Summit Partners Public Asset Management LLC Has $3.40 Million Position in MINDBODY, Inc. (MB)
Summit Partners Public Asset Management LLC lowered its position in shares of MINDBODY, Inc. (NASDAQ:MB) by 28.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 125,000 shares of the technology company’s stock after selling 50,000 shares during the period. Summit Partners Public Asset Management LLC owned 0.30% of MINDBODY worth $3,400,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of MB. Teachers Advisors LLC grew its stake in shares of MINDBODY by 4.8% during the fourth quarter. Teachers Advisors LLC now owns 24,524 shares of the technology company’s stock worth $522,000 after purchasing an additional 1,132 shares in the last quarter. Wells Fargo & Company MN lifted its position in MINDBODY by 9.4% in the first quarter. Wells Fargo & Company MN now owns 81,124 shares of the technology company’s stock valued at $2,228,000 after acquiring an additional 6,961 shares during the last quarter. Bank of New York Mellon Corp lifted its position in MINDBODY by 5.5% in the first quarter. Bank of New York Mellon Corp now owns 140,570 shares of the technology company’s stock valued at $3,858,000 after acquiring an additional 7,292 shares during the last quarter. Swiss National Bank lifted its position in MINDBODY by 52.1% in the first quarter. Swiss National Bank now owns 22,200 shares of the technology company’s stock valued at $609,000 after acquiring an additional 7,600 shares during the last quarter. Finally, Parametric Portfolio Associates LLC lifted its position in MINDBODY by 102.8% in the first quarter. Parametric Portfolio Associates LLC now owns 43,895 shares of the technology company’s stock valued at $1,205,000 after acquiring an additional 22,251 shares during the last quarter. Hedge funds and other institutional investors own 92.75% of the company’s stock.
Shares of MINDBODY, Inc. (MB) traded up 2.080% during midday trading on Friday, hitting $28.225. 147,434 shares of the stock were exchanged. The company’s market cap is $1.31 billion. The firm has a 50-day moving average price of $25.77 and a 200-day moving average price of $25.77. MINDBODY, Inc. has a 12-month low of $16.95 and a 12-month high of $28.30.
MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported ($0.01) EPS for the quarter, beating 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 business had revenue of $44.10 million during the quarter, compared to analyst estimates of $44.11 million. During the same period in the previous year, the business posted ($0.10) EPS. The company’s quarterly revenue was up 31.3% on a year-over-year basis. On average, equities analysts predict that MINDBODY, Inc. will post ($0.09) EPS for the current year.
A number of brokerages recently weighed in on MB. Roth Capital reissued a “buy” rating and issued a $31.50 price target on shares of MINDBODY in a research report on Thursday, September 28th. Zacks Investment Research raised shares of MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research report on Wednesday, September 27th. BidaskClub raised shares of MINDBODY from a “hold” rating to a “buy” rating in a research report on Tuesday, September 26th. Craig Hallum reissued a “buy” rating and issued a $30.00 price target on shares of MINDBODY in a research report on Monday, September 25th. Finally, KeyCorp raised shares of MINDBODY from a “sector weight” rating to an “overweight” rating and boosted their price target for the company from $16.95 to $32.00 in a research report on Friday, September 22nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $30.95.
In related news, CFO Brett T. White sold 10,000 shares of MINDBODY stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $25.87, for a total value of $258,700.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Luxor Capital Group, Lp acquired 341,079 shares of the business’s stock in a transaction that occurred on Thursday, October 5th. The stock was purchased at an average price of $27.95 per share, for a total transaction of $9,533,158.05. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 872,572 shares of company stock valued at $22,952,675 and sold 83,217 shares valued at $2,101,466. 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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