Mimecast Ltd (MIME) Position Boosted by Legal & General Group Plc

Legal & General Group Plc grew its holdings in Mimecast Ltd (NASDAQ:MIME) by 9.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 owned about 0.38% of Mimecast worth $9,166,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of MIME. Sei Investments Co. increased its position in Mimecast by 72.3% during the first quarter. Sei Investments Co. now owns 3,473 shares of the technology company’s stock worth $123,000 after buying an additional 1,457 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Mimecast during the second quarter worth $215,000. Macnealy Hoover Investment Management Inc. purchased a new stake in shares of Mimecast in the second quarter valued at $247,000. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Mimecast in the first quarter valued at $238,000. Finally, Koch Industries Inc. purchased a new stake in shares of Mimecast in the first quarter valued at $290,000. 68.04% of the stock is owned by institutional investors and hedge funds.

NASDAQ:MIME opened at $34.50 on Tuesday. 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 one year low of $26.50 and a one year high of $46.87. The stock has a market capitalization of $2.50 billion, a P/E ratio of -181.58 and a beta of 0.21.

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

A number of equities research analysts have recently commented on MIME shares. Zacks Investment Research raised Mimecast from a “sell” rating to a “hold” rating in a research report on Friday, September 28th. BidaskClub raised Mimecast from a “hold” rating to a “buy” rating in a research report on Thursday, September 27th. Deutsche Bank lifted their price objective on Mimecast to $50.00 and gave the company a “buy” rating in a research report on Friday, August 10th. JPMorgan Chase & Co. lifted their target price on Mimecast from $44.00 to $46.00 and gave the company a “neutral” rating in a report on Friday, August 10th. Finally, Monness Crespi & Hardt upgraded Mimecast from a “neutral” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Thursday, September 13th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $45.08.

In related news, CFO Peter Andrew James Campbell sold 30,000 shares of the business’s stock in a transaction dated Monday, July 16th. The stock was sold at an average price of $42.09, for a total value of $1,262,700.00. Following the completion of the sale, the chief financial officer now directly owns 250,000 shares of the company’s stock, valued at $10,522,500. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Neil Murray sold 25,000 shares of the business’s stock in a transaction dated Monday, September 24th. The shares were sold at an average price of $41.66, for a total value of $1,041,500.00. Following the completion of the sale, the insider now directly owns 2,456,665 shares of the company’s stock, valued at $102,344,663.90. The disclosure for this sale can be found here. In the last quarter, insiders sold 305,726 shares of company stock worth $12,339,835. Insiders own 29.00% of the company’s stock.

Mimecast 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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