MINDBODY, Inc. (MB) Insider Kunal Mittal Sells 10,000 Shares of Stock
MINDBODY, Inc. (NASDAQ:MB) insider Kunal Mittal sold 10,000 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $35.00, for a total value of $350,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
Kunal Mittal also recently made the following trade(s):
- On Friday, October 27th, Kunal Mittal sold 5,000 shares of MINDBODY stock. The stock was sold at an average price of $30.00, for a total value of $150,000.00.
MINDBODY, Inc. (NASDAQ MB) traded down $1.55 during trading on Wednesday, hitting $34.45. The company’s stock had a trading volume of 901,400 shares, compared to its average volume of 430,688. MINDBODY, Inc. has a 52-week low of $19.50 and a 52-week high of $36.25. The company has a current ratio of 9.20, a quick ratio of 9.20 and a debt-to-equity ratio of 0.06.
MINDBODY (NASDAQ:MB) last posted its quarterly earnings results on Thursday, October 26th. The technology company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.05. The firm had revenue of $46.60 million for the quarter, compared to analysts’ expectations of $45.59 million. MINDBODY had a negative return on equity of 8.39% and a negative net margin of 9.26%. The company’s revenue for the quarter was up 32.0% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.09) EPS. sell-side analysts forecast that MINDBODY, Inc. will post -0.31 EPS for the current year.
Several institutional investors have recently bought and sold shares of the business. California Public Employees Retirement System grew its stake in shares of MINDBODY by 26.3% during the 3rd quarter. California Public Employees Retirement System now owns 16,926 shares of the technology company’s stock worth $438,000 after acquiring an additional 3,526 shares during the period. Davidson Kempner Capital Management LP bought a new position in MINDBODY in the 3rd quarter worth about $4,575,000. Granahan Investment Management Inc. MA boosted its stake in MINDBODY by 13.3% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 446,766 shares of the technology company’s stock worth $11,549,000 after purchasing an additional 52,521 shares during the period. Granite Point Capital Management L.P. boosted its stake in MINDBODY by 5.6% in the 3rd quarter. Granite Point Capital Management L.P. now owns 112,200 shares of the technology company’s stock worth $2,900,000 after purchasing an additional 5,900 shares during the period. Finally, Allianz Asset Management GmbH raised its holdings in shares of MINDBODY by 7.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 199,077 shares of the technology company’s stock valued at $5,146,000 after acquiring an additional 14,250 shares in the last quarter. Hedge funds and other institutional investors own 90.15% of the company’s stock.
Several analysts have recently weighed in on MB shares. KeyCorp upgraded MINDBODY from a “sector weight” rating to an “overweight” rating and boosted their price target for the stock from $16.95 to $32.00 in a report on Friday, September 22nd. Jefferies Group started coverage on MINDBODY in a report on Thursday, August 24th. They set a “hold” rating and a $26.00 price target on the stock. DA Davidson started coverage on MINDBODY in a report on Wednesday, November 15th. They set a “buy” rating and a $42.00 price target on the stock. Zacks Investment Research cut MINDBODY from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, UBS restated a “buy” rating and set a $40.00 price target (up from $34.00) on shares of MINDBODY in a report on Thursday, November 9th. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $32.54.
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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