Millennium Management LLC Has $20.55 Million Stock Position in Mimecast Ltd (NASDAQ:MIME)

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Millennium Management LLC grew its stake in Mimecast Ltd (NASDAQ:MIME) by 2,270.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 576,156 shares of the technology company’s stock after purchasing an additional 551,849 shares during the period. Millennium Management LLC owned approximately 0.93% of Mimecast worth $20,551,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in MIME. Steward Partners Investment Advisory LLC bought a new position in shares of Mimecast during the 2nd quarter worth approximately $32,000. Marshall Wace LLP bought a new position in shares of Mimecast during the first quarter valued at $49,000. Advisor Group Inc. lifted its holdings in shares of Mimecast by 39.1% during the second quarter. Advisor Group Inc. now owns 1,349 shares of the technology company’s stock valued at $64,000 after acquiring an additional 379 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Mimecast in the 2nd quarter valued at $102,000. Finally, Coastal Capital Group Inc. acquired a new stake in shares of Mimecast in the 2nd quarter valued at $105,000. Institutional investors own 72.02% of the company’s stock.

Shares of NASDAQ MIME opened at $43.43 on Tuesday. The firm’s 50-day simple moving average is $41.36 and its 200 day simple moving average is $43.20. The company has a market cap of $2.75 billion, a price-to-earnings ratio of -620.43, a price-to-earnings-growth ratio of 35.28 and a beta of 1.21. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.45. Mimecast Ltd has a 12-month low of $29.67 and a 12-month high of $54.57.

Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Thursday, November 7th. The technology company reported $0.13 earnings per share for the quarter, beating the consensus estimate of $0.02 by $0.11. The firm had revenue of $103.36 million during the quarter, compared to analysts’ expectations of $101.63 million. Mimecast had a negative net margin of 1.67% and a negative return on equity of 0.82%. The company’s quarterly revenue was up 25.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.06 EPS. On average, equities analysts expect that Mimecast Ltd will post 0.06 earnings per share for the current year.

In other news, Director Neil Murray sold 35,000 shares of Mimecast stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $38.32, for a total value of $1,341,200.00. Following the completion of the sale, the director now directly owns 1,766,665 shares of the company’s stock, valued at approximately $67,698,602.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Bauer sold 7,500 shares of the business’s stock in a transaction on Thursday, October 3rd. The stock was sold at an average price of $38.01, for a total value of $285,075.00. Following 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. Insiders have sold 150,190 shares of company stock worth $6,027,371 over the last quarter. 11.60% of the stock is owned by company insiders.

MIME has been the topic of several analyst reports. ValuEngine raised shares of Mimecast from a “sell” rating to a “hold” rating in a report on Wednesday, November 13th. BidaskClub raised shares of Mimecast from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Needham & Company LLC restated a “buy” rating and issued a $65.00 price target on shares of Mimecast in a research report on Friday, November 8th. Wedbush decreased their price objective on shares of Mimecast from $50.00 to $46.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 6th. Finally, Dougherty & Co cut shares of Mimecast from a “buy” rating to a “neutral” rating in a research note on Friday, November 8th. Five equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Mimecast has a consensus rating of “Buy” and an average price target of $55.53.

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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Institutional Ownership by Quarter for Mimecast (NASDAQ:MIME)

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