Mobileiron Inc (NASDAQ:MOBL) Short Interest Update

Mobileiron Inc (NASDAQ:MOBL) was the recipient of a significant increase in short interest in March. As of March 15th, there was short interest totalling 1,506,801 shares, an increase of 70.9% from the February 28th total of 881,483 shares. Approximately 2.0% of the company’s stock are sold short. Based on an average daily volume of 1,012,592 shares, the short-interest ratio is presently 1.5 days.

MOBL has been the subject of a number of analyst reports. Northland Securities reiterated a “buy” rating and set a $6.50 price objective on shares of Mobileiron in a report on Thursday, April 11th. Zacks Investment Research upgraded shares of Mobileiron from a “hold” rating to a “buy” rating and set a $5.50 price target on the stock in a report on Thursday, January 24th. Finally, BidaskClub upgraded shares of Mobileiron from a “sell” rating to a “hold” rating in a report on Friday, February 8th.

MOBL traded up $0.02 during midday trading on Friday, reaching $5.63. The company had a trading volume of 289,066 shares, compared to its average volume of 581,900. The stock has a market cap of $601.24 million, a price-to-earnings ratio of -13.40 and a beta of 1.76. Mobileiron has a 12-month low of $3.98 and a 12-month high of $5.86.

Mobileiron (NASDAQ:MOBL) last released its earnings results on Thursday, February 7th. The software maker reported $0.03 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.03. The firm had revenue of $54.10 million for the quarter, compared to analysts’ expectations of $54.40 million. Mobileiron had a negative net margin of 22.30% and a negative return on equity of 76.61%. Mobileiron’s revenue was up 10.9% on a year-over-year basis. On average, sell-side analysts expect that Mobileiron will post -0.35 EPS for the current year.

In related news, Director Leslie Stretch purchased 11,950 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was purchased at an average cost of $5.01 per share, with a total value of $59,869.50. Following the completion of the purchase, the director now owns 22,228 shares in the company, valued at approximately $111,362.28. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 24.29% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MOBL. Stone Ridge Asset Management LLC raised its position in shares of Mobileiron by 59.3% in the fourth quarter. Stone Ridge Asset Management LLC now owns 24,326 shares of the software maker’s stock valued at $112,000 after purchasing an additional 9,055 shares during the period. AQR Capital Management LLC raised its position in shares of Mobileiron by 18.6% in the third quarter. AQR Capital Management LLC now owns 306,192 shares of the software maker’s stock valued at $1,623,000 after purchasing an additional 47,930 shares during the period. BlackRock Inc. raised its position in shares of Mobileiron by 9.4% in the third quarter. BlackRock Inc. now owns 5,103,339 shares of the software maker’s stock valued at $27,047,000 after purchasing an additional 437,923 shares during the period. Morgan Stanley raised its position in shares of Mobileiron by 21.1% in the third quarter. Morgan Stanley now owns 747,744 shares of the software maker’s stock valued at $3,963,000 after purchasing an additional 130,184 shares during the period. Finally, Legal & General Group Plc raised its position in shares of Mobileiron by 38.4% in the third quarter. Legal & General Group Plc now owns 2,218,021 shares of the software maker’s stock valued at $11,756,000 after purchasing an additional 615,148 shares during the period. Hedge funds and other institutional investors own 59.91% of the company’s stock.

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Mobileiron Company Profile

MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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