Mobileiron Inc (NASDAQ:MOBL) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totalling 1,413,400 shares, a drop of 5.5% from the June 30th total of 1,494,900 shares. Approximately 1.9% of the company’s stock are short sold. Based on an average daily volume of 1,000,000 shares, the days-to-cover ratio is currently 1.4 days.
In other Mobileiron news, major shareholder Ventures Fund Lp Storm III sold 1,300,000 shares of the firm’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $6.74, for a total value of $8,762,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Tae Hea Nahm sold 274,427 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $6.76, for a total transaction of $1,855,126.52. Following the completion of the sale, the director now owns 158,781 shares of the company’s stock, valued at $1,073,359.56. The disclosure for this sale can be found here. Insiders sold 2,230,912 shares of company stock valued at $15,007,297 over the last 90 days. Corporate insiders own 13.48% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in MOBL. Northern Trust Corp boosted its holdings in Mobileiron by 0.9% in the fourth quarter. Northern Trust Corp now owns 881,218 shares of the software maker’s stock valued at $4,045,000 after purchasing an additional 8,217 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Mobileiron by 22.8% in the fourth quarter. Geode Capital Management LLC now owns 881,132 shares of the software maker’s stock valued at $4,043,000 after purchasing an additional 163,536 shares during the last quarter. Two Sigma Advisers LP boosted its holdings in Mobileiron by 60.6% in the fourth quarter. Two Sigma Advisers LP now owns 81,400 shares of the software maker’s stock valued at $374,000 after purchasing an additional 30,700 shares during the last quarter. Bank of America Corp DE boosted its holdings in Mobileiron by 3.2% in the fourth quarter. Bank of America Corp DE now owns 95,274 shares of the software maker’s stock valued at $437,000 after purchasing an additional 2,915 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in Mobileiron by 290.3% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 21,024 shares of the software maker’s stock valued at $97,000 after purchasing an additional 15,637 shares during the last quarter. 59.54% of the stock is currently owned by institutional investors.
A number of research analysts have recently issued reports on MOBL shares. Northland Securities reiterated a “buy” rating and set a $9.00 price objective on shares of Mobileiron in a report on Friday, August 2nd. ValuEngine upgraded shares of Mobileiron from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th. Morgan Stanley lifted their price objective on shares of Mobileiron from $5.00 to $8.00 and gave the company an “equal weight” rating in a report on Friday, August 2nd. Craig Hallum started coverage on shares of Mobileiron in a report on Wednesday, July 24th. They set a “buy” rating and a $11.00 price objective for the company. Finally, Zacks Investment Research upgraded shares of Mobileiron from a “hold” rating to a “strong-buy” rating and set a $7.75 price objective for the company in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the company’s stock. Mobileiron has an average rating of “Buy” and a consensus target price of $8.94.
Shares of NASDAQ MOBL opened at $6.82 on Friday. The stock has a market capitalization of $714.30 million, a P/E ratio of -16.24 and a beta of 1.70. The company has a 50-day moving average price of $6.58 and a 200-day moving average price of $5.70. Mobileiron has a 1 year low of $3.98 and a 1 year high of $7.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.31 and a quick ratio of 1.31.
Mobileiron (NASDAQ:MOBL) last issued its quarterly earnings data on Thursday, August 1st. The software maker reported ($0.04) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.10. The firm had revenue of $50.87 million during the quarter, compared to analysts’ expectations of $50.66 million. Mobileiron had a negative net margin of 23.43% and a negative return on equity of 89.20%. The business’s revenue was up 10.3% on a year-over-year basis. During the same period last year, the company earned ($0.04) earnings per share. As a group, equities research analysts anticipate that Mobileiron will post -0.32 earnings per share for the current fiscal year.
Mobileiron Company Profile
MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.
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