Mimecast (NASDAQ:MIME) announced its quarterly earnings data on Monday. The technology company reported $0.02 EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.04), Morningstar.com reports. Mimecast had a negative return on equity of 10.33% and a negative net margin of 5.44%.
MIME opened at $42.82 on Tuesday. Mimecast has a fifty-two week low of $29.67 and a fifty-two week high of $46.87. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market cap of $2.54 billion, a PE ratio of -225.37 and a beta of 1.00.
In related news, CFO Peter Andrew James Campbell sold 92,706 shares of the firm’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $39.33, for a total value of $3,646,126.98. Following the transaction, the chief financial officer now directly owns 215,000 shares of the company’s stock, valued at approximately $8,455,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Peter Bauer sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $35.00, for a total value of $262,500.00. Following the completion of the transaction, the chief executive officer now directly owns 101,250 shares in the company, valued at $3,543,750. The disclosure for this sale can be found here. Insiders have sold a total of 252,409 shares of company stock valued at $9,019,116 over the last ninety days. Company insiders own 29.00% of the company’s stock.
Several hedge funds have recently modified their holdings of MIME. Scge Management L.P. bought a new position in shares of Mimecast in the 3rd quarter valued at approximately $40,205,000. Wells Fargo & Company MN raised its stake in shares of Mimecast by 14,742.5% in the 3rd quarter. Wells Fargo & Company MN now owns 542,047 shares of the technology company’s stock valued at $22,701,000 after acquiring an additional 538,395 shares in the last quarter. Brown Advisory Inc. raised its stake in shares of Mimecast by 17.6% in the 3rd quarter. Brown Advisory Inc. now owns 2,380,704 shares of the technology company’s stock valued at $99,704,000 after acquiring an additional 356,750 shares in the last quarter. Marshall Wace LLP bought a new position in shares of Mimecast in the 3rd quarter valued at approximately $14,404,000. Finally, Allianz Asset Management GmbH raised its stake in shares of Mimecast by 303.5% in the 3rd quarter. Allianz Asset Management GmbH now owns 399,821 shares of the technology company’s stock valued at $16,745,000 after acquiring an additional 300,727 shares in the last quarter. 71.42% of the stock is currently owned by institutional investors and hedge funds.
MIME has been the subject of a number of research reports. Summit Insights lowered Mimecast from a “buy” rating to a “hold” rating in a research report on Monday, October 29th. BidaskClub lowered Mimecast from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, December 18th. Wedbush initiated coverage on Mimecast in a research report on Thursday, December 6th. They set a “neutral” rating and a $40.00 price objective for the company. ValuEngine lowered Mimecast from a “buy” rating to a “hold” rating in a research report on Wednesday, December 5th. Finally, Robert W. Baird initiated coverage on Mimecast in a research report on Wednesday, October 17th. They set an “outperform” rating and a $45.00 price objective for the company. Three research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $48.31.
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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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