Insider Selling: Mimecast Ltd (MIME) Insider Sells $869,250.00 in Stock

Mimecast Ltd (NASDAQ:MIME) insider Neil Murray sold 25,000 shares of the business’s stock in a transaction on Monday, October 22nd. The stock was sold at an average price of $34.77, for a total transaction of $869,250.00. Following the completion of the sale, the insider now directly owns 2,431,665 shares in the company, valued at approximately $84,548,992.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Neil Murray also recently made the following trade(s):

  • On Monday, September 24th, Neil Murray sold 25,000 shares of Mimecast stock. The stock was sold at an average price of $41.66, for a total transaction of $1,041,500.00.
  • On Wednesday, August 22nd, Neil Murray sold 25,000 shares of Mimecast stock. The stock was sold at an average price of $38.89, for a total transaction of $972,250.00.

NASDAQ MIME opened at $32.51 on Friday. 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 1 year low of $26.50 and a 1 year high of $46.87. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of -171.53 and a beta of 0.21.



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

Several large investors have recently added to or reduced their stakes in MIME. Sei Investments Co. increased its holdings in shares of Mimecast by 72.3% in the first quarter. Sei Investments Co. now owns 3,473 shares of the technology company’s stock valued at $123,000 after purchasing an additional 1,457 shares during the last quarter. Simplex Trading LLC acquired a new position in shares of Mimecast in the third quarter valued at $183,000. Raymond James Financial Services Advisors Inc. acquired a new position in shares of Mimecast in the second quarter valued at $215,000. Dynamic Technology Lab Private Ltd acquired a new position in shares of Mimecast in the first quarter valued at $238,000. Finally, Advisors Asset Management Inc. acquired a new position in shares of Mimecast in the second quarter valued at $238,000. Hedge funds and other institutional investors own 67.71% of the company’s stock.

Several research firms have issued reports on MIME. Zacks Investment Research raised shares of Mimecast from a “hold” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Wednesday, July 11th. BidaskClub lowered shares of Mimecast from a “buy” rating to a “hold” rating in a research report on Thursday, October 4th. BMO Capital Markets dropped their price target on shares of Mimecast from $48.00 to $47.00 and set an “outperform” rating on the stock in a research report on Friday, August 10th. Monness Crespi & Hardt raised shares of Mimecast from a “neutral” rating to a “buy” rating and set a $48.00 price target on the stock in a research report on Thursday, September 13th. Finally, JPMorgan Chase & Co. upped their price target on shares of Mimecast from $44.00 to $46.00 and gave the stock a “neutral” rating in a research report on Friday, August 10th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $45.07.

About Mimecast

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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Insider Buying and Selling by Quarter for Mimecast (NASDAQ:MIME)

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