Citigroup Inc. Increases Stock Holdings in Mimecast Limited (NASDAQ:MIME)

Citigroup Inc. increased its holdings in shares of Mimecast Limited (NASDAQ:MIMEGet Rating) by 154.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 230,995 shares of the technology company’s stock after acquiring an additional 140,124 shares during the period. Citigroup Inc.’s holdings in Mimecast were worth $18,378,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Picton Mahoney Asset Management purchased a new position in shares of Mimecast during the 1st quarter valued at approximately $21,928,000. US Bancorp DE lifted its holdings in Mimecast by 3.3% in the 1st quarter. US Bancorp DE now owns 18,337 shares of the technology company’s stock valued at $1,460,000 after purchasing an additional 580 shares in the last quarter. Gardner Lewis Asset Management L P purchased a new position in Mimecast in the 1st quarter valued at $883,000. Crossmark Global Holdings Inc. lifted its holdings in Mimecast by 5.7% in the 1st quarter. Crossmark Global Holdings Inc. now owns 5,580 shares of the technology company’s stock valued at $444,000 after purchasing an additional 300 shares in the last quarter. Finally, State of Tennessee Treasury Department purchased a new position in Mimecast in the 1st quarter valued at $150,000. Hedge funds and other institutional investors own 83.55% of the company’s stock.

Mimecast Price Performance

Shares of NASDAQ:MIME opened at $79.92 on Friday. The business has a 50-day moving average price of $79.92 and a 200 day moving average price of $79.76. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 0.14. The company has a market capitalization of $5.35 billion, a price-to-earnings ratio of 114.17 and a beta of 1.35. Mimecast Limited has a 12-month low of $45.66 and a 12-month high of $85.48.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MIME. StockNews.com upgraded Mimecast from a “hold” rating to a “buy” rating in a report on Monday, May 16th. HC Wainwright raised their price objective on Mimecast from $64.00 to $69.00 and gave the company a “buy” rating in a report on Monday, May 23rd. Twelve research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $78.50.

About Mimecast

(Get Rating)

Mimecast Limited provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security solution, which protects against the delivery of malware, malicious URLs and attachments, spam, viruses, impersonation attacks, phishing, and spear-phishing attacks, including business email compromise, identity theft, extortion, fraud, and other attacks, while also preventing data leaks and other internal threats, as well as provides awareness training services.

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Institutional Ownership by Quarter for Mimecast (NASDAQ:MIME)

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