Herald Investment Management Ltd Invests $2.80 Million in Mimecast Ltd (MIME)

Herald Investment Management Ltd Invests $2.80 Million in Mimecast Ltd (MIME)

Several other institutional investors also recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC boosted its position in Mimecast by 1.7% in the first quarter. Stephens Investment Management Group LLC now owns 518,346 shares of the technology company’s stock worth $11,606,000 after buying an additional 8,801 shares during the period. Wellington Management Group LLP boosted its position in Mimecast by 3.1% in the first quarter. Wellington Management Group LLP now owns 1,626,028 shares of the technology company’s stock worth $36,407,000 after buying an additional 48,438 shares during the period. Cortina Asset Management LLC boosted its position in Mimecast by 22.4% in the first quarter. Cortina Asset Management LLC now owns 499,170 shares of the technology company’s stock worth $11,176,000 after buying an additional 91,374 shares during the period. Cadence Capital Management LLC bought a new position in Mimecast during the first quarter worth $679,000. Finally, Pier Capital LLC boosted its position in Mimecast by 17.5% in the first quarter. Pier Capital LLC now owns 273,309 shares of the technology company’s stock worth $6,119,000 after buying an additional 40,713 shares during the period. 42.93% of the stock is owned by institutional investors.

Herald Investment Management Ltd purchased a new position in Mimecast Ltd (NASDAQ:MIME) during the first quarter, Holdings Channel reports. The fund purchased 125,000 shares of the technology company’s stock, valued at approximately $2,798,000.

Mimecast Ltd (MIME) opened at 26.82 on Thursday. Mimecast Ltd has a 52 week low of $8.09 and a 52 week high of $27.59. The firm’s market cap is $1.51 billion. The firm’s 50 day moving average price is $24.67 and its 200-day moving average price is $21.47.

Mimecast (NASDAQ:MIME) last announced its quarterly earnings results on Tuesday, May 9th. The technology company reported ($0.05) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.05). The company had revenue of $52.40 million for the quarter, compared to analysts’ expectations of $52.12 million. Mimecast had a negative net margin of 2.80% and a negative return on equity of 6.07%. Mimecast’s quarterly revenue was up 42.0% on a year-over-year basis. On average, analysts forecast that Mimecast Ltd will post $0.06 EPS for the current year.

A number of research firms have recently weighed in on MIME. Zacks Investment Research cut Mimecast from a “hold” rating to a “strong sell” rating in a report on Saturday, May 13th. Benchmark Co. boosted their price target on Mimecast from $30.00 to $35.00 and gave the stock a “buy” rating in a report on Wednesday, May 10th. Summit Redstone reissued a “buy” rating and issued a $30.00 price target on shares of Mimecast in a report on Thursday, April 13th. Monness Crespi & Hardt initiated coverage on Mimecast in a research report on Thursday, April 6th. They issued a “neutral” rating for the company. Finally, Barclays PLC reaffirmed an “overweight” rating and issued a $27.00 price objective (up previously from $26.00) on shares of Mimecast in a research report on Thursday, February 16th. One analyst has rated the stock with a sell rating, one has issued a hold rating and eleven have given a buy rating to the company. Mimecast presently has an average rating of “Buy” and an average target price of $27.80.

Mimecast Company Profile

Mimecast Limited is a provider of cloud security and risk management services for corporate information and e-mail. The Company’s suite of cloud services protects customers from the business and data security risks. It also mitigates the business disruption that e-mail failure or downtime causes. In addition, its archiving services secure, store and manage critical corporate communications and information to address the compliance and e-discovery requirements.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:MIME”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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