Whale Rock Capital Management LLC increased its position in shares of MuleSoft (NYSE:MULE) by 2,502.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,536,291 shares of the company’s stock after purchasing an additional 2,438,826 shares during the period. MuleSoft makes up 2.7% of Whale Rock Capital Management LLC’s portfolio, making the stock its 16th largest holding. Whale Rock Capital Management LLC owned about 1.95% of MuleSoft worth $58,994,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in shares of MuleSoft by 71,250.0% during the 4th quarter. Bank of Montreal Can now owns 5,708 shares of the company’s stock worth $133,000 after purchasing an additional 5,700 shares during the period. Gilder Gagnon Howe & Co. LLC boosted its stake in shares of MuleSoft by 852.0% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 9,682 shares of the company’s stock worth $225,000 after purchasing an additional 8,665 shares during the period. Quadrature Capital Ltd purchased a new position in shares of MuleSoft during the 4th quarter worth about $271,000. The Manufacturers Life Insurance Company purchased a new position in shares of MuleSoft during the 2nd quarter worth about $293,000. Finally, Wells Fargo & Company MN boosted its stake in shares of MuleSoft by 5,963.5% during the 2nd quarter. Wells Fargo & Company MN now owns 12,127 shares of the company’s stock worth $302,000 after purchasing an additional 11,927 shares during the period. 51.07% of the stock is owned by hedge funds and other institutional investors.
NYSE:MULE opened at $44.01 on Friday. MuleSoft has a one year low of $19.40 and a one year high of $44.58. The stock has a market capitalization of $5,816.25 and a PE ratio of -65.69.
MuleSoft (NYSE:MULE) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.07. MuleSoft had a negative net margin of 26.98% and a negative return on equity of 32.10%. The business had revenue of $88.70 million during the quarter, compared to analyst estimates of $83.56 million. During the same quarter in the previous year, the business posted ($0.10) EPS. The company’s quarterly revenue was up 60.1% compared to the same quarter last year. sell-side analysts expect that MuleSoft will post -0.63 earnings per share for the current year.
In other news, insider Simon Parmett sold 60,000 shares of MuleSoft stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $30.45, for a total value of $1,827,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Gary Little sold 21,826 shares of MuleSoft stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $24.21, for a total transaction of $528,407.46. The disclosure for this sale can be found here. In the last 90 days, insiders sold 457,614 shares of company stock valued at $13,814,363.
A number of brokerages recently weighed in on MULE. Jefferies Group lowered shares of MuleSoft from a “buy” rating to a “hold” rating and set a $29.00 price objective for the company. in a report on Wednesday, March 21st. JPMorgan Chase upgraded shares of MuleSoft from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $27.00 to $35.00 in a report on Friday, February 16th. Piper Jaffray reiterated an “overweight” rating and set a $33.00 price objective on shares of MuleSoft in a report on Friday, February 16th. Canaccord Genuity lowered shares of MuleSoft from a “buy” rating to a “hold” rating and set a $33.00 price objective for the company. in a report on Wednesday, March 21st. Finally, Instinet reiterated a “neutral” rating on shares of MuleSoft in a report on Wednesday, March 21st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $32.70.
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MuleSoft, Inc provides Anypoint Platform that allows customers to connect their applications, data, and devices in the United States, the United Kingdom, and internationally. Its platform also enables a self-serve infrastructure through discoverable building blocks or nodes that can be used and reused to compose applications.
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