gagnon Howe & Co. LLC lifted its holdings in Mulesoft by 2.8% in the second quarter. Gilder Gagnon Howe & Co. LLC now owns 1,296,332 shares of the company’s stock valued at $32,331,000 after acquiring an additional 34,880 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Mulesoft by 5,501.7% in the second quarter. Vanguard Group Inc. now owns 1,260,372 shares of the company’s stock valued at $31,434,000 after acquiring an additional 1,237,872 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in Mulesoft by 62.2% in the second quarter. JPMorgan Chase & Co. now owns 1,214,225 shares of the company’s stock valued at $30,283,000 after acquiring an additional 465,595 shares during the last quarter. Finally, Lord Abbett & CO. LLC lifted its holdings in Mulesoft by 53.6% in the second quarter. Lord Abbett & CO. LLC now owns 1,202,994 shares of the company’s stock valued at $30,003,000 after acquiring an additional 420,025 shares during the last quarter.

Mulesoft Company Profile

MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.

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Analyst Recommendations for Mulesoft (NASDAQ:MULE)

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