Victory Capital Management Inc. Boosts Position in MINDBODY Inc (MB)

Victory Capital Management Inc. boosted its position in shares of MINDBODY Inc (NASDAQ:MB) by 19.7% in the fourth quarter, Holdings Channel reports. The fund owned 1,725,271 shares of the technology company’s stock after purchasing an additional 283,575 shares during the quarter. Victory Capital Management Inc.’s holdings in MINDBODY were worth $52,535,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of MB. FMR LLC increased its position in MINDBODY by 481.5% in the second quarter. FMR LLC now owns 3,150,890 shares of the technology company’s stock worth $85,705,000 after buying an additional 2,609,059 shares in the last quarter. Vanguard Group Inc. increased its position in MINDBODY by 67.2% in the second quarter. Vanguard Group Inc. now owns 1,511,343 shares of the technology company’s stock worth $41,109,000 after buying an additional 607,182 shares in the last quarter. State Street Corp increased its position in MINDBODY by 151.3% in the second quarter. State Street Corp now owns 620,907 shares of the technology company’s stock worth $16,885,000 after buying an additional 373,828 shares in the last quarter. Jennison Associates LLC increased its position in MINDBODY by 3.2% in the third quarter. Jennison Associates LLC now owns 590,469 shares of the technology company’s stock worth $15,264,000 after buying an additional 18,411 shares in the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in MINDBODY by 13.3% in the third quarter. Granahan Investment Management Inc. MA now owns 446,766 shares of the technology company’s stock worth $11,549,000 after buying an additional 52,521 shares in the last quarter. Institutional investors own 90.28% of the company’s stock.

In related news, insider Kimberly Gail Lytikainen sold 36,868 shares of the stock in a transaction that occurred on Thursday, December 7th. The stock was sold at an average price of $30.11, for a total transaction of $1,110,095.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Kunal Mittal sold 10,000 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $35.00, for a total value of $350,000.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 92,348 shares of company stock valued at $2,883,809. Corporate insiders own 8.22% of the company’s stock.

A number of brokerages have commented on MB. Morgan Stanley upped their price target on MINDBODY from $34.00 to $37.00 and gave the stock an “equal weight” rating in a research report on Tuesday, January 30th. BidaskClub upgraded MINDBODY from a “hold” rating to a “buy” rating in a research report on Wednesday, January 24th. KeyCorp restated a “buy” rating and issued a $41.00 price target (up previously from $34.00) on shares of MINDBODY in a research report on Monday, January 22nd. UBS Group restated a “buy” rating and issued a $40.00 price target (up previously from $34.00) on shares of MINDBODY in a research report on Thursday, November 9th. Finally, Jefferies Group upgraded MINDBODY from a “hold” rating to a “buy” rating and set a $26.00 price target for the company in a research report on Monday, January 8th. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. MINDBODY currently has an average rating of “Buy” and an average target price of $33.96.

MINDBODY Inc (NASDAQ:MB) opened at $32.50 on Wednesday. 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 Inc has a one year low of $21.57 and a one year high of $36.25.

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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.

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Institutional Ownership by Quarter for MINDBODY (NASDAQ:MB)

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