Insider Selling: Mimecast Limited (NASDAQ:MIME) Insider Sells 4,314 Shares of Stock

Mimecast Limited (NASDAQ:MIME) insider Karen M. Anderson sold 4,314 shares of the business’s stock in a transaction on Wednesday, June 9th. The shares were sold at an average price of $51.99, for a total transaction of $224,284.86. Following the sale, the insider now directly owns 8,679 shares of the company’s stock, valued at $451,221.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Shares of MIME traded up $0.47 during mid-day trading on Thursday, hitting $51.75. 423,535 shares of the company traded hands, compared to its average volume of 775,099. Mimecast Limited has a 1-year low of $37.03 and a 1-year high of $59.48. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.28 and a quick ratio of 1.28. The company has a market capitalization of $3.37 billion, a P/E ratio of 115.82, a PEG ratio of 2.41 and a beta of 1.29. The firm’s 50 day simple moving average is $45.05.

Mimecast (NASDAQ:MIME) last posted its quarterly earnings data on Tuesday, May 11th. The technology company reported $0.28 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Mimecast had a net margin of 5.93% and a return on equity of 10.01%. The firm had revenue of $133.90 million for the quarter, compared to the consensus estimate of $131.19 million. During the same quarter in the prior year, the company posted $0.15 earnings per share. The company’s revenue for the quarter was up 17.3% compared to the same quarter last year. On average, sell-side analysts predict that Mimecast Limited will post 0.6 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of MIME. Institutional & Family Asset Management LLC acquired a new position in shares of Mimecast during the first quarter valued at about $31,000. Winslow Evans & Crocker Inc. acquired a new position in shares of Mimecast during the fourth quarter valued at about $34,000. Marshall Wace LLP acquired a new position in shares of Mimecast during the first quarter valued at about $49,000. Eaton Vance Management acquired a new position in Mimecast in the 1st quarter worth approximately $74,000. Finally, Lazard Asset Management LLC acquired a new position in Mimecast in the 4th quarter worth approximately $90,000. Hedge funds and other institutional investors own 80.88% of the company’s stock.

A number of research firms recently weighed in on MIME. Stephens upped their price objective on shares of Mimecast from $57.00 to $61.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 12th. Northland Securities upped their price objective on shares of Mimecast from $55.00 to $60.00 and gave the stock an “outperform” rating in a research note on Wednesday, May 12th. TheStreet lowered shares of Mimecast from a “b-” rating to a “c” rating in a research note on Tuesday, March 9th. Monness Crespi & Hardt upped their price objective on shares of Mimecast from $56.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, May 12th. Finally, Zacks Investment Research raised shares of Mimecast from a “sell” rating to a “hold” rating in a research note on Tuesday, May 25th. One analyst has rated the stock with a sell rating, four have issued a hold rating and eleven have issued a buy rating to the company. Mimecast currently has an average rating of “Buy” and a consensus price target of $54.67.

About Mimecast

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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

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