Alpine Associates Management Inc. Takes $64.44 Million Position in MuleSoft (NYSE:MULE)

Alpine Associates Management Inc. acquired a new stake in shares of MuleSoft (NYSE:MULE) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 1,465,200 shares of the company’s stock, valued at approximately $64,440,000. MuleSoft comprises approximately 2.1% of Alpine Associates Management Inc.’s investment portfolio, making the stock its 16th largest position. Alpine Associates Management Inc. owned approximately 1.11% of MuleSoft as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its holdings in MuleSoft by 8.4% during the first quarter. Rhumbline Advisers now owns 24,027 shares of the company’s stock valued at $1,057,000 after buying an additional 1,854 shares during the last quarter. Northern Trust Corp increased its holdings in MuleSoft by 0.9% during the first quarter. Northern Trust Corp now owns 308,501 shares of the company’s stock valued at $13,567,000 after buying an additional 2,888 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in MuleSoft during the first quarter valued at approximately $146,000. Macquarie Group Ltd. increased its holdings in MuleSoft by 350.0% during the fourth quarter. Macquarie Group Ltd. now owns 5,400 shares of the company’s stock valued at $126,000 after buying an additional 4,200 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in MuleSoft during the first quarter valued at approximately $220,000. 51.09% of the stock is owned by hedge funds and other institutional investors.

A number of brokerages have commented on MULE. Zacks Investment Research cut shares of MuleSoft from a “hold” rating to a “strong sell” rating in a report on Thursday, April 19th. ValuEngine upgraded shares of MuleSoft from a “hold” rating to a “buy” rating in a research report on Wednesday, May 2nd. Nomura lowered shares of MuleSoft from a “buy” rating to a “neutral” rating and upped their price target for the stock from $30.00 to $45.00 in a research report on Wednesday, March 21st. Jefferies Financial Group lowered shares of MuleSoft from a “buy” rating to a “hold” rating and set a $29.00 price target for the company. in a research report on Wednesday, March 21st. Finally, Barclays lowered shares of MuleSoft from an “overweight” rating to an “equal weight” rating in a research report on Thursday, April 12th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. MuleSoft currently has an average rating of “Hold” and a consensus target price of $33.33.

In other news, Director Ann L. Winblad sold 8,770 shares of the stock in a transaction on Tuesday, April 17th. The shares were sold at an average price of $44.52, for a total value of $390,440.40. Following the sale, the director now owns 351,158 shares of the company’s stock, valued at $15,633,554.16. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Shares of MULE remained flat at $$44.57 during midday trading on Thursday. MuleSoft has a fifty-two week low of $19.40 and a fifty-two week high of $44.75. The stock has a market cap of $5.86 billion, a PE ratio of -66.52 and a beta of -3.73.

MuleSoft Profile

MuleSoft, Inc provides Anypoint Platform that allows customers to connect their applications, data, and devices in the United States, the United Kingdom, and internationally. Its platform also enables a self-serve infrastructure through discoverable building blocks or nodes that can be used and reused to compose applications.

Institutional Ownership by Quarter for MuleSoft (NYSE:MULE)

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