Mimecast Ltd (MIME) Director Sells $71,660.00 in Stock

Mimecast Ltd (NASDAQ:MIME) Director Christopher Fitzgerald sold 2,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 28th. The shares were sold at an average price of $35.83, for a total value of $71,660.00. Following the completion of the transaction, the director now directly owns 25,821 shares of the company’s stock, valued at $925,166.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Christopher Fitzgerald also recently made the following trade(s):

  • On Friday, September 7th, Christopher Fitzgerald sold 6,000 shares of Mimecast stock. The shares were sold at an average price of $40.98, for a total value of $245,880.00.

NASDAQ MIME traded up $0.40 on Monday, reaching $37.63. The stock had a trading volume of 272,498 shares, compared to its average volume of 470,606. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 1.20. Mimecast Ltd has a 12-month low of $26.50 and a 12-month high of $46.87. The stock has a market cap of $2.24 billion, a P/E ratio of -198.05 and a beta of 0.83.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Thursday, November 8th. The technology company reported ($0.02) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.05) by $0.03. Mimecast had a negative return on equity of 10.33% and a negative net margin of 5.44%. The company had revenue of $82.17 million during the quarter, compared to analysts’ expectations of $80.77 million. The company’s quarterly revenue was up 30.2% on a year-over-year basis. As a group, research analysts predict that Mimecast Ltd will post -0.03 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of MIME. DekaBank Deutsche Girozentrale lifted its stake in Mimecast by 131.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 2,661 shares of the technology company’s stock valued at $110,000 after buying an additional 1,511 shares during the last quarter. Simplex Trading LLC purchased a new stake in shares of Mimecast during the third quarter worth approximately $183,000. First Republic Investment Management Inc. purchased a new stake in shares of Mimecast during the third quarter worth approximately $203,000. PEAK6 Investments LLC purchased a new stake in shares of Mimecast during the third quarter worth approximately $210,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of Mimecast during the second quarter worth approximately $215,000. Institutional investors own 70.61% of the company’s stock.

A number of brokerages recently issued reports on MIME. BMO Capital Markets lowered their price target on Mimecast from $48.00 to $47.00 and set an “outperform” rating for the company in a report on Friday, August 10th. Robert W. Baird began coverage on Mimecast in a report on Wednesday, October 17th. They issued an “outperform” rating and a $45.00 price target for the company. BidaskClub raised Mimecast from a “buy” rating to a “strong-buy” rating in a report on Saturday. Summit Insights cut Mimecast from a “buy” rating to a “hold” rating in a research note on Monday, October 29th. Finally, Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Friday, November 16th. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Mimecast has an average rating of “Buy” and an average price target of $45.17.

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About Mimecast

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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