Mobileiron (NASDAQ:MOBL) Upgraded to Hold at BidaskClub

Mobileiron (NASDAQ:MOBL) was upgraded by stock analysts at BidaskClub from a “sell” rating to a “hold” rating in a research note issued to investors on Thursday, June 20th, BidAskClub reports.

A number of other research firms have also recently issued reports on MOBL. Zacks Investment Research cut Zurich Insurance Group from a “hold” rating to a “sell” rating in a report on Saturday, April 20th. Northland Securities restated a “hold” rating and set a $1.00 price objective on shares of Obalon Therapeutics in a report on Thursday, April 11th. Finally, ValuEngine upgraded ZIX from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 4th.

NASDAQ MOBL traded down $0.01 during trading on Thursday, hitting $6.23. 403,720 shares of the stock traded hands, compared to its average volume of 1,029,528. The firm has a market capitalization of $678.42 million, a P/E ratio of -14.83 and a beta of 1.70. The company has a 50-day moving average of $5.79. The company has a quick ratio of 1.40, a current ratio of 1.40 and a debt-to-equity ratio of 0.24. Mobileiron has a 12-month low of $3.98 and a 12-month high of $6.58.

Mobileiron (NASDAQ:MOBL) last announced its earnings results on Thursday, April 25th. The software maker reported ($0.15) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.14) by ($0.01). Mobileiron had a negative return on equity of 80.43% and a negative net margin of 22.17%. The company had revenue of $48.10 million during the quarter, compared to analysts’ expectations of $48.10 million. During the same quarter last year, the firm posted ($0.06) EPS. Mobileiron’s revenue for the quarter was up 10.1% compared to the same quarter last year. Equities analysts forecast that Mobileiron will post -0.39 EPS for the current fiscal year.

In other news, VP Sohail M. Parekh sold 25,449 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $5.99, for a total value of $152,439.51. Following the completion of the transaction, the vice president now directly owns 557,080 shares of the company’s stock, valued at approximately $3,336,909.20. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sohail M. Parekh sold 10,000 shares of the business’s stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $6.09, for a total value of $60,900.00. Following the completion of the transaction, the vice president now directly owns 557,080 shares of the company’s stock, valued at $3,392,617.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 163,034 shares of company stock valued at $1,002,646. 13.48% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently made changes to their positions in MOBL. Quantamental Technologies LLC boosted its stake in shares of Mobileiron by 78.7% in the first quarter. Quantamental Technologies LLC now owns 8,400 shares of the software maker’s stock worth $46,000 after buying an additional 3,700 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Mobileiron in the first quarter worth about $57,000. Amalgamated Bank purchased a new stake in shares of Mobileiron in the fourth quarter worth about $50,000. GSA Capital Partners LLP acquired a new position in Mobileiron in the 4th quarter worth about $68,000. Finally, BNP Paribas Arbitrage SA raised its holdings in Mobileiron by 2,038.2% in the 1st quarter. BNP Paribas Arbitrage SA now owns 16,272 shares of the software maker’s stock worth $89,000 after purchasing an additional 15,511 shares during the period. Hedge funds and other institutional investors own 62.12% of the company’s stock.

About Mobileiron

MobileIron, Inc, together with its subsidiaries, provides mobile IT platform that enables enterprises to manage and secure mobile applications, content, and devices while offering their employees with device choice, privacy, and a native user experience worldwide. It offers MobileIron security platform, which includes MobileIron unified endpoint management, a comprehensive security platform that provides the fundamental visibility and IT controls to secure, manage, and monitor various corporate or employee-owned mobile devices or desktops that access business-critical data; MobileIron Access to block untrusted devices and apps from accessing cloud services based on security posture and compliance, as well as provide single sign-on and multifactor authentication for applications on the device; and MobileIron Tunnel that provides secure connectivity through a per-app VPN to connect applications to back-end services.

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