Zacks Investment Research downgraded shares of Mobileiron (NASDAQ:MOBL) from a hold rating to a sell rating in a research note issued to investors on Saturday morning, Zacks.com reports.

According to Zacks, “MobileIron, Inc. is engaged in providing security and management solutions for mobile applications, content, and devices. The Company provides software tools for device management, activity intelligence, and security. MobileIron offers multi-OS mobile device management software, mobile application management, Wireless Expense Management, Enterprise Mobility, Mobile Device Security and Bring-Your-Own-Device privacy controls, MobileIron Virtual Smartphone Platform. It serves financial services, government, healthcare, legal, manufacturing, professional services, retail, technology, and telecommunications industries in the United States and internationally. MobileIron, Inc. is headquartered in Mountain View, California. “

Several other brokerages have also recently issued reports on MOBL. BidaskClub cut Mobileiron from a hold rating to a sell rating in a report on Thursday, March 7th. Northland Securities reaffirmed a buy rating and issued a $6.50 target price on shares of Mobileiron in a report on Thursday, April 11th.

Shares of MOBL stock opened at $5.63 on Friday. Mobileiron has a 12-month low of $3.98 and a 12-month high of $5.86. The stock has a market capitalization of $601.24 million, a PE ratio of -13.30 and a beta of 1.76.

Mobileiron (NASDAQ:MOBL) last issued its earnings results on Thursday, February 7th. The software maker reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. Mobileiron had a negative return on equity of 76.61% and a negative net margin of 22.30%. The firm had revenue of $54.10 million for the quarter, compared to analysts’ expectations of $54.40 million. Mobileiron’s revenue for the quarter was up 10.9% compared to the same quarter last year. On average, research analysts anticipate that Mobileiron will post -0.35 EPS for the current fiscal year.

In related news, Director Leslie Stretch acquired 11,950 shares of Mobileiron stock in a transaction on Friday, March 15th. The shares were bought at an average cost of $5.01 per share, with a total value of $59,869.50. Following the completion of the purchase, the director now directly owns 22,228 shares of the company’s stock, valued at approximately $111,362.28. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 24.29% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of MOBL. Bank of New York Mellon Corp increased its stake in Mobileiron by 4.0% during the third quarter. Bank of New York Mellon Corp now owns 380,721 shares of the software maker’s stock worth $2,018,000 after acquiring an additional 14,566 shares during the last quarter. BlackRock Inc. increased its stake in Mobileiron by 9.4% during the third quarter. BlackRock Inc. now owns 5,103,339 shares of the software maker’s stock worth $27,047,000 after acquiring an additional 437,923 shares during the last quarter. Renaissance Technologies LLC increased its stake in Mobileiron by 18.1% during the third quarter. Renaissance Technologies LLC now owns 2,377,500 shares of the software maker’s stock worth $12,601,000 after acquiring an additional 365,100 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Mobileiron by 5.2% during the third quarter. The Manufacturers Life Insurance Company now owns 1,700,926 shares of the software maker’s stock worth $9,015,000 after acquiring an additional 84,761 shares during the last quarter. Finally, MetLife Investment Advisors LLC increased its stake in Mobileiron by 55.2% during the third quarter. MetLife Investment Advisors LLC now owns 43,962 shares of the software maker’s stock worth $233,000 after acquiring an additional 15,637 shares during the last quarter. 59.91% of the stock is currently owned by institutional investors.

Mobileiron Company Profile

MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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