Mimecast Limited (NASDAQ:MIME) Shares Sold by Grandeur Peak Global Advisors LLC

Grandeur Peak Global Advisors LLC cut its position in Mimecast Limited (NASDAQ:MIME) by 35.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,415 shares of the technology company’s stock after selling 22,400 shares during the period. Grandeur Peak Global Advisors LLC owned 0.06% of Mimecast worth $1,665,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the company. Eaton Vance Management acquired a new position in Mimecast during the first quarter worth $74,000. Morgan Stanley boosted its stake in Mimecast by 71.2% during the first quarter. Morgan Stanley now owns 202,276 shares of the technology company’s stock worth $8,133,000 after buying an additional 84,148 shares during the last quarter. Maverick Capital Ltd. boosted its stake in Mimecast by 158.1% during the first quarter. Maverick Capital Ltd. now owns 20,824 shares of the technology company’s stock worth $837,000 after buying an additional 12,757 shares during the last quarter. Bares Capital Management Inc. boosted its stake in Mimecast by 46.8% during the first quarter. Bares Capital Management Inc. now owns 432,027 shares of the technology company’s stock worth $17,372,000 after buying an additional 137,793 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Mimecast by 298.7% during the first quarter. Cubist Systematic Strategies LLC now owns 115,872 shares of the technology company’s stock worth $4,659,000 after buying an additional 86,808 shares during the last quarter. 79.88% of the stock is currently owned by hedge funds and other institutional investors.

A number of research firms have weighed in on MIME. Zacks Investment Research raised Mimecast from a “hold” rating to a “buy” rating and set a $62.00 price objective on the stock in a research note on Wednesday, July 14th. Barclays lifted their target price on Mimecast from $56.00 to $61.00 and gave the company an “overweight” rating in a research report on Thursday, July 15th. Monness Crespi & Hardt lifted their target price on Mimecast from $56.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, May 12th. Northland Securities lifted their target price on Mimecast from $55.00 to $60.00 and gave the company an “outperform” rating in a research report on Wednesday, May 12th. Finally, Needham & Company LLC lifted their target price on Mimecast from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Wednesday, July 14th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $56.73.

In other news, CRO Dino Dimarino sold 4,500 shares of the company’s stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $44.53, for a total transaction of $200,385.00. Following the completion of the transaction, the executive now directly owns 16,156 shares of the company’s stock, valued at approximately $719,426.68. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Peter Bauer sold 7,500 shares of the company’s stock in a transaction dated Wednesday, July 7th. The stock was sold at an average price of $54.57, for a total value of $409,275.00. The disclosure for this sale can be found here. Insiders have sold a total of 264,381 shares of company stock valued at $13,030,667 over the last three months. 9.50% of the stock is currently owned by insiders.

Shares of MIME stock traded up $0.38 on Thursday, hitting $56.42. The stock had a trading volume of 78 shares, compared to its average volume of 427,716. Mimecast Limited has a 1 year low of $37.03 and a 1 year high of $59.48. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 124.53, a P/E/G ratio of 2.50 and a beta of 1.30. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a 50 day moving average of $51.99.

Mimecast (NASDAQ:MIME) last released its earnings results on Tuesday, May 11th. The technology company reported $0.28 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.05. Mimecast had a return on equity of 10.01% and a net margin of 5.93%. The firm had revenue of $133.90 million during the quarter, compared to analysts’ expectations of $131.19 million. During the same period in the previous year, the firm posted $0.15 EPS. Mimecast’s revenue for the quarter was up 17.3% on a year-over-year basis. Equities analysts forecast that Mimecast Limited will post 0.64 earnings per share for the current fiscal year.

About Mimecast

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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Institutional Ownership by Quarter for Mimecast (NASDAQ:MIME)

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