Mimecast Ltd (NASDAQ:MIME) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 531,900 shares, a growth of 15.2% from the June 15th total of 461,600 shares. Based on an average daily trading volume, of 457,500 shares, the short-interest ratio is currently 1.2 days. Currently, 1.0% of the shares of the company are short sold.

In other news, Director Neil Murray sold 35,000 shares of the company’s stock in a transaction dated Friday, July 19th. The shares were sold at an average price of $48.91, for a total transaction of $1,711,850.00. Following the completion of the transaction, the director now owns 1,986,665 shares of the company’s stock, valued at $97,167,785.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Peter Bauer sold 18,750 shares of the company’s stock in a transaction dated Wednesday, May 22nd. The shares were sold at an average price of $46.87, for a total transaction of $878,812.50. Following the transaction, the chief executive officer now directly owns 33,500 shares of the company’s stock, valued at approximately $1,570,145. The disclosure for this sale can be found here. Insiders have sold 498,746 shares of company stock valued at $23,231,841 in the last ninety days. 11.60% of the stock is owned by company insiders.

A number of institutional investors have recently modified their holdings of the business. SG Americas Securities LLC bought a new stake in shares of Mimecast during the second quarter worth $102,000. Redwood Investments LLC increased its position in shares of Mimecast by 3.0% during the second quarter. Redwood Investments LLC now owns 236,773 shares of the technology company’s stock worth $11,060,000 after acquiring an additional 6,972 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in shares of Mimecast during the second quarter worth $32,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Mimecast during the second quarter worth $79,000. Finally, Toth Financial Advisory Corp bought a new stake in shares of Mimecast during the second quarter worth $234,000. 71.67% of the stock is currently owned by hedge funds and other institutional investors.

MIME has been the subject of a number of research analyst reports. Wedbush set a $12.00 target price on shares of Snap and gave the company a “hold” rating in a research note on Friday, July 19th. Needham & Company LLC cut shares of Acquity Group from a “buy” rating to a “hold” rating in a research note on Monday, May 6th. Cowen lowered their target price on shares of Nordstrom from $44.00 to $36.00 and set a “market perform” rating on the stock in a research note on Thursday, May 23rd. BMO Capital Markets set a $13.00 target price on shares of Vale and gave the company a “hold” rating in a research note on Tuesday, May 14th. Finally, BidaskClub cut shares of Utah Medical Products from a “hold” rating to a “sell” rating in a research note on Monday, July 8th. Four analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $54.31.

Mimecast stock traded down $2.33 during trading hours on Monday, hitting $48.55. 6,430 shares of the stock were exchanged, compared to its average volume of 264,664. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.75. The stock has a market capitalization of $3.04 billion, a PE ratio of -693.43, a P/E/G ratio of 61.67 and a beta of 1.13. Mimecast has a 12 month low of $29.67 and a 12 month high of $54.57. The stock has a 50-day moving average of $46.92.

Mimecast (NASDAQ:MIME) last issued its quarterly earnings data on Monday, May 13th. The technology company reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.01 by ($0.02). The firm had revenue of $92.20 million for the quarter, compared to the consensus estimate of $91.34 million. Mimecast had a negative return on equity of 2.72% and a negative net margin of 2.06%. Mimecast’s quarterly revenue was up 25.6% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.05) earnings per share. As a group, sell-side analysts expect that Mimecast will post 0.04 EPS for the current year.

About Mimecast

Mimecast Limited, a email and data security company, provides cloud security and risk management services for corporate information and email. The company offers Mimecast Email Security services, including targeted threat protection services, such as URL Protect that addresses the threat from emails containing malicious links; Attachment Protect that reduces threat from weaponized or malware-laden attachments used in spear-phishing and other attacks; Impersonation Protect that gives protection from malware-less social engineering attacks; and Internal Email Protect, which allows customers to monitor, detect, and remediate security threats that originate from within their internal email systems.

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