Arizona State Retirement System lifted its stake in Mimecast Limited (NASDAQ:MIME – Get Rating) by 1.4% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,050 shares of the technology company’s stock after purchasing an additional 241 shares during the period. Arizona State Retirement System’s holdings in Mimecast were worth $1,356,000 at the end of the most recent quarter.
A number of other hedge funds have also recently made changes to their positions in MIME. Pentwater Capital Management LP bought a new position in shares of Mimecast in the fourth quarter worth about $114,183,000. Woodline Partners LP bought a new position in shares of Mimecast in the fourth quarter worth about $19,656,000. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Mimecast by 20.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,287,754 shares of the technology company’s stock worth $102,467,000 after purchasing an additional 217,779 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Mimecast by 60.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 529,533 shares of the technology company’s stock worth $42,135,000 after acquiring an additional 198,683 shares in the last quarter. Finally, Alpine Associates Management Inc. bought a new position in Mimecast during the 4th quarter worth about $14,792,000. 83.55% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
Several brokerages have issued reports on MIME. HC Wainwright increased their target price on shares of Mimecast from $64.00 to $69.00 and gave the stock a “buy” rating in a report on Monday, May 23rd. StockNews.com upgraded shares of Mimecast from a “hold” rating to a “buy” rating in a report on Monday, May 16th. Thirteen equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, Mimecast has an average rating of “Hold” and a consensus target price of $76.87.
Mimecast Stock Performance
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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