Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Mimecast Limited (NASDAQ:MIME) by 17.7% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 28,605 shares of the technology company’s stock after purchasing an additional 4,304 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mimecast were worth $1,342,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the company. FMR LLC boosted its position in shares of Mimecast by 3.4% in the 2nd quarter. FMR LLC now owns 1,859,981 shares of the technology company’s stock valued at $77,488,000 after purchasing an additional 61,763 shares during the period. Point72 Asset Management L.P. boosted its holdings in shares of Mimecast by 44.6% in the second quarter. Point72 Asset Management L.P. now owns 1,666,766 shares of the technology company’s stock valued at $69,437,000 after acquiring an additional 513,710 shares during the period. First Trust Advisors LP grew its position in shares of Mimecast by 4.7% during the third quarter. First Trust Advisors LP now owns 1,662,691 shares of the technology company’s stock worth $78,013,000 after acquiring an additional 75,207 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Mimecast by 205.3% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,093,542 shares of the technology company’s stock valued at $45,558,000 after acquiring an additional 735,324 shares during the period. Finally, Macquarie Group Ltd. raised its position in Mimecast by 3.7% in the 2nd quarter. Macquarie Group Ltd. now owns 902,007 shares of the technology company’s stock valued at $37,577,000 after purchasing an additional 32,191 shares during the last quarter. 81.83% of the stock is owned by institutional investors and hedge funds.

In other news, CEO Peter Bauer sold 17,601 shares of the business’s stock in a transaction on Tuesday, September 1st. The stock was sold at an average price of $50.00, for a total value of $880,050.00. Following the completion of the transaction, the chief executive officer now directly owns 50,000 shares of the company’s stock, valued at $2,500,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP John J. Walsh, Jr. sold 2,000 shares of the stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $47.44, for a total value of $94,880.00. Following the sale, the vice president now directly owns 5,697 shares in the company, valued at approximately $270,265.68. The disclosure for this sale can be found here. Insiders sold 193,780 shares of company stock worth $8,781,917 over the last quarter. Company insiders own 9.50% of the company’s stock.

MIME has been the subject of a number of research reports. Monness Crespi & Hardt upped their target price on shares of Mimecast from $50.00 to $56.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Royal Bank of Canada upped their price objective on Mimecast from $48.00 to $53.00 and gave the company an “outperform” rating in a research note on Tuesday, August 4th. JPMorgan Chase & Co. downgraded Mimecast from a “neutral” rating to an “underweight” rating and lowered their target price for the company from $54.00 to $50.00 in a research note on Tuesday, August 4th. BidaskClub cut Mimecast from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 3rd. Finally, Oppenheimer reiterated a “buy” rating and issued a $53.00 price objective on shares of Mimecast in a research report on Tuesday, August 11th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $53.53.

NASDAQ:MIME opened at $41.91 on Friday. Mimecast Limited has a 52-week low of $25.14 and a 52-week high of $54.40. The company has a quick ratio of 1.10, a current ratio of 1.19 and a debt-to-equity ratio of 0.34. The stock has a fifty day simple moving average of $43.74 and a 200-day simple moving average of $43.72. The company has a market capitalization of $2.68 billion, a PE ratio of 174.63, a price-to-earnings-growth ratio of 6.76 and a beta of 1.29.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, November 2nd. The technology company reported $0.32 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.12. The firm had revenue of $122.69 million for the quarter, compared to analysts’ expectations of $121.19 million. Mimecast had a net margin of 3.44% and a return on equity of 7.27%. The firm’s revenue was up 18.7% on a year-over-year basis. During the same period in the prior year, the company earned $0.13 EPS. As a group, equities analysts anticipate that Mimecast Limited will post 0.29 earnings per share for the current 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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