Cortina Asset Management LLC Sells 2,768 Shares of Mimecast Ltd (MIME)
Cortina Asset Management LLC trimmed its position in Mimecast Ltd (NASDAQ:MIME) by 1.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,287 shares of the technology company’s stock after selling 2,768 shares during the period. Cortina Asset Management LLC owned 0.25% of Mimecast worth $6,193,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Brown Advisory Inc. boosted its holdings in Mimecast by 0.9% in the second quarter. Brown Advisory Inc. now owns 2,023,954 shares of the technology company’s stock worth $83,408,000 after acquiring an additional 17,156 shares in the last quarter. DE Burlo Group Inc. bought a new stake in Mimecast in the second quarter worth $3,366,000. Legal & General Group Plc boosted its holdings in Mimecast by 9.4% in the second quarter. Legal & General Group Plc now owns 222,416 shares of the technology company’s stock worth $9,166,000 after acquiring an additional 19,101 shares in the last quarter. GSA Capital Partners LLP bought a new stake in Mimecast in the second quarter worth $843,000. Finally, Spark Investment Management LLC boosted its holdings in Mimecast by 159.5% in the second quarter. Spark Investment Management LLC now owns 126,100 shares of the technology company’s stock worth $5,196,000 after acquiring an additional 77,500 shares in the last quarter. 68.06% of the stock is currently owned by institutional investors.
Several research firms have commented on MIME. Barclays reissued an “overweight” rating and issued a $47.00 target price (up from $40.00) on shares of Mimecast in a report on Thursday, May 31st. Goldman Sachs Group raised Mimecast from a “neutral” rating to a “buy” rating in a report on Wednesday, June 20th. Zacks Investment Research raised Mimecast from a “hold” rating to a “buy” rating and set a $48.00 target price on the stock in a report on Wednesday, July 11th. BidaskClub raised Mimecast from a “buy” rating to a “strong-buy” rating in a report on Wednesday, May 9th. Finally, Stephens boosted their target price on Mimecast from $42.00 to $50.00 and gave the stock an “overweight” rating in a report on Tuesday, May 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eleven have assigned a buy rating to the company’s stock. Mimecast has an average rating of “Buy” and a consensus target price of $44.00.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Thursday, August 9th. The technology company reported $0.04 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.04. The firm had revenue of $78.40 million for the quarter, compared to the consensus estimate of $76.71 million. Mimecast had a negative return on equity of 11.41% and a negative net margin of 5.55%. The company’s quarterly revenue was up 34.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. equities research analysts expect that Mimecast Ltd will post -0.13 earnings per share for the current fiscal year.
In other news, CEO Peter Bauer sold 22,500 shares of the company’s stock in a transaction on Friday, June 22nd. The stock was sold at an average price of $43.25, for a total transaction of $973,125.00. Following the transaction, the chief executive officer now directly owns 11,750 shares of the company’s stock, valued at $508,187.50. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Peter Andrew James Campbell sold 37,333 shares of the company’s stock in a transaction on Monday, June 18th. The shares were sold at an average price of $42.82, for a total value of $1,598,599.06. Following the transaction, the chief financial officer now directly owns 255,849 shares in the company, valued at $10,955,454.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 614,641 shares of company stock worth $25,301,881. Corporate insiders own 29.00% of the company’s stock.
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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