Sumitomo Mitsui Asset Management Company LTD Raises Stake in Mulesoft Inc (MULE)
Sumitomo Mitsui Asset Management Company LTD boosted its stake in Mulesoft Inc (NASDAQ:MULE) by 61.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,523 shares of the company’s stock after buying an additional 5,523 shares during the period. Sumitomo Mitsui Asset Management Company LTD’s holdings in Mulesoft were worth $362,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Strs Ohio acquired a new stake in shares of Mulesoft during the first quarter valued at $121,000. AO Asset Management LLC acquired a new stake in shares of Mulesoft during the first quarter valued at $122,000. Nationwide Fund Advisors acquired a new stake in shares of Mulesoft during the first quarter valued at $146,000. SG Americas Securities LLC acquired a new stake in shares of Mulesoft during the first quarter valued at $183,000. Finally, Point72 Asia Hong Kong Ltd acquired a new stake in shares of Mulesoft during the first quarter valued at $242,000.
Shares of Mulesoft Inc (MULE) opened at 21.63 on Friday. Mulesoft Inc has a 52 week low of $18.84 and a 52 week high of $29.00. The firm’s market cap is $2.79 billion. The stock’s 50 day moving average is $23.88 and its 200 day moving average is $23.92.
Mulesoft (NASDAQ:MULE) last issued its quarterly earnings results on Thursday, July 27th. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.01. The company had revenue of $69.20 million during the quarter, compared to analyst estimates of $63.63 million. Mulesoft had a negative net margin of 28.36% and a negative return on equity of 30.07%. Mulesoft’s quarterly revenue was up 57.3% on a year-over-year basis. On average, equities research analysts predict that Mulesoft Inc will post ($0.39) earnings per share for the current fiscal year.
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Several equities research analysts have recently weighed in on MULE shares. William Blair reiterated an “outperform” rating on shares of Mulesoft in a research note on Sunday, April 23rd. Jefferies Group LLC reiterated a “buy” rating on shares of Mulesoft in a research note on Friday, May 5th. Oppenheimer Holdings, Inc. started coverage on shares of Mulesoft in a research note on Thursday, June 8th. They set a “market perform” rating for the company. CIBC started coverage on shares of Mulesoft in a research note on Thursday, June 8th. They set a “market perform” rating for the company. Finally, Zacks Investment Research downgraded shares of Mulesoft from a “hold” rating to a “sell” rating in a research note on Tuesday, June 13th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.86.
Mulesoft Company Profile
MuleSoft, Inc is engaged in providing a software platform that connects a range of technologies. The Company enables organizations to manage and secure the flow of data between all systems in the enterprise. The Company offers organizations to create agile infrastructures. The Company has developed Anypoint Platform.
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