UBS Group AG cut its stake in shares of MINDBODY, Inc. (NASDAQ:MB) by 12.1% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 20,898 shares of the technology company’s stock after selling 2,878 shares during the period. UBS Group AG owned 0.05% of MINDBODY worth $573,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in MB. Boston Advisors LLC acquired a new stake in MINDBODY during the first quarter worth $778,000. Norges Bank acquired a new stake in MINDBODY during the fourth quarter worth $669,000. Macquarie Group Ltd. acquired a new stake in MINDBODY during the fourth quarter worth $2,026,000. Wells Fargo & Company MN boosted its stake in MINDBODY by 9.4% in the first quarter. Wells Fargo & Company MN now owns 81,124 shares of the technology company’s stock worth $2,228,000 after buying an additional 6,961 shares in the last quarter. Finally, RidgeWorth Capital Management LLC acquired a new stake in MINDBODY during the first quarter worth $376,000. Institutional investors and hedge funds own 71.49% of the company’s stock.
Shares of MINDBODY, Inc. (MB) opened at 23.60 on Friday. The firm’s market cap is $1.09 billion. The stock’s 50 day moving average price is $25.75 and its 200-day moving average price is $26.56. MINDBODY, Inc. has a 52-week low of $16.71 and a 52-week high of $29.75.
MINDBODY (NASDAQ:MB) last issued its earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.04. The business had revenue of $44.10 million for the quarter, compared to analyst estimates of $44.11 million. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. The company’s revenue for the quarter was up 31.3% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.10) EPS. On average, equities research analysts anticipate that MINDBODY, Inc. will post ($0.09) earnings per share for the current fiscal year.
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A number of analysts have weighed in on MB shares. JMP Securities restated an “outperform” rating and issued a $32.00 price target on shares of MINDBODY in a research note on Monday, April 17th. Pacific Crest cut MINDBODY from an “overweight” rating to a “sector weight” rating in a research note on Friday, May 5th. Morgan Stanley raised their price target on MINDBODY from $27.00 to $29.00 and gave the company an “equal weight” rating in a research note on Friday, May 5th. Credit Suisse Group raised their price target on MINDBODY from $27.00 to $31.00 and gave the company an “outperform” rating in a research note on Friday, May 5th. Finally, Zacks Investment Research cut MINDBODY from a “hold” rating to a “sell” rating in a research note on Wednesday, May 10th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $29.55.
In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Luxor Capital Group, Lp acquired 257,500 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were acquired at an average price 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 90 days, insiders sold 69,980 shares of company stock worth $1,855,997. Company insiders own 8.22% of the company’s stock.
MINDBODY Company Profile
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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