Mimecast (MIME) Shares Bought by Timpani Capital Management LLC

Timpani Capital Management LLC boosted its stake in Mimecast (NASDAQ:MIME) by 6.8% during the first quarter, HoldingsChannel.com reports. The fund owned 152,530 shares of the technology company’s stock after purchasing an additional 9,647 shares during the quarter. Mimecast comprises 1.9% of Timpani Capital Management LLC’s investment portfolio, making the stock its 11th biggest position. Timpani Capital Management LLC’s holdings in Mimecast were worth $5,404,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in MIME. American Century Companies Inc. grew its stake in Mimecast by 2.8% in the 4th quarter. American Century Companies Inc. now owns 193,162 shares of the technology company’s stock valued at $5,538,000 after acquiring an additional 5,187 shares during the period. Bank of New York Mellon Corp grew its stake in Mimecast by 1.6% in the 4th quarter. Bank of New York Mellon Corp now owns 391,621 shares of the technology company’s stock valued at $11,229,000 after acquiring an additional 6,041 shares during the period. UBS Asset Management Americas Inc. grew its stake in Mimecast by 18.5% in the 4th quarter. UBS Asset Management Americas Inc. now owns 399,100 shares of the technology company’s stock valued at $11,442,000 after acquiring an additional 62,200 shares during the period. Penn Capital Management Co. Inc. grew its stake in Mimecast by 30.2% in the 4th quarter. Penn Capital Management Co. Inc. now owns 354,777 shares of the technology company’s stock valued at $10,186,000 after acquiring an additional 82,277 shares during the period. Finally, Brown Advisory Inc. grew its stake in Mimecast by 18.3% in the 4th quarter. Brown Advisory Inc. now owns 1,976,489 shares of the technology company’s stock valued at $56,666,000 after acquiring an additional 305,380 shares during the period. 66.91% of the stock is currently owned by hedge funds and other institutional investors.

In other news, CEO Peter Bauer sold 22,500 shares of Mimecast stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $37.76, for a total transaction of $849,600.00. Following the transaction, the chief executive officer now owns 34,850 shares in the company, valued at approximately $1,315,936. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Edward Vincent Jennings sold 7,500 shares of Mimecast stock in a transaction on Monday, April 23rd. The stock was sold at an average price of $37.84, for a total value of $283,800.00. Following the transaction, the chief operating officer now owns 7,500 shares in the company, valued at approximately $283,800. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 118,000 shares of company stock worth $4,738,565.

Shares of MIME opened at $44.08 on Monday. Mimecast has a 52-week low of $24.63 and a 52-week high of $44.52. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.39 and a current ratio of 1.39. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of -232.00, a price-to-earnings-growth ratio of 31.49 and a beta of 0.23.

Mimecast (NASDAQ:MIME) last announced its earnings results on Monday, May 14th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.01) by ($0.04). Mimecast had a negative return on equity of 12.51% and a negative net margin of 5.38%. The business had revenue of $73.40 million for the quarter, compared to analyst estimates of $71.61 million. The firm’s revenue was up 40.1% on a year-over-year basis. analysts forecast that Mimecast will post 0.07 earnings per share for the current fiscal year.

A number of research firms recently issued reports on MIME. Needham & Company LLC lifted their price target on shares of Mimecast from $46.00 to $49.00 and gave the company a “buy” rating in a research note on Tuesday, May 15th. BMO Capital Markets lifted their target price on shares of Mimecast from $38.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 15th. Barclays lifted their target price on shares of Mimecast from $40.00 to $47.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 15th. BidaskClub raised shares of Mimecast from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 9th. Finally, Stephens lifted their target price on shares of Mimecast from $42.00 to $50.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $41.10.

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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Institutional Ownership by Quarter for Mimecast (NASDAQ:MIME)

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