JPMorgan Chase & Co. Has $10,191,000 Position in Mindbody Inc. (MB)
JPMorgan Chase & Co. lowered its position in shares of Mindbody Inc. (NASDAQ:MB) by 0.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 631,475 shares of the company’s stock after selling 5,956 shares during the period. JPMorgan Chase & Co. owned 1.59% of Mindbody worth $10,191,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Strs Ohio acquired a new position in shares of Mindbody during the second quarter worth $167,000. Airain ltd purchased a new stake in shares of Mindbody during the second quarter valued at $223,000. Emerald Acquisition Ltd. purchased a new stake in shares of Mindbody during the second quarter valued at $243,000. California State Teachers Retirement System increased its stake in shares of Mindbody by 97.3% in the second quarter. California State Teachers Retirement System now owns 30,207 shares of the company’s stock valued at $488,000 after buying an additional 14,899 shares during the period. Finally, Geode Capital Management LLC increased its stake 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 during the period. 38.49% of the stock is owned by institutional investors and hedge funds.
Shares of Mindbody Inc. (NASDAQ:MB) traded up 3.23% on Wednesday, hitting $20.48. 523,563 shares of the stock traded hands. The stock has a 50 day moving average of $17.77 and a 200 day moving average of $15.68. Mindbody Inc. has a one year low of $9.20 and a one year high of $20.83. The company’s market cap is $813.57 million.
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 Zacks’ consensus estimate of ($0.14) by $0.04. The firm 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%. The business’s quarterly revenue was up 35.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.21) earnings per share. Equities analysts anticipate that Mindbody Inc. will post ($0.44) earnings per share for the current year.
MB has been the subject of several analyst reports. Pacific Crest reissued a “buy” rating and set a $22.00 price target (up previously from $20.00) on shares of Mindbody in a research report on Tuesday, September 13th. Roth Capital initiated coverage on shares of Mindbody in a research report on Friday, September 23rd. They issued a “buy” rating and a $22.50 target price for the company. Zacks Investment Research raised shares of Mindbody from a “hold” rating to a “buy” rating and set a $21.00 target price for the company in a research report on Wednesday, September 28th. KeyCorp lifted their target price on shares of Mindbody from $20.00 to $22.00 and gave the stock an “overweight” rating in a research report on Tuesday, September 13th. Finally, Credit Suisse Group AG reaffirmed a “buy” rating on shares of Mindbody in a research report on Thursday, June 16th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $22.07.
In related news, CEO Richard Lee Stollmeyer sold 21,760 shares of the stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $19.44, for a total transaction of $423,014.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 transaction of $14,104,000.00. The disclosure for this sale can be found here. Corporate insiders own 30.62% 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 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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