California Public Employees Retirement System acquired a new stake in MINDBODY Inc (NASDAQ:MB) during the second quarter, according to its most recent filing with the SEC. The firm acquired 8,112 shares of the technology company’s stock, valued at approximately $313,000.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Nwam LLC bought a new position in shares of MINDBODY in the 2nd quarter worth $205,000. Xact Kapitalforvaltning AB bought a new position in shares of MINDBODY in the 1st quarter worth $223,000. Raymond James Financial Services Advisors Inc. bought a new position in shares of MINDBODY in the 2nd quarter worth $265,000. Sei Investments Co. boosted its position in shares of MINDBODY by 110.0% in the 2nd quarter. Sei Investments Co. now owns 7,743 shares of the technology company’s stock worth $299,000 after purchasing an additional 4,055 shares during the last quarter. Finally, ProVise Management Group LLC bought a new position in shares of MINDBODY in the 2nd quarter worth $357,000.

MB opened at $25.48 on Thursday. MINDBODY Inc has a 1 year low of $24.75 and a 1 year high of $45.50. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of -84.93 and a beta of 0.35. The company has a debt-to-equity ratio of 0.89, a quick ratio of 9.45 and a current ratio of 9.45.

MINDBODY (NASDAQ:MB) last released its quarterly earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.02. MINDBODY had a negative return on equity of 9.15% and a negative net margin of 16.91%. The firm had revenue of $63.80 million for the quarter, compared to the consensus estimate of $63.99 million. During the same quarter last year, the business posted $0.01 EPS. The company’s revenue for the quarter was up 36.9% on a year-over-year basis. On average, analysts expect that MINDBODY Inc will post -0.65 EPS for the current fiscal year.

Several analysts recently commented on the company. BidaskClub downgraded MINDBODY from a “buy” rating to a “hold” rating in a research note on Thursday, November 8th. Imperial Capital dropped their price objective on MINDBODY from $42.00 to $36.00 and set an “outperform” rating on the stock in a research note on Thursday, November 8th. TheStreet downgraded MINDBODY from a “c-” rating to a “d+” rating in a research note on Wednesday, November 7th. ValuEngine downgraded MINDBODY from a “buy” rating to a “hold” rating in a research note on Wednesday, November 7th. Finally, JPMorgan Chase & Co. downgraded MINDBODY from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $48.00 to $31.00 in a research note on Wednesday, November 7th. Ten investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $33.70.

In related news, CEO Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $40.59, for a total value of $720,026.01. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Kimberly Gail Lytikainen sold 9,437 shares of MINDBODY stock in a transaction dated Friday, September 7th. The shares were sold at an average price of $38.55, for a total value of $363,796.35. The disclosure for this sale can be found here. Insiders sold a total of 127,809 shares of company stock worth $4,430,896 in the last three months. Company insiders own 6.02% of the company’s stock.

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About MINDBODY

MINDBODY, Inc operates a cloud-based business management software and payments platform for the small and medium-sized businesses in the wellness services industry. Its platform enables businesses to run, market, and build scheduling and online booking, performance tracking, staff management, client relationship management, integrated payment processing, retail point-of-sale, purchase tracking, inventory, hardware integration, analytics and reporting, branded Web, mobility, social integration, client acquisition dashboard, security and compliance, and integration with other cloud-based partners for yoga, Pilates, indoor cycling, group and personal training, boutique fitness, salons, spas, and integrative health businesses.

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Institutional Ownership by Quarter for MINDBODY (NASDAQ:MB)

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