Alliancebernstein L.P. reduced its stake in MINDBODY, Inc. (NASDAQ:MB) by 30.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,700 shares of the technology company’s stock after selling 5,900 shares during the period. Alliancebernstein L.P.’s holdings in MINDBODY were worth $376,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. 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 worth $107,000 after buying an additional 1,929 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 worth $244,000 after buying an additional 588 shares in the last quarter. RidgeWorth Capital Management LLC bought a new position in shares of MINDBODY during the first quarter worth approximately $376,000. 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 worth $522,000 after buying an additional 1,132 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of MINDBODY by 52.1% in the first quarter. Swiss National Bank now owns 22,200 shares of the technology company’s stock worth $609,000 after buying an additional 7,600 shares in the last quarter. 71.49% of the stock is currently owned by institutional investors.
Shares of MINDBODY, Inc. (NASDAQ MB) traded up 1.94% during mid-day trading on Friday, reaching $23.60. The company had a trading volume of 342,328 shares. The firm’s 50-day moving average is $25.75 and its 200 day moving average is $26.56. The company’s market capitalization is $1.09 billion. MINDBODY, Inc. has a 12 month low of $16.71 and a 12 month high of $29.75.
MINDBODY (NASDAQ:MB) last announced its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.05) by $0.04. The firm had revenue of $44.10 million for the quarter, compared to the consensus estimate of $44.11 million. MINDBODY had a negative return on equity of 12.49% and a negative net margin of 11.34%. The business’s revenue was up 31.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.10) earnings per share. On average, equities research analysts predict that MINDBODY, Inc. will post ($0.09) earnings per share for the current year.
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A number of research analysts have recently commented on the company. UBS AG reissued a “buy” rating and set a $32.00 price objective (up previously from $30.00) on shares of MINDBODY in a report on Wednesday, June 14th. Credit Suisse Group increased their price objective on MINDBODY from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, May 5th. BidaskClub lowered MINDBODY from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 1st. Morgan Stanley increased their price objective on MINDBODY from $27.00 to $29.00 and gave the company an “equal weight” rating in a report on Monday, May 15th. Finally, Pacific Crest lowered MINDBODY from an “overweight” rating to a “sector weight” rating in a report on Monday, May 15th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $29.55.
In other MINDBODY news, insider Bradford Lee Wills sold 1,043 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $28.08, for a total transaction of $29,287.44. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Luxor Capital Group, Lp purchased 257,500 shares of the stock in a transaction on Thursday, May 25th. The shares were acquired at an average cost of $27.95 per share, for a total transaction of $7,197,125.00. The disclosure for this purchase can be found here. In the last three months, insiders have sold 69,980 shares of company stock worth $1,855,997. Company insiders own 8.22% 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 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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