Legal & General Group Plc Has $9.17 Million Stake in Mimecast Ltd (MIME)

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Legal & General Group Plc grew its stake in shares of Mimecast Ltd (NASDAQ:MIME) by 9.4% in the second quarter, HoldingsChannel.com reports. The firm owned 222,416 shares of the technology company’s stock after buying an additional 19,101 shares during the quarter. Legal & General Group Plc’s holdings in Mimecast were worth $9,166,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Trexquant Investment LP acquired a new stake in shares of Mimecast during the 1st quarter valued at $399,000. American Century Companies Inc. boosted its stake in shares of Mimecast by 26.1% during the 1st quarter. American Century Companies Inc. now owns 243,663 shares of the technology company’s stock valued at $8,633,000 after buying an additional 50,501 shares during the period. US Bancorp DE boosted its stake in shares of Mimecast by 207.8% during the 1st quarter. US Bancorp DE now owns 21,160 shares of the technology company’s stock valued at $750,000 after buying an additional 14,285 shares during the period. BlackRock Inc. boosted its stake in shares of Mimecast by 309.7% during the 1st quarter. BlackRock Inc. now owns 22,453 shares of the technology company’s stock valued at $796,000 after buying an additional 16,972 shares during the period. Finally, Spark Investment Management LLC acquired a new stake in shares of Mimecast during the 1st quarter valued at $1,721,000. 68.05% of the stock is owned by hedge funds and other institutional investors.

MIME stock opened at $42.38 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.41 and a current ratio of 1.41. Mimecast Ltd has a 1 year low of $26.50 and a 1 year high of $46.87.

Mimecast (NASDAQ:MIME) last released its quarterly earnings data on Thursday, August 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. Mimecast had a negative net margin of 5.55% and a negative return on equity of 11.41%. The business had revenue of $78.40 million during the quarter, compared to analyst estimates of $76.71 million. During the same quarter in the previous year, the business earned $0.01 EPS. Mimecast’s quarterly revenue was up 34.7% compared to the same quarter last year. equities analysts predict that Mimecast Ltd will post -0.13 EPS for the current fiscal year.

In related news, Director Christopher Fitzgerald sold 6,000 shares of Mimecast stock in a transaction on Friday, September 7th. The shares were sold at an average price of $40.98, for a total value of $245,880.00. Following the completion of the sale, the director now owns 27,821 shares of the company’s stock, valued at approximately $1,140,104.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Neil Murray sold 213,465 shares of Mimecast stock in a transaction on Tuesday, June 26th. The shares were sold at an average price of $41.45, for a total transaction of $8,848,124.25. Following the completion of the sale, the insider now directly owns 2,734,615 shares of the company’s stock, valued at approximately $113,349,791.75. The disclosure for this sale can be found here. In the last ninety days, insiders sold 620,641 shares of company stock valued at $25,547,761. 29.00% of the stock is owned by company insiders.

A number of equities research analysts have issued reports on the stock. Zacks Investment Research raised shares of Mimecast from a “sell” rating to a “hold” rating in a research note on Wednesday. BidaskClub lowered shares of Mimecast from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. Monness Crespi & Hardt raised shares of Mimecast from a “neutral” rating to a “buy” rating and set a $48.00 target price for the company in a research note on Thursday. Goldman Sachs Group raised shares of Mimecast from a “neutral” rating to a “buy” rating in a research note on Wednesday, June 20th. Finally, BMO Capital Markets decreased their target price on shares of Mimecast from $48.00 to $47.00 and set an “outperform” rating for the company in a research note on Friday, August 10th. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.33.

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.

Further Reading: Earnings Per Share (EPS) Explained

Want to see what other hedge funds are holding MIME? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Mimecast Ltd (NASDAQ:MIME).

Institutional Ownership by Quarter for Mimecast (NASDAQ:MIME)

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