Mimecast Limited (NASDAQ:MIME) CEO Sells $947,975.00 in Stock

Mimecast Limited (NASDAQ:MIME) CEO Peter Bauer sold 17,500 shares of the business’s stock in a transaction dated Thursday, July 15th. The stock was sold at an average price of $54.17, for a total value of $947,975.00. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Peter Bauer also recently made the following trade(s):

  • On Wednesday, July 7th, Peter Bauer sold 7,500 shares of Mimecast stock. The stock was sold at an average price of $54.57, for a total value of $409,275.00.
  • On Tuesday, June 15th, Peter Bauer sold 17,500 shares of Mimecast stock. The stock was sold at an average price of $52.25, for a total value of $914,375.00.
  • On Monday, June 7th, Peter Bauer sold 7,500 shares of Mimecast stock. The stock was sold at an average price of $50.84, for a total value of $381,300.00.
  • On Monday, May 17th, Peter Bauer sold 17,500 shares of Mimecast stock. The stock was sold at an average price of $46.34, for a total value of $810,950.00.
  • On Friday, May 7th, Peter Bauer sold 7,500 shares of Mimecast stock. The shares were sold at an average price of $43.25, for a total value of $324,375.00.
  • On Monday, April 26th, Peter Bauer sold 17,500 shares of Mimecast stock. The shares were sold at an average price of $44.53, for a total value of $779,275.00.

Shares of MIME stock opened at $56.04 on Thursday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 0.26. The firm has a market cap of $3.65 billion, a P/E ratio of 124.53, a price-to-earnings-growth ratio of 2.43 and a beta of 1.30. The stock’s 50 day simple moving average is $51.99. Mimecast Limited has a 1-year low of $37.03 and a 1-year high of $59.48.

Mimecast (NASDAQ:MIME) last announced its earnings results on Tuesday, May 11th. The technology company reported $0.28 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. The business had revenue of $133.90 million during the quarter, compared to the consensus estimate of $131.19 million. Mimecast had a return on equity of 10.01% and a net margin of 5.93%. The business’s quarterly revenue was up 17.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.15 EPS. On average, research analysts forecast that Mimecast Limited will post 0.64 EPS for the current year.

A number of brokerages recently commented on MIME. Northland Securities upped their target price on Mimecast from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 12th. Stephens upped their target price on Mimecast from $57.00 to $61.00 and gave the company an “overweight” rating in a research report on Wednesday, May 12th. Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Wednesday, July 14th. Needham & Company LLC upped their target price on Mimecast from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. Finally, Barclays upped their target price on Mimecast from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Thursday, July 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twelve have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $56.73.

A number of hedge funds and other institutional investors have recently bought and sold shares of MIME. Marshall Wace LLP acquired a new position in Mimecast in the 1st quarter valued at $49,000. Rhumbline Advisers grew its holdings in Mimecast by 4.4% in the 4th quarter. Rhumbline Advisers now owns 67,156 shares of the technology company’s stock valued at $3,817,000 after buying an additional 2,830 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in Mimecast in the 4th quarter valued at $309,000. Lazard Asset Management LLC purchased a new stake in Mimecast in the 4th quarter valued at $90,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Mimecast in the 4th quarter valued at $3,524,000. 79.88% of the stock is owned by hedge funds and other institutional investors.

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.

Read More: Why do corrections happen?

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

Receive News & Ratings for Mimecast Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Mimecast and related companies with MarketBeat.com's FREE daily email newsletter.