D. E. Shaw & Co. Inc. Sells 32,433 Shares of Mimecast Ltd (NASDAQ:MIME)

D. E. Shaw & Co. Inc. cut its holdings in Mimecast Ltd (NASDAQ:MIME) by 34.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,987 shares of the technology company’s stock after selling 32,433 shares during the quarter. D. E. Shaw & Co. Inc. owned about 0.10% of Mimecast worth $2,118,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Weiss Multi Strategy Advisers LLC lifted its holdings in shares of Mimecast by 60.0% during the fourth quarter. Weiss Multi Strategy Advisers LLC now owns 20,000 shares of the technology company’s stock worth $673,000 after buying an additional 7,500 shares in the last quarter. HarbourVest Partners LLC bought a new position in Mimecast in the fourth quarter valued at about $789,000. Polar Capital LLP grew its position in Mimecast by 52.1% in the fourth quarter. Polar Capital LLP now owns 946,401 shares of the technology company’s stock valued at $31,827,000 after acquiring an additional 324,017 shares during the last quarter. Portolan Capital Management LLC bought a new position in Mimecast in the fourth quarter valued at about $16,649,000. Finally, Brown Advisory Inc. grew its holdings in shares of Mimecast by 17.3% during the fourth quarter. Brown Advisory Inc. now owns 2,792,107 shares of the technology company’s stock worth $93,896,000 after purchasing an additional 411,403 shares during the last quarter. Hedge funds and other institutional investors own 71.27% of the company’s stock.

In other Mimecast news, CEO Peter Bauer sold 6,788 shares of the stock in a transaction that occurred on Tuesday, January 29th. The stock was sold at an average price of $35.01, for a total value of $237,647.88. Following the completion of the sale, the chief executive officer now owns 67,500 shares in the company, valued at approximately $2,363,175. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Peter Andrew James Campbell sold 92,706 shares of the stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $39.33, for a total value of $3,646,126.98. Following the completion of the sale, the chief financial officer now owns 215,000 shares of the company’s stock, valued at approximately $8,455,950. The disclosure for this sale can be found here. Insiders have sold a total of 513,244 shares of company stock worth $23,657,180 over the last quarter. Corporate insiders own 29.00% of the company’s stock.

MIME traded down $0.26 during trading on Friday, reaching $50.93. 454,465 shares of the company were exchanged, compared to its average volume of 611,919. Mimecast Ltd has a 12-month low of $29.67 and a 12-month high of $51.66. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of -268.05, a price-to-earnings-growth ratio of 15.47 and a beta of 1.10. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.29 and a current ratio of 1.29.

Mimecast (NASDAQ:MIME) last released its quarterly earnings results on Monday, February 11th. The technology company reported $0.02 earnings per share for the quarter, missing the consensus estimate of $0.06 by ($0.04). The business had revenue of $87.61 million during the quarter, compared to analysts’ expectations of $84.80 million. Mimecast had a negative net margin of 4.14% and a negative return on equity of 6.51%. On average, research analysts forecast that Mimecast Ltd will post -0.03 earnings per share for the current fiscal year.

MIME has been the topic of several research reports. Summit Insights upgraded Mimecast from a “hold” rating to a “buy” rating in a report on Tuesday, February 12th. Wedbush lifted their price objective on Mimecast from $40.00 to $47.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 12th. Zacks Investment Research lowered Mimecast from a “buy” rating to a “hold” rating in a research note on Wednesday, January 9th. Needham & Company LLC reissued a “buy” rating and issued a $52.00 price target (up from $49.00) on shares of Mimecast in a research note on Tuesday, February 12th. Finally, BidaskClub raised Mimecast from a “hold” rating to a “buy” rating in a research note on Thursday, January 31st. Three research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $51.53.

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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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