American Century Companies Inc. cut its holdings in Mimecast Ltd (NASDAQ:MIME) by 38.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 149,788 shares of the technology company’s stock after selling 93,875 shares during the period. American Century Companies Inc. owned 0.25% of Mimecast worth $6,173,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Sei Investments Co. lifted its holdings in Mimecast by 72.3% in the 1st quarter. Sei Investments Co. now owns 3,473 shares of the technology company’s stock worth $123,000 after purchasing an additional 1,457 shares in the last quarter. Raymond James Financial Services Advisors Inc. purchased a new position in Mimecast in the 2nd quarter worth approximately $215,000. Dynamic Technology Lab Private Ltd purchased a new position in Mimecast in the 1st quarter worth approximately $238,000. Macnealy Hoover Investment Management Inc. purchased a new position in Mimecast in the 2nd quarter worth approximately $247,000. Finally, Koch Industries Inc. purchased a new stake in shares of Mimecast during the 1st quarter worth approximately $290,000. 68.05% of the stock is currently owned by institutional investors.
In other news, CFO Peter Andrew James Campbell sold 37,333 shares of the stock in a transaction on Monday, June 18th. The stock was sold at an average price of $42.82, for a total transaction of $1,598,599.06. Following the transaction, the chief financial officer now owns 255,849 shares of the company’s stock, valued at approximately $10,955,454.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Peter Bauer sold 103,750 shares of the stock in a transaction on Thursday, August 23rd. The stock was sold at an average price of $39.48, for a total value of $4,096,050.00. Following the transaction, the chief executive officer now directly owns 216,250 shares in the company, valued at approximately $8,537,550. The disclosure for this sale can be found here. Insiders have sold a total of 614,641 shares of company stock worth $25,301,881 in the last three months. Corporate insiders own 29.00% of the company’s stock.
Shares of Mimecast stock opened at $40.50 on Thursday. The firm has a market capitalization of $2.48 billion, a price-to-earnings ratio of -213.16 and a beta of 0.18. 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 52 week low of $25.12 and a 52 week high of $46.87.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Thursday, August 9th. The technology company reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The company had revenue of $78.40 million for the quarter, compared to the consensus estimate of $76.71 million. Mimecast had a negative return on equity of 11.41% and a negative net margin of 5.55%. Mimecast’s quarterly revenue was up 34.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.01 EPS. equities analysts expect that Mimecast Ltd will post -0.13 EPS for the current fiscal year.
Several brokerages have recently issued reports on MIME. Zacks Investment Research raised Mimecast from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, July 11th. Stephens boosted their target price on Mimecast from $42.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, May 15th. Barclays upped their price objective on Mimecast from $40.00 to $47.00 and gave the company an “overweight” rating in a research report on Tuesday, May 15th. BMO Capital Markets cut their price objective on Mimecast from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Finally, Needham & Company LLC upped their price objective on Mimecast from $46.00 to $49.00 and gave the company a “buy” rating in a research report on Tuesday, May 15th. Three equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Mimecast has an average rating of “Buy” and an average price target of $44.00.
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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