Dawn Enterprise Capital Fund LP stated that they own a 6.2% stake in Mimecast Ltd. (NASDAQ:MIME) in a Form 13G disclosure that was filed with the Securities and Exchange Commission on Wednesday, October 19th. The investor owns 3,397,738 shares of the stock worth approximately $71,828,181. The reporting parties listed on the disclosure included Dawn Enterprise Capital Fund LP, LJ Skye Trustees Limited, Bentley Trust (Malta) Limited, Dawn Mimecast Holdings Limited, Dawn Mimecast (II) Holdings Limited, Dawn Mimecast (III) Holdings Limited, Dawn Mimecast (IV) Holdings Limited and Dawn Mimecast Holdings V Ltd. The disclosure is available through the SEC website at this link.
Several other hedge funds have also bought and sold shares of MIME. KCG Holdings Inc. purchased a new stake in shares of Mimecast during the second quarter valued at approximately $162,000. First Mercantile Trust Co. purchased a new stake in shares of Mimecast during the third quarter valued at approximately $184,000. Geode Capital Management LLC raised its stake in shares of Mimecast by 4.7% in the first quarter. Geode Capital Management LLC now owns 21,159 shares of the company’s stock valued at $205,000 after buying an additional 959 shares during the last quarter. Barclays PLC raised its stake in shares of Mimecast by 70.2% in the first quarter. Barclays PLC now owns 29,100 shares of the company’s stock valued at $262,000 after buying an additional 12,000 shares during the last quarter. Finally, Monashee Investment Management LLC purchased a new stake in shares of Mimecast during the second quarter valued at approximately $509,000. 30.67% of the stock is owned by institutional investors and hedge funds.
Shares of Mimecast Ltd. (NASDAQ:MIME) traded up 9.36% during trading on Wednesday, hitting $21.14. The stock had a trading volume of 903,548 shares. Mimecast Ltd. has a 12-month low of $6.01 and a 12-month high of $21.58. The firm has a 50 day moving average price of $17.47 and a 200 day moving average price of $12.07. The firm’s market cap is $1.15 billion.
Mimecast (NASDAQ:MIME) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.08. The firm had revenue of $41.46 million for the quarter, compared to analysts’ expectations of $39.85 million. The business’s quarterly revenue was up 24.4% on a year-over-year basis. During the same period in the previous year, the company posted ($0.04) EPS. On average, equities analysts expect that Mimecast Ltd. will post $0.02 earnings per share for the current fiscal year.
Several equities analysts recently weighed in on the company. JPMorgan Chase & Co. assumed coverage on Mimecast in a research report on Friday, October 14th. They set an “overweight” rating on the stock. Barclays PLC lifted their target price on Mimecast from $16.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, October 3rd. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $20.00 target price (up from $15.00) on shares of Mimecast in a research report on Thursday, September 1st. Zacks Investment Research upgraded Mimecast from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Friday, August 12th. Finally, Dougherty & Co lifted their target price on Mimecast from $12.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $16.79.
Mimecast Limited is a United Kingdom-based business e-mail and data safety solutions provider. The Company offers solutions for e-mail security; archiving, risk and compliance; business continuity; migration, and employee productivity and mobility. Its products consist of Mimecast Secure Email Gateway, which is offered for spam and virus protection, content control and data leak prevention, targeted threat protection, file send, secure messaging, and advanced e-mail signature and disclaimer management; Mimecast Mailbox Continuity, which is offered for continuity services, and Mimecast Enterprise Information Archiving, which is offered for file archiving, legacy archive data management and Lync Instant messaging Archiving.
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