Insight Holdings Group LLC held its stake in Mimecast Limited (NASDAQ:MIME) during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 9,507,752 shares of the technology company’s stock at the end of the second quarter. Mimecast Limited makes up 62.2% of Insight Holdings Group LLC’s holdings, making the stock its largest position. Insight Holdings Group LLC owned 0.17% of Mimecast Limited worth $254,618,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE increased its stake in Mimecast Limited by 11.9% in the second quarter. US Bancorp DE now owns 7,155 shares of the technology company’s stock valued at $192,000 after buying an additional 759 shares during the period. First Mercantile Trust Co. increased its stake in Mimecast Limited by 14.1% in the first quarter. First Mercantile Trust Co. now owns 12,375 shares of the technology company’s stock valued at $277,000 after buying an additional 1,530 shares during the period. JPMorgan Chase & Co. increased its stake in Mimecast Limited by 15.8% in the first quarter. JPMorgan Chase & Co. now owns 17,497 shares of the technology company’s stock valued at $392,000 after buying an additional 2,385 shares during the period. Bank of America Corp DE increased its stake in Mimecast Limited by 45.2% in the first quarter. Bank of America Corp DE now owns 13,111 shares of the technology company’s stock valued at $294,000 after buying an additional 4,083 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Mimecast Limited by 29.6% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 21,431 shares of the technology company’s stock valued at $480,000 after buying an additional 4,900 shares during the period. Institutional investors and hedge funds own 47.95% of the company’s stock.

Mimecast Limited (MIME) opened at 29.11 on Thursday. Mimecast Limited has a 52 week low of $13.73 and a 52 week high of $30.10. The stock’s market cap is $1.64 billion. The stock’s 50 day moving average price is $27.30 and its 200 day moving average price is $24.03.

Mimecast Limited (NASDAQ:MIME) last posted its earnings results on Monday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.05. Mimecast Limited had a negative return on equity of 9.67% and a negative net margin of 3.73%. The firm had revenue of $58.16 million for the quarter, compared to analyst estimates of $54.96 million. During the same quarter in the prior year, the company earned $0.04 EPS. Mimecast Limited’s revenue was up 40.3% on a year-over-year basis. On average, analysts forecast that Mimecast Limited will post $0.06 earnings per share for the current year.

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Several analysts have recently weighed in on the company. Needham & Company LLC reiterated a “buy” rating and set a $35.00 target price (up from $33.00) on shares of Mimecast Limited in a research report on Tuesday. J P Morgan Chase & Co restated an “overweight” rating and set a $36.00 price target (up previously from $32.00) on shares of Mimecast Limited in a research note on Wednesday. Jefferies Group LLC restated a “buy” rating and set a $35.00 price target (up previously from $32.00) on shares of Mimecast Limited in a research note on Wednesday. BidaskClub lowered Mimecast Limited from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $32.00 price target (up previously from $27.00) on shares of Mimecast Limited in a research note on Tuesday. One analyst has rated the stock with a sell rating, one has given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $30.46.

Mimecast Limited 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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Institutional Ownership by Quarter for Mimecast Limited (NASDAQ:MIME)

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