California State Teachers Retirement System raised its position in shares of Mindbody Inc. (NASDAQ:MB) by 97.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 30,207 shares of the company’s stock after buying an additional 14,899 shares during the period. California State Teachers Retirement System owned about 0.08% of Mindbody worth $488,000 at the end of the most recent reporting period.
Several other hedge funds have also bought and sold shares of the stock. Bank of New York Mellon Corp boosted its position in shares of Mindbody by 198.0% in the second quarter. Bank of New York Mellon Corp now owns 80,389 shares of the company’s stock valued at $1,298,000 after buying an additional 53,412 shares in the last quarter. Strs Ohio purchased a new position in shares of Mindbody during the second quarter valued at about $167,000. Hamilton Lane Advisors LLC purchased a new position in shares of Mindbody during the second quarter valued at about $2,235,000. Granahan Investment Management Inc. MA boosted its position in shares of Mindbody by 11.4% in the first quarter. Granahan Investment Management Inc. MA now owns 626,958 shares of the company’s stock valued at $8,357,000 after buying an additional 64,238 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 38.49% of the company’s stock.
Mindbody Inc. (NASDAQ:MB) traded down 4.08% during midday trading on Monday, reaching $19.04. The company’s stock had a trading volume of 380,238 shares. Mindbody Inc. has a 12 month low of $9.20 and a 12 month high of $20.83. The firm’s market capitalization is $756.36 million. The stock’s 50-day moving average price is $18.01 and its 200-day moving average price is $15.78.
Mindbody (NASDAQ:MB) last released its quarterly earnings data on Wednesday, July 27th. The company reported ($0.10) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.04. The business earned $33.60 million during the quarter, compared to analyst estimates of $33.22 million. Mindbody had a negative return on equity of 30.95% and a negative net margin of 27.12%. The company’s revenue was up 35.5% compared to the same quarter last year. During the same period last year, the company posted ($0.21) EPS. Analysts predict that Mindbody Inc. will post ($0.44) EPS for the current year.
MB has been the subject of a number of analyst reports. JMP Securities boosted their price target on Mindbody from $19.00 to $25.00 and gave the stock a “market outperform” rating in a report on Thursday, July 28th. Credit Suisse Group AG reissued a “buy” rating on shares of Mindbody in a report on Thursday, June 16th. Zacks Investment Research lowered Mindbody from a “buy” rating to a “hold” rating in a research note on Wednesday, July 6th. Morgan Stanley upped their target price on Mindbody from $17.00 to $20.00 and gave the company an “equal weight” rating in a research note on Thursday, July 28th. Finally, Pacific Crest reiterated a “buy” rating and issued a $22.00 target price (up from $20.00) on shares of Mindbody in a research note on Tuesday, September 13th. One equities research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. Mindbody presently has a consensus rating of “Buy” and a consensus price target of $22.07.
In other news, Director Bessemer Venture Partners Vii sold 800,000 shares of the stock in a transaction on Friday, August 5th. The stock was sold at an average price of $17.63, for a total value of $14,104,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Bradford Lee Wills sold 18,749 shares of the stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $17.92, for a total value of $335,982.08. The disclosure for this sale can be found here. Insiders own 30.62% 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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