Columbus Circle Investors raised its holdings in shares of Mimecast Ltd (NASDAQ:MIME) by 35.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 984,785 shares of the technology company’s stock after purchasing an additional 256,023 shares during the period. Columbus Circle Investors owned 1.73% of Mimecast worth $27,988,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Quantbot Technologies LP bought a new stake in shares of Mimecast during the second quarter valued at approximately $104,000. US Bancorp DE increased its position in shares of Mimecast by 11.9% during the second quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock valued at $192,000 after acquiring an additional 759 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Mimecast during the second quarter valued at approximately $290,000. Bank of America Corp DE increased its position in shares of Mimecast by 45.2% during the first quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock valued at $294,000 after acquiring an additional 4,083 shares in the last quarter. Finally, Goldman Sachs Group Inc. purchased a new stake in Mimecast in the second quarter worth approximately $327,000. 58.69% of the stock is owned by institutional investors and hedge funds.
Mimecast Ltd (NASDAQ MIME) traded down $2.32 on Monday, hitting $27.81. 687,635 shares of the company were exchanged, compared to its average volume of 295,037. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.42 and a current ratio of 1.42. Mimecast Ltd has a 52 week low of $16.75 and a 52 week high of $32.00.
Several equities research analysts recently issued reports on MIME shares. Dougherty & Co raised their target price on shares of Mimecast from $32.00 to $36.00 and gave the stock a “buy” rating in a report on Monday, November 6th. Royal Bank Of Canada restated a “buy” rating and issued a $33.00 target price on shares of Mimecast in a report on Wednesday, October 18th. Needham & Company LLC restated a “buy” rating and issued a $35.00 target price on shares of Mimecast in a report on Tuesday, September 12th. Jefferies Group restated a “buy” rating and issued a $35.00 target price on shares of Mimecast in a report on Sunday, September 10th. Finally, Oppenheimer reiterated a “buy” rating and set a $35.00 price target (up previously from $32.00) on shares of Mimecast in a research note on Thursday, November 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $32.83.
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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.
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