Formula Growth Ltd. Sells 390,900 Shares of MobileIron, Inc. (MOBL)
Formula Growth Ltd. cut its holdings in MobileIron, Inc. (NASDAQ:MOBL) by 54.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 325,000 shares of the software maker’s stock after selling 390,900 shares during the quarter. Formula Growth Ltd. owned about 0.44% of MobileIron worth $1,966,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the business. Bank of Montreal Can raised its holdings in MobileIron by 26,262.0% in the first quarter. Bank of Montreal Can now owns 26,362 shares of the software maker’s stock worth $114,000 after purchasing an additional 26,262 shares during the period. American International Group Inc. raised its holdings in MobileIron by 7.1% in the first quarter. American International Group Inc. now owns 28,640 shares of the software maker’s stock worth $125,000 after purchasing an additional 1,904 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in MobileIron in the first quarter worth $136,000. JPMorgan Chase & Co. raised its holdings in MobileIron by 320.7% in the first quarter. JPMorgan Chase & Co. now owns 31,878 shares of the software maker’s stock worth $139,000 after purchasing an additional 24,301 shares during the period. Finally, Metropolitan Life Insurance Co. NY acquired a new stake in MobileIron in the first quarter worth $154,000. 54.87% of the stock is currently owned by hedge funds and other institutional investors.
In other MobileIron news, VP Daniel C. Fields sold 52,383 shares of the company’s stock in a transaction on Friday, September 8th. The shares were sold at an average price of $3.77, for a total transaction of $197,483.91. Following the transaction, the vice president now owns 423,037 shares in the company, valued at $1,594,849.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Daniel C. Fields sold 15,600 shares of the company’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $3.75, for a total transaction of $58,500.00. Following the transaction, the vice president now owns 423,037 shares in the company, valued at approximately $1,586,388.75. The disclosure for this sale can be found here. Corporate insiders own 31.70% of the company’s stock.
Shares of MobileIron, Inc. (NASDAQ:MOBL) traded down 0.71% during midday trading on Friday, reaching $3.50. 341,505 shares of the company’s stock traded hands. The company has a 50 day moving average of $3.95 and a 200 day moving average of $4.86. MobileIron, Inc. has a 52-week low of $2.56 and a 52-week high of $6.78. The firm’s market cap is $261.27 million.
MobileIron (NASDAQ:MOBL) last released its quarterly earnings data on Thursday, July 27th. The software maker reported ($0.08) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.16) by $0.08. MobileIron had a negative net margin of 32.67% and a negative return on equity of 136.81%. The firm had revenue of $42.65 million for the quarter, compared to the consensus estimate of $43.44 million. During the same quarter in the prior year, the company posted ($0.14) earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, equities analysts predict that MobileIron, Inc. will post ($0.19) EPS for the current fiscal year.
Several equities research analysts have weighed in on MOBL shares. Barclays PLC reiterated a “sell” rating and issued a $5.00 target price on shares of MobileIron in a report on Wednesday, July 19th. Northland Securities reiterated a “buy” rating and issued a $7.00 target price on shares of MobileIron in a report on Friday, July 14th. BidaskClub lowered shares of MobileIron from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Finally, ValuEngine upgraded shares of MobileIron from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Two investment analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. MobileIron currently has an average rating of “Hold” and a consensus price target of $5.64.
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MobileIron Company Profile
MobileIron, Inc (MobileIron) provides a mobile information technology (IT) platform for enterprises to manage and secure mobile applications, content and devices. The Company’s solution provides enterprise security. The MobileIron Platform combines security and enterprise mobility management (EMM) tools, including mobile device management (MDM), mobile application management (MAM), and mobile content management (MCM) capabilities.
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