California Public Employees Retirement System cut its position in Mimecast Limited (NASDAQ:MIME) by 0.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,100 shares of the technology company’s stock after selling 200 shares during the period. California Public Employees Retirement System owned 0.05% of Mimecast Limited worth $629,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Cadence Capital Management LLC purchased a new position in Mimecast Limited during the first quarter worth approximately $679,000. Pier Capital LLC increased its position in Mimecast Limited by 17.5% in the first quarter. Pier Capital LLC now owns 273,309 shares of the technology company’s stock worth $6,119,000 after buying an additional 40,713 shares during the period. JPMorgan Chase & Co. increased its position in Mimecast Limited by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock worth $392,000 after buying an additional 2,385 shares during the period. Penserra Capital Management LLC increased its position in Mimecast Limited by 23.1% in the first quarter. Penserra Capital Management LLC now owns 774,621 shares of the technology company’s stock worth $17,343,000 after buying an additional 145,188 shares during the period. Finally, Airain ltd purchased a new position in Mimecast Limited during the first quarter worth approximately $372,000. Institutional investors and hedge funds own 47.67% of the company’s stock.

Shares of Mimecast Limited (NASDAQ:MIME) traded down 2.28% during trading on Friday, reaching $26.99. The company’s stock had a trading volume of 258,636 shares. The company’s 50-day moving average price is $27.59 and its 200 day moving average price is $24.33. Mimecast Limited has a 1-year low of $14.50 and a 1-year high of $30.10. The stock’s market capitalization is $1.53 billion.

Mimecast Limited (NASDAQ:MIME) last posted its earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.05. The business had revenue of $58.16 million for the quarter, compared to analysts’ expectations of $54.96 million. Mimecast Limited had a negative net margin of 3.73% and a negative return on equity of 9.67%. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.04 earnings per share. Analysts anticipate that Mimecast Limited will post $0.06 EPS for the current year.

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A number of research firms recently commented on MIME. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $32.00 price target (up from $27.00) on shares of Mimecast Limited in a research note on Tuesday, August 8th. Barclays PLC lifted their price target on Mimecast Limited from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 8th. Needham & Company LLC reiterated a “buy” rating and issued a $35.00 price target (up from $33.00) on shares of Mimecast Limited in a research note on Tuesday, August 8th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $36.00 price target (up from $32.00) on shares of Mimecast Limited in a research note on Wednesday, August 9th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $35.00 price target (up from $32.00) on shares of Mimecast Limited in a research note on Wednesday, August 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $30.46.

About Mimecast Limited

Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.

Institutional Ownership by Quarter for Mimecast Limited (NASDAQ:MIME)

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