MINDBODY, Inc. (MB) Insider Kunal Mittal Sells 5,000 Shares

MINDBODY, Inc. (NASDAQ:MB) insider Kunal Mittal sold 5,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $30.00, for a total value of $150,000.00. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

MINDBODY, Inc. (MB) traded down 0.92% during mid-day trading on Tuesday, hitting $32.25. The stock had a trading volume of 781,433 shares. MINDBODY, Inc. has a 1-year low of $19.00 and a 1-year high of $34.11. The stock has a 50 day moving average of $27.17 and a 200-day moving average of $27.17. The firm’s market cap is $1.49 billion.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.01 EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.05. The firm had revenue of $46.60 million for the quarter, compared to analyst estimates of $45.59 million. MINDBODY had a negative return on equity of 9.70% and a negative net margin of 9.26%. The business’s quarterly revenue was up 32.0% compared to the same quarter last year. During the same period last year, the company earned ($0.09) EPS. Analysts predict that MINDBODY, Inc. will post ($0.02) EPS for the current fiscal year.

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A number of institutional investors and hedge funds have recently made changes to their positions in MB. Victory Capital Management Inc. bought a new position in shares of MINDBODY in the 2nd quarter worth $37,529,000. Federated Investors Inc. PA boosted its position in shares of MINDBODY by 112.3% in the 2nd quarter. Federated Investors Inc. PA now owns 401,845 shares of the technology company’s stock worth $10,930,000 after purchasing an additional 212,537 shares during the last quarter. Bank of America Corp DE boosted its position in shares of MINDBODY by 5.2% in the 1st quarter. Bank of America Corp DE now owns 35,657 shares of the technology company’s stock worth $979,000 after purchasing an additional 1,762 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of MINDBODY by 19.4% in the 1st quarter. Vanguard Group Inc. now owns 904,161 shares of the technology company’s stock worth $24,820,000 after purchasing an additional 146,816 shares during the last quarter. Finally, State of Wisconsin Investment Board bought a new position in shares of MINDBODY in the 2nd quarter worth $6,664,000. Hedge funds and other institutional investors own 84.67% of the company’s stock.

A number of research analysts have issued reports on MB shares. Zacks Investment Research upgraded 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. KeyCorp reiterated a “buy” rating and set a $32.00 price target on shares of MINDBODY in a research report on Sunday, October 22nd. Craig Hallum reissued a “buy” rating and issued a $30.00 price objective on shares of MINDBODY in a research note on Monday, September 25th. Jefferies Group LLC initiated coverage on MINDBODY in a research note on Thursday, August 24th. They issued a “hold” rating and a $26.00 price objective on the stock. Finally, BidaskClub downgraded MINDBODY from a “buy” rating to a “hold” rating in a research note on Monday, July 31st. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. MINDBODY currently has an average rating of “Buy” and a consensus target price of $30.95.

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 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.

Insider Buying and Selling by Quarter for MINDBODY (NASDAQ:MB)

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