MINDBODY Inc (MB) Stake Decreased by Primecap Management Co. CA

Primecap Management Co. CA cut its position in shares of MINDBODY Inc (NASDAQ:MB) by 12.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 435,577 shares of the technology company’s stock after selling 60,800 shares during the quarter. Primecap Management Co. CA owned about 0.91% of MINDBODY worth $17,706,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Baillie Gifford & Co. lifted its position in shares of MINDBODY by 21.1% during the third quarter. Baillie Gifford & Co. now owns 560,032 shares of the technology company’s stock valued at $22,765,000 after purchasing an additional 97,695 shares in the last quarter. United Services Automobile Association bought a new position in shares of MINDBODY during the third quarter valued at about $868,000. Dimensional Fund Advisors LP bought a new position in shares of MINDBODY during the third quarter valued at about $5,894,000. D.A. Davidson & CO. bought a new position in shares of MINDBODY during the third quarter valued at about $201,000. Finally, Trexquant Investment LP bought a new position in shares of MINDBODY during the third quarter valued at about $408,000.

MB has been the topic of several research reports. Zacks Investment Research raised shares of MINDBODY from a “sell” rating to a “hold” rating in a research report on Thursday, November 29th. ValuEngine raised shares of MINDBODY from a “hold” rating to a “buy” rating in a research report on Wednesday, November 28th. BidaskClub raised shares of MINDBODY from a “hold” rating to a “buy” rating in a research report on Tuesday, November 27th. TheStreet lowered shares of MINDBODY from a “c-” rating to a “d+” rating in a research report on Wednesday, November 7th. Finally, Morgan Stanley set a $30.00 price objective on shares of MINDBODY and gave the stock a “hold” rating in a research report on Thursday, November 8th. Eight research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $33.70.

In other news, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $720,026.01. The disclosure for this sale can be found here. Insiders sold 123,463 shares of company stock valued at $4,276,648 in the last quarter. Corporate insiders own 6.02% of the company’s stock.

Shares of MB stock opened at $28.03 on Tuesday. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -93.43 and a beta of 0.32. 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 Inc has a 52 week low of $23.02 and a 52 week high of $45.50.

MINDBODY (NASDAQ:MB) last posted its earnings results on Tuesday, November 6th. The technology company reported ($0.05) earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.02. The firm had revenue of $63.80 million during the quarter, compared to the consensus estimate of $63.99 million. MINDBODY had a negative net margin of 16.91% and a negative return on equity of 9.15%. The company’s revenue was up 36.9% on a year-over-year basis. During the same quarter last year, the company earned $0.01 earnings per share. Research analysts predict that MINDBODY Inc will post -0.67 earnings per share for the current year.

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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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