Insider Selling: MINDBODY, Inc. (MB) CEO Sells 17,739 Shares of Stock
MINDBODY, Inc. (NASDAQ:MB) CEO Richard Lee Stollmeyer sold 17,739 shares of the business’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $26.54, for a total transaction of $470,793.06. The sale was disclosed in a filing with the SEC, which is available through the SEC website.
Richard Lee Stollmeyer also recently made the following trade(s):
- On Friday, September 1st, Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock. The stock was sold at an average price of $23.71, for a total value of $420,591.69.
- On Tuesday, August 1st, Richard Lee Stollmeyer sold 17,739 shares of MINDBODY stock. The stock was sold at an average price of $25.13, for a total value of $445,781.07.
Shares of MINDBODY, Inc. (NASDAQ MB) traded up 3.13% during midday trading on Tuesday, hitting $28.00. The company had a trading volume of 842,165 shares. MINDBODY, Inc. has a 1-year low of $16.95 and a 1-year high of $28.30. The firm’s market capitalization is $1.30 billion. The stock has a 50 day moving average price of $25.55 and a 200 day moving average price of $25.55.
MINDBODY (NASDAQ:MB) last issued its earnings results on Wednesday, July 26th. The technology company reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.05) by $0.04. MINDBODY had a negative net margin of 11.34% and a negative return on equity of 12.49%. The company had revenue of $44.10 million during the quarter, compared to the consensus estimate of $44.11 million. During the same quarter in the prior year, the firm posted ($0.10) EPS. MINDBODY’s quarterly revenue was up 31.3% compared to the same quarter last year. On average, equities analysts anticipate that MINDBODY, Inc. will post ($0.09) EPS for the current fiscal year.
Several institutional investors have recently made changes to their positions in MB. FMR LLC boosted its stake in shares of 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 acquiring an additional 2,609,059 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of MINDBODY during the second quarter worth about $37,529,000. JPMorgan Chase & Co. grew its position in shares of MINDBODY by 439.4% during the first quarter. JPMorgan Chase & Co. now owns 1,225,145 shares of the technology company’s stock worth $33,630,000 after purchasing an additional 998,004 shares in the last quarter. Vanguard Group Inc. grew its position in shares of MINDBODY by 67.2% during the second quarter. Vanguard Group Inc. now owns 1,511,343 shares of the technology company’s stock worth $41,109,000 after purchasing an additional 607,182 shares in the last quarter. Finally, State Street Corp grew its position in shares of MINDBODY by 151.3% during the second quarter. State Street Corp now owns 620,907 shares of the technology company’s stock worth $16,885,000 after purchasing an additional 373,828 shares in the last quarter. Institutional investors and hedge funds own 92.75% of the company’s stock.
Several brokerages have recently weighed in on MB. UBS AG reiterated a “buy” rating and issued a $32.00 price target (up from $30.00) on shares of MINDBODY in a research report on Wednesday, June 14th. BidaskClub upgraded MINDBODY from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Roth Capital reissued a “buy” rating and set a $31.50 price objective on shares of MINDBODY in a report on Thursday, September 28th. Zacks Investment Research raised MINDBODY from a “hold” rating to a “buy” rating and set a $29.00 price objective on the stock in a report on Wednesday, September 27th. Finally, Craig Hallum restated a “buy” rating and issued a $30.00 target price on shares of MINDBODY in a research note on Monday, September 25th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $30.95.
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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