M&T Bank Corp lifted its position in Mimecast Ltd (NASDAQ:MIME) by 38.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,188 shares of the technology company’s stock after buying an additional 2,548 shares during the quarter. M&T Bank Corp’s holdings in Mimecast were worth $398,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of MIME. US Bancorp DE raised its stake in shares of Mimecast by 3.0% in the fourth quarter. US Bancorp DE now owns 22,424 shares of the technology company’s stock valued at $973,000 after acquiring an additional 644 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Mimecast by 1.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 51,294 shares of the technology company’s stock worth $2,226,000 after purchasing an additional 806 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Mimecast by 9.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,804 shares of the technology company’s stock worth $425,000 after purchasing an additional 884 shares in the last quarter. Marshall Wace LLP purchased a new position in Mimecast in the first quarter valued at $49,000. Finally, Michael & Susan Dell Foundation increased its holdings in Mimecast by 11.3% in the third quarter. Michael & Susan Dell Foundation now owns 10,860 shares of the technology company’s stock valued at $387,000 after buying an additional 1,106 shares during the last quarter. Hedge funds and other institutional investors own 75.08% of the company’s stock.
MIME has been the subject of a number of recent analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $65.00 price target on shares of Mimecast in a report on Tuesday, February 11th. Jefferies Financial Group increased their price target on shares of Mimecast from $57.00 to $60.00 and gave the company a “buy” rating in a research note on Tuesday, February 11th. ValuEngine upgraded shares of Mimecast from a “hold” rating to a “buy” rating in a report on Tuesday. Robert W. Baird reaffirmed a “buy” rating and issued a $60.00 target price on shares of Mimecast in a research report on Tuesday. Finally, Zacks Investment Research lowered shares of Mimecast from a “buy” rating to a “hold” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $59.20.
Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, February 10th. The technology company reported $0.14 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $110.16 million for the quarter, compared to analysts’ expectations of $108.12 million. Mimecast had a negative net margin of 1.64% and a negative return on equity of 0.64%. The company’s quarterly revenue was up 25.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.09 EPS. As a group, equities analysts predict that Mimecast Ltd will post 0.05 earnings per share for the current year.
In other Mimecast news, CEO Peter Bauer sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $44.52, for a total transaction of $667,800.00. Following the completion of the sale, the chief executive officer now directly owns 140,000 shares of the company’s stock, valued at approximately $6,232,800. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Neil Murray sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $43.09, for a total value of $1,508,150.00. Following the sale, the director now directly owns 1,661,665 shares of the company’s stock, valued at $71,601,144.85. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,000 shares of company stock valued at $5,640,250. 11.60% of the stock is owned by company insiders.
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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