Wedbush began coverage on shares of Mimecast (NASDAQ:MIME) in a research note issued to investors on Thursday morning, MarketBeat reports. The firm issued a neutral rating and a $40.00 price objective on the technology company’s stock.
Other research analysts have also issued research reports about the company. BMO Capital Markets dropped their target price on Mimecast from $48.00 to $47.00 and set an outperform rating for the company in a research report on Friday, August 10th. Robert W. Baird assumed coverage on Mimecast in a research report on Wednesday, October 17th. They set an outperform rating and a $45.00 target price for the company. BidaskClub upgraded Mimecast from a buy rating to a strong-buy rating in a research report on Saturday, December 1st. ValuEngine lowered Mimecast from a buy rating to a hold rating in a research report on Wednesday. Finally, Summit Insights lowered Mimecast from a buy rating to a hold rating in a research report on Monday, October 29th. Four research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of Buy and an average target price of $44.77.
Shares of NASDAQ:MIME traded down $1.41 during trading hours on Thursday, hitting $35.27. 4,354 shares of the company’s stock traded hands, compared to its average volume of 427,570. Mimecast has a 1 year low of $26.50 and a 1 year high of $46.87. The firm has a market capitalization of $2.16 billion, a PE ratio of -184.47 and a beta of 0.83. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.28 and a quick ratio of 1.28.
In related news, Director Christopher Fitzgerald sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $35.83, for a total value of $71,660.00. Following the completion of the transaction, the director now owns 25,821 shares of the company’s stock, valued at $925,166.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Peter Bauer sold 11,250 shares of the business’s stock in a transaction that occurred on Monday, September 24th. The stock was sold at an average price of $41.75, for a total transaction of $469,687.50. Following the completion of the transaction, the chief executive officer now directly owns 112,500 shares of the company’s stock, valued at approximately $4,696,875. The disclosure for this sale can be found here. Insiders sold 162,934 shares of company stock valued at $6,039,989 in the last quarter. 29.00% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Marshall Wace LLP bought a new position in Mimecast in the third quarter worth approximately $14,404,000. Vanguard Group Inc. bought a new position in Mimecast in the third quarter worth approximately $368,000. Legal & General Group Plc raised its stake in Mimecast by 33.3% in the third quarter. Legal & General Group Plc now owns 296,467 shares of the technology company’s stock worth $12,416,000 after buying an additional 74,051 shares in the last quarter. Penn Capital Management Co. Inc. raised its stake in Mimecast by 5.9% in the third quarter. Penn Capital Management Co. Inc. now owns 222,533 shares of the technology company’s stock worth $10,270,000 after buying an additional 12,304 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its stake in Mimecast by 31.0% in the third quarter. Advisors Asset Management Inc. now owns 7,554 shares of the technology company’s stock worth $316,000 after buying an additional 1,787 shares in the last quarter. 70.61% of the stock is owned by institutional investors.
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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