Comerica Bank raised its stake in Mimecast Limited (NASDAQ:MIME – Get Rating) by 0.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 28,862 shares of the technology company’s stock after acquiring an additional 205 shares during the period. Comerica Bank’s holdings in Mimecast were worth $2,299,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of MIME. Strs Ohio grew its stake in shares of Mimecast by 5.6% in the fourth quarter. Strs Ohio now owns 22,500 shares of the technology company’s stock worth $1,790,000 after acquiring an additional 1,200 shares during the last quarter. New York State Teachers Retirement System grew its stake in shares of Mimecast by 174.9% in the fourth quarter. New York State Teachers Retirement System now owns 26,172 shares of the technology company’s stock worth $2,083,000 after acquiring an additional 16,653 shares during the last quarter. GAM Holding AG purchased a new stake in shares of Mimecast in the fourth quarter worth $2,196,000. State of Michigan Retirement System grew its stake in shares of Mimecast by 2.0% in the fourth quarter. State of Michigan Retirement System now owns 15,600 shares of the technology company’s stock worth $1,241,000 after acquiring an additional 300 shares during the last quarter. Finally, Chicago Capital Management LLC purchased a new stake in shares of Mimecast during the fourth quarter valued at $11,617,000. 83.55% of the stock is owned by hedge funds and other institutional investors.
Mimecast Price Performance
MIME stock opened at $79.92 on Friday. Mimecast Limited has a fifty-two week low of $45.66 and a fifty-two week high of $85.48. The business’s 50-day moving average is $79.92 and its two-hundred day moving average is $79.69. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market cap of $5.35 billion, a price-to-earnings ratio of 114.17 and a beta of 1.35.
Analysts Set New Price Targets
MIME has been the topic of several recent analyst reports. HC Wainwright increased their price objective on Mimecast from $64.00 to $69.00 and gave the company a “buy” rating in a research report on Monday, May 23rd. StockNews.com raised Mimecast from a “hold” rating to a “buy” rating in a research report on Monday, May 16th. Thirteen investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $76.87.
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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