Renaissance Technologies LLC Has $8.38 Million Stake in Mimecast Limited (NASDAQ:MIME)

Renaissance Technologies LLC reduced its position in shares of Mimecast Limited (NASDAQ:MIME) by 2.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 374,100 shares of the technology company’s stock after selling 7,800 shares during the period. Renaissance Technologies LLC owned about 0.68% of Mimecast Limited worth $8,376,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP increased its position in shares of Mimecast Limited by 3.1% in the first quarter. Wellington Management Group LLP now owns 1,626,028 shares of the technology company’s stock worth $36,407,000 after buying an additional 48,438 shares during the last quarter. Penserra Capital Management LLC increased its position in shares of 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 last quarter. Peregrine Capital Management LLC increased its position in shares of Mimecast Limited by 7.5% in the first quarter. Peregrine Capital Management LLC now owns 694,917 shares of the technology company’s stock worth $15,142,000 after buying an additional 48,248 shares during the last quarter. Kornitzer Capital Management Inc. KS increased its position in shares of Mimecast Limited by 5.4% in the first quarter. Kornitzer Capital Management Inc. KS now owns 576,381 shares of the technology company’s stock worth $12,905,000 after buying an additional 29,720 shares during the last quarter. Finally, Stephens Investment Management Group LLC increased its position in shares of Mimecast Limited by 1.7% in the first quarter. Stephens Investment Management Group LLC now owns 518,346 shares of the technology company’s stock worth $11,606,000 after buying an additional 8,801 shares during the last quarter. 47.67% of the stock is owned by institutional investors.

Shares of Mimecast Limited (NASDAQ:MIME) traded down 2.28% during mid-day trading on Friday, hitting $26.99. The company had a trading volume of 258,636 shares. Mimecast Limited has a 12 month low of $14.50 and a 12 month high of $30.10. The firm has a 50-day moving average price of $27.59 and a 200 day moving average price of $24.33. The firm’s market capitalization is $1.53 billion.

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

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Several research analysts have recently weighed in on MIME shares. Zacks Investment Research downgraded Mimecast Limited from a “hold” rating to a “strong sell” rating in a research note on Saturday, May 13th. Benchmark Co. upped their target price on Mimecast Limited from $30.00 to $35.00 and gave the stock a “buy” rating in a research note on Wednesday, May 10th. BidaskClub raised Mimecast Limited from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 12th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $33.00 target price (up from $30.00) on shares of Mimecast Limited in a research note on Tuesday, August 8th. Finally, Needham & Company LLC started coverage on Mimecast Limited in a research note on Tuesday, July 25th. They set a “buy” rating and a $33.00 target price for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target 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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