Mimecast Ltd (NASDAQ:MIME) Director Sells $64,896.00 in Stock

Mimecast Ltd (NASDAQ:MIME) Director Hagi Schwartz sold 1,690 shares of Mimecast stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $38.40, for a total transaction of $64,896.00. Following the transaction, the director now directly owns 4,205 shares in the company, valued at $161,472. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Shares of NASDAQ MIME traded up $0.14 during mid-day trading on Wednesday, reaching $39.16. 681,630 shares of the company’s stock were exchanged, compared to its average volume of 550,651. The firm has a market capitalization of $2.44 billion, a price-to-earnings ratio of -559.43, a price-to-earnings-growth ratio of 62.01 and a beta of 1.17. Mimecast Ltd has a 52 week low of $29.67 and a 52 week high of $54.57. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.20 and a quick ratio of 1.20. The firm has a 50-day moving average price of $39.56 and a two-hundred day moving average price of $45.29.

Mimecast (NASDAQ:MIME) last released its earnings results on Monday, August 5th. The technology company reported $0.08 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.03) by $0.11. The company had revenue of $99.23 million for the quarter, compared to analysts’ expectations of $97.32 million. Mimecast had a negative return on equity of 2.63% and a negative net margin of 2.09%. The business’s revenue for the quarter was up 26.6% compared to the same quarter last year. During the same period in the previous year, the business posted $0.04 EPS. As a group, sell-side analysts forecast that Mimecast Ltd will post 0.03 EPS for the current fiscal year.



A number of research firms have issued reports on MIME. Wedbush cut their price objective on shares of Mimecast from $50.00 to $46.00 and set a “neutral” rating on the stock in a report on Tuesday, August 6th. Robert W. Baird set a $58.00 price objective on shares of Mimecast and gave the stock a “buy” rating in a report on Sunday, September 15th. ValuEngine downgraded shares of Mimecast from a “hold” rating to a “sell” rating in a report on Friday, October 4th. BidaskClub raised shares of Mimecast from a “sell” rating to a “hold” rating in a report on Thursday, October 3rd. Finally, Rosenblatt Securities began coverage on shares of Mimecast in a report on Wednesday, August 21st. They set a “buy” rating and a $57.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. Mimecast currently has an average rating of “Buy” and an average target price of $55.67.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in MIME. NumerixS Investment Technologies Inc raised its stake in shares of Mimecast by 19.5% during the 1st quarter. NumerixS Investment Technologies Inc now owns 2,390 shares of the technology company’s stock worth $114,000 after purchasing an additional 390 shares during the period. Marshall Wace LLP bought a new stake in shares of Mimecast during the 1st quarter worth $49,000. Marshall Wace North America L.P. raised its stake in shares of Mimecast by 86.3% during the 1st quarter. Marshall Wace North America L.P. now owns 11,282 shares of the technology company’s stock worth $534,000 after purchasing an additional 5,226 shares during the period. FMR LLC raised its stake in shares of Mimecast by 17.1% during the 1st quarter. FMR LLC now owns 1,320,416 shares of the technology company’s stock worth $62,522,000 after purchasing an additional 193,185 shares during the period. Finally, Cortina Asset Management LLC raised its stake in shares of Mimecast by 11.6% during the 2nd quarter. Cortina Asset Management LLC now owns 138,949 shares of the technology company’s stock worth $6,490,000 after purchasing an additional 14,409 shares during the period. Institutional investors own 71.53% of the company’s stock.

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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