Mindbody Inc. (NASDAQ:MB) major shareholder Qualified Master Fund L. Abdiel bought 165,000 shares of Mindbody stock in a transaction on Thursday, September 29th. The shares were purchased at an average price of $19.57 per share, for a total transaction of $3,229,050.00. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.
Mindbody Inc. (NASDAQ:MB) opened at 19.66 on Friday. Mindbody Inc. has a 52-week low of $9.20 and a 52-week high of $20.38. The company’s market capitalization is $780.99 million. The company has a 50-day moving average price of $17.64 and a 200 day moving average price of $15.56.
Mindbody (NASDAQ:MB) last posted its earnings results on Wednesday, July 27th. The company reported ($0.10) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.04. The company had revenue of $33.60 million for the quarter, compared to analyst estimates of $33.22 million. Mindbody had a negative net margin of 27.12% and a negative return on equity of 30.95%. Mindbody’s revenue was up 35.5% on a year-over-year basis. During the same period in the previous year, the business posted ($0.21) EPS. Equities research analysts anticipate that Mindbody Inc. will post ($0.44) earnings per share for the current year.
A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on Mindbody from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Imperial Capital reissued an “outperform” rating and issued a $22.00 price target (up from $18.00) on shares of Mindbody in a research report on Friday, July 29th. JMP Securities boosted their price target on Mindbody from $19.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Thursday, July 28th. Credit Suisse Group AG reissued a “buy” rating on shares of Mindbody in a research report on Thursday, June 16th. Finally, KeyCorp boosted their price target on Mindbody from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 13th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. Mindbody has an average rating of “Buy” and a consensus target price of $22.07.
A number of institutional investors have recently bought and sold shares of the stock. Glenmede Trust Co. NA purchased a new position in Mindbody during the first quarter valued at $3,689,000. JPMorgan Chase & Co. raised its position in Mindbody by 595,629.9% in the first quarter. JPMorgan Chase & Co. now owns 637,431 shares of the company’s stock valued at $8,497,000 after buying an additional 637,324 shares during the last quarter. Royce & Associates LP raised its position in Mindbody by 159.2% in the first quarter. Royce & Associates LP now owns 68,551 shares of the company’s stock valued at $914,000 after buying an additional 42,100 shares during the last quarter. State Street Corp raised its position in Mindbody by 20.1% in the first quarter. State Street Corp now owns 96,558 shares of the company’s stock valued at $1,289,000 after buying an additional 16,172 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in Mindbody by 57.2% in the first quarter. Geode Capital Management LLC now owns 67,153 shares of the company’s stock valued at $895,000 after buying an additional 24,444 shares during the last quarter. Institutional investors own 38.49% of the company’s stock.
MINDBODY, Inc is a provider of cloud-based business management software for the wellness services industry and operates as a consumer marketplace with over 51,000 local business subscribers on its platform in over 130 countries and territories. The Company’s subscribers provide a range of wellness services to approximately 28 million active consumers.
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