Assenagon Asset Management S.A. lifted its stake in shares of Mimecast Ltd (NASDAQ:MIME) by 87.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,812 shares of the technology company’s stock after purchasing an additional 18,622 shares during the quarter. Assenagon Asset Management S.A. owned about 0.06% of Mimecast worth $1,420,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. Whale Rock Capital Management LLC boosted its position in shares of Mimecast by 90.8% during the 2nd quarter. Whale Rock Capital Management LLC now owns 3,797,844 shares of the technology company’s stock worth $177,397,000 after purchasing an additional 1,807,096 shares in the last quarter. Waddell & Reed Financial Inc. lifted its position in Mimecast by 3.3% in the 2nd quarter. Waddell & Reed Financial Inc. now owns 2,091,838 shares of the technology company’s stock valued at $97,710,000 after acquiring an additional 66,585 shares in the last quarter. Holocene Advisors LP lifted its position in Mimecast by 52.8% in the 2nd quarter. Holocene Advisors LP now owns 1,567,953 shares of the technology company’s stock valued at $73,239,000 after acquiring an additional 541,714 shares in the last quarter. Wells Fargo & Company MN lifted its position in Mimecast by 10.9% in the 2nd quarter. Wells Fargo & Company MN now owns 1,535,998 shares of the technology company’s stock valued at $71,747,000 after acquiring an additional 151,521 shares in the last quarter. Finally, FMR LLC lifted its position in Mimecast by 17.1% in the 1st quarter. FMR LLC now owns 1,320,416 shares of the technology company’s stock valued at $62,522,000 after acquiring an additional 193,185 shares in the last quarter. 71.53% of the stock is currently owned by institutional investors.
NASDAQ:MIME opened at $38.40 on Monday. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.20 and a current ratio of 1.20. The firm has a market cap of $2.40 billion, a price-to-earnings ratio of -548.57, a price-to-earnings-growth ratio of 61.87 and a beta of 1.17. Mimecast Ltd has a 52 week low of $29.67 and a 52 week high of $54.57. The firm has a 50-day moving average price of $38.80 and a two-hundred day moving average price of $44.91.
Several brokerages recently weighed in on MIME. Robert W. Baird set a $58.00 price target on shares of Mimecast and gave the company a “buy” rating in a research report on Sunday, September 15th. Rosenblatt Securities began coverage on shares of Mimecast in a research report on Wednesday, August 21st. They issued a “buy” rating and a $57.00 price target on the stock. Wedbush dropped their price target on shares of Mimecast from $50.00 to $46.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 6th. ValuEngine raised shares of Mimecast from a “sell” rating to a “hold” rating in a research report on Saturday. Finally, BidaskClub raised shares of Mimecast from a “sell” rating to a “hold” rating in a research report on Thursday, October 3rd. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $55.67.
In other Mimecast news, Director Neil Murray sold 150,000 shares of the stock in a transaction dated Friday, August 23rd. The shares were sold at an average price of $42.85, for a total value of $6,427,500.00. Following the completion of the sale, the director now owns 1,844,865 shares in the company, valued at approximately $79,052,465.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Peter Bauer sold 7,500 shares of the stock in a transaction dated Thursday, October 3rd. The shares were sold at an average price of $38.01, for a total transaction of $285,075.00. Following the completion of the sale, the chief executive officer now owns 200,000 shares of the company’s stock, valued at approximately $7,602,000. The disclosure for this sale can be found here. In the last quarter, insiders sold 359,572 shares of company stock valued at $15,157,274. Company insiders own 11.60% of the company’s stock.
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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