Mimecast (MIME) Trading Down 5.3%

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Mimecast Ltd (NASDAQ:MIME) shares dropped 5.3% during trading on Friday . The company traded as low as $44.71 and last traded at $45.26. Approximately 836,155 shares were traded during trading, an increase of 36% from the average daily volume of 615,944 shares. The stock had previously closed at $47.81.

Several research firms recently issued reports on MIME. Summit Insights raised shares of Mimecast from a “hold” rating to a “buy” rating in a research report on Tuesday, February 12th. Wedbush increased their price target on shares of Mimecast from $40.00 to $47.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 12th. Zacks Investment Research lowered shares of Mimecast from a “buy” rating to a “hold” rating in a research report on Wednesday, January 9th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target (up previously from $49.00) on shares of Mimecast in a research report on Tuesday, February 12th. Finally, BidaskClub raised shares of Mimecast from a “hold” rating to a “buy” rating in a research report on Thursday, January 31st. Three research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $50.93.

The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market capitalization of $2.81 billion, a PE ratio of -238.21 and a beta of 1.12.

Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Monday, February 11th. The technology company reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.04). The firm had revenue of $87.61 million for the quarter, compared to analyst estimates of $84.80 million. Mimecast had a negative return on equity of 6.51% and a negative net margin of 4.14%. As a group, equities research analysts anticipate that Mimecast Ltd will post -0.04 earnings per share for the current fiscal year.

In other news, Director Christopher Fitzgerald sold 2,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $47.42, for a total transaction of $94,840.00. Following the completion of the sale, the director now owns 23,821 shares of the company’s stock, valued at $1,129,591.82. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Edward Vincent Jennings sold 130,000 shares of the firm’s stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $48.28, for a total transaction of $6,276,400.00. Following the sale, the chief operating officer now directly owns 130,000 shares of the company’s stock, valued at approximately $6,276,400. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 500,781 shares of company stock valued at $21,760,727. Company insiders own 29.00% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of MIME. Oppenheimer Asset Management Inc. bought a new stake in shares of Mimecast during the fourth quarter valued at approximately $72,000. DekaBank Deutsche Girozentrale grew its stake in shares of Mimecast by 131.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock valued at $110,000 after purchasing an additional 1,511 shares during the last quarter. First Republic Investment Management Inc. bought a new stake in shares of Mimecast during the third quarter valued at approximately $203,000. PEAK6 Investments LLC bought a new stake in shares of Mimecast during the third quarter valued at approximately $210,000. Finally, Amundi Pioneer Asset Management Inc. bought a new stake in shares of Mimecast during the fourth quarter valued at approximately $192,000. 70.89% of the stock is owned by institutional investors.

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Mimecast Company Profile (NASDAQ:MIME)

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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