Harbourvest Partners Lowers stake in Mobileiron Inc (MOBL)

Mobileiron Inc (MOBL) : Harbourvest Partners reduced its stake in Mobileiron Inc by 76.62% during the most recent quarter end. The investment management company now holds a total of 11,122 shares of Mobileiron Inc which is valued at $37,147 after selling 36,444 shares in Mobileiron Inc , the firm said in a disclosure report filed with the SEC on Aug 15, 2016.Mobileiron Inc makes up approximately 0.02% of Harbourvest Partners’s portfolio.

Other Hedge Funds, Including , Millennium Management boosted its stake in MOBL in the latest quarter, The investment management firm added 51,597 additional shares and now holds a total of 376,138 shares of Mobileiron Inc which is valued at $1,256,301.Spark Investment Management reduced its stake in MOBL by selling 251,731 shares or 54.05% in the most recent quarter. The Hedge Fund company now holds 214,000 shares of MOBL which is valued at $714,760. Mobileiron Inc makes up approx 0.06% of Spark Investment Management’s portfolio. General Motors Investment Management Corp added MOBL to its portfolio by purchasing 270,737 company shares during the most recent quarter which is valued at $904,262. Mobileiron Inc makes up approx 2.76% of General Motors Investment Management Corp’s portfolio.

Mobileiron Inc (MOBL) witnessed a volatile trading activity on Thursday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $3 and reached the intraday high at $3.05. The bulls started the profit booking and pushed the shares to intraday low of $2.965. The trading session was marked by a volume range of 2,37,919 shares exchanging hands. The 52-week high of the shares is $4.78 and the 52-week low is $2.78. The market cap of the company stands at $258 M and there are 8,57,14,533 shares in public circulation.

On the company’s financial health, Mobileiron Inc reported $-0.14 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $-0.16. The company had revenue of $38.90 million for the quarter, compared to analysts expectations of $37.78 million. The company’s revenue was up 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.25 EPS.

Many Wall Street Analysts have commented on Mobileiron Inc. Shares were Downgraded by Barclays on Jul 15, 2016 to ” Underweight” and Lowered the Price Target to $ 3 from a previous price target of $6 .

MobileIron Inc. formerly Mobile Iron Inc. provides a purpose-built mobile Information Technology (IT) platform for enterprises to secure and manage mobile applications or apps content and devices while providing their employees with device choice privacy and a native user experience. The Company has introduced new products and functionality to address the management and security of mobile applications and content and has extended its solution to a cloud offering to enable deployment flexibility for its customers. The Company’s platform enables four areas of functionality which include Mobile Device Management (MDM) Mobile Application Management (MAM) Mobile Content Management (MCM) and Advanced Services. It focuses on customers of all sizes across a range of industries including financial services government healthcare legal manufacturing professional services retail technology and telecommunications.

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