Geode Capital Management LLC Buys 23,176 Shares of MINDBODY, Inc. (MB)
Geode Capital Management LLC increased its position in shares of MINDBODY, Inc. (NASDAQ:MB) by 15.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 169,238 shares of the technology company’s stock after buying an additional 23,176 shares during the period. Geode Capital Management LLC’s holdings in MINDBODY were worth $4,645,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in the stock. Quantbot Technologies LP raised its position in shares of MINDBODY by 96.3% in the first quarter. Quantbot Technologies LP now owns 3,932 shares of the technology company’s stock valued at $107,000 after buying an additional 1,929 shares in the last quarter. Legal & General Group Plc raised its position in shares of MINDBODY by 4.1% in the first quarter. Legal & General Group Plc now owns 4,218 shares of the technology company’s stock valued at $116,000 after buying an additional 166 shares in the last quarter. American International Group Inc. raised its position in shares of MINDBODY by 7.1% in the first quarter. American International Group Inc. now owns 8,871 shares of the technology company’s stock valued at $244,000 after buying an additional 588 shares in the last quarter. RidgeWorth Capital Management LLC acquired a new position in shares of MINDBODY during the first quarter valued at $376,000. Finally, Teachers Advisors LLC raised its position in shares of MINDBODY by 4.8% in the fourth quarter. Teachers Advisors LLC now owns 24,524 shares of the technology company’s stock valued at $522,000 after buying an additional 1,132 shares in the last quarter. Institutional investors and hedge funds own 75.04% of the company’s stock.
MINDBODY, Inc. (NASDAQ MB) traded up 0.41% during mid-day trading on Tuesday, hitting $24.35. The stock had a trading volume of 25,362 shares. The company’s market cap is $1.13 billion. MINDBODY, Inc. has a one year low of $16.71 and a one year high of $29.75. The company has a 50 day moving average price of $25.63 and a 200-day moving average price of $26.56.
MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.05) by $0.04. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. The firm had revenue of $44.10 million for the quarter, compared to the consensus estimate of $44.11 million. During the same quarter in the previous year, the firm posted ($0.10) EPS. The firm’s quarterly revenue was up 31.3% on a year-over-year basis. Equities analysts expect that MINDBODY, Inc. will post ($0.09) earnings per share for the current fiscal year.
Several brokerages recently weighed in on MB. Pacific Crest lowered MINDBODY from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 5th. Morgan Stanley boosted their price objective on MINDBODY from $27.00 to $29.00 and gave the stock an “equal weight” rating in a research note on Friday, May 5th. BidaskClub upgraded MINDBODY from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 24th. Roth Capital set a $32.00 price objective on MINDBODY and gave the stock a “buy” rating in a research note on Tuesday, June 6th. Finally, J P Morgan Chase & Co began coverage on MINDBODY in a research note on Friday, June 9th. They set an “overweight” rating and a $38.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.55.
In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $26.16, for a total transaction of $464,052.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Luxor Capital Group, Lp acquired 257,500 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average cost of $27.95 per share, with a total value of $7,197,125.00. The disclosure for this purchase can be found here. Insiders have sold a total of 69,720 shares of company stock worth $1,848,769 in the last ninety days. 8.22% of the stock is currently owned by insiders.
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with local business subscribers on its platform. The Company’s subscribers provide a range of wellness services to active consumers. Its integrated software and payments platform helps business owners in the wellness services industry run, market and build their businesses.
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