Columbus Circle Investors increased its stake in Mimecast Limited (NASDAQ:MIME) by 88.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 728,762 shares of the technology company’s stock after buying an additional 342,405 shares during the period. Columbus Circle Investors owned 1.29% of Mimecast Limited worth $19,516,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board bought a new position in Mimecast Limited during the first quarter valued at approximately $3,314,000. Pier Capital LLC raised 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 valued at $6,119,000 after buying an additional 40,713 shares in the last quarter. Cortina Asset Management LLC raised its position in Mimecast Limited by 22.4% in the first quarter. Cortina Asset Management LLC now owns 499,170 shares of the technology company’s stock valued at $11,176,000 after buying an additional 91,374 shares in the last quarter. Driehaus Capital Management LLC raised its position in Mimecast Limited by 53.1% in the first quarter. Driehaus Capital Management LLC now owns 587,266 shares of the technology company’s stock valued at $13,149,000 after buying an additional 203,807 shares in the last quarter. Finally, Penserra Capital Management LLC raised 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 valued at $17,343,000 after buying an additional 145,188 shares in the last quarter. Institutional investors own 47.67% of the company’s stock.

Mimecast Limited (NASDAQ MIME) opened at 26.69 on Tuesday. Mimecast Limited has a 12 month low of $14.53 and a 12 month high of $30.10. The firm’s 50 day moving average price is $27.58 and its 200 day moving average price is $24.41. The stock’s market cap is $1.52 billion.

Mimecast Limited (NASDAQ:MIME) last released its quarterly earnings data on Monday, August 7th. The technology company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $58.16 million for the quarter, compared to the consensus estimate 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 was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.04 earnings per share. On average, equities research analysts predict that Mimecast Limited will post $0.06 EPS for the current fiscal year.

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Several research analysts recently commented on MIME shares. Zacks Investment Research lowered Mimecast Limited from a “hold” rating to a “strong sell” rating in a research report on Saturday, May 13th. Royal Bank Of Canada reiterated a “buy” rating and issued a $30.00 price target on shares of Mimecast Limited in a research report on Monday, July 31st. BidaskClub upgraded Mimecast Limited from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 12th. Benchmark Co. lifted their price target on Mimecast Limited from $30.00 to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 10th. Finally, 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 report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the company. The company currently 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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