Other equities research analysts also recently issued reports about the stock. Imperial Capital raised their target price on shares of MINDBODY from $35.00 to $42.00 and gave the company an outperform rating in a research note on Friday, February 23rd. Morgan Stanley restated an equal weight rating and issued a $39.00 target price (up from $37.00) on shares of MINDBODY in a research note on Thursday, February 22nd. BidaskClub upgraded shares of MINDBODY from a buy rating to a strong-buy rating in a research note on Wednesday. Credit Suisse Group restated an outperform rating and issued a $36.00 target price (up from $33.00) on shares of MINDBODY in a research note on Thursday, February 22nd. Finally, UBS Group restated a buy rating and issued a $40.00 target price (up from $34.00) on shares of MINDBODY in a research note on Thursday, November 9th. Two equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. MINDBODY currently has a consensus rating of Buy and an average price target of $36.38.
Shares of MINDBODY (NASDAQ:MB) traded up $0.25 during mid-day trading on Wednesday, reaching $39.50. 533,589 shares of the company traded hands, compared to its average volume of 422,811. The company has a debt-to-equity ratio of 0.06, a quick ratio of 8.66 and a current ratio of 8.66. MINDBODY has a 12 month low of $21.57 and a 12 month high of $39.80.
In other MINDBODY news, insider Kunal Mittal sold 12,359 shares of MINDBODY stock in a transaction on Monday, February 26th. The shares were sold at an average price of $36.67, for a total value of $453,204.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Luxor Capital Group, Lp acquired 43,000 shares of the business’s stock in a transaction on Monday, February 12th. The stock was purchased at an average cost of $31.36 per share, with a total value of $1,348,480.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 234,777 shares of company stock valued at $8,298,316 and sold 138,028 shares valued at $4,883,605. 8.22% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Luxor Capital Group LP boosted its holdings in MINDBODY by 8.7% in the 4th quarter. Luxor Capital Group LP now owns 6,220,410 shares of the technology company’s stock valued at $189,411,000 after purchasing an additional 498,724 shares during the last quarter. State Street Corp lifted its holdings in shares of MINDBODY by 151.3% in the 2nd quarter. State Street Corp now owns 620,907 shares of the technology company’s stock worth $16,885,000 after acquiring an additional 373,828 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of MINDBODY by 90.9% in the 4th quarter. Millennium Management LLC now owns 728,570 shares of the technology company’s stock worth $22,185,000 after acquiring an additional 346,862 shares during the last quarter. Fuller & Thaler Asset Management Inc. acquired a new position in shares of MINDBODY in the 4th quarter worth approximately $8,662,000. Finally, Victory Capital Management Inc. lifted its holdings in shares of MINDBODY by 19.7% in the 4th quarter. Victory Capital Management Inc. now owns 1,725,271 shares of the technology company’s stock worth $52,535,000 after acquiring an additional 283,575 shares during the last quarter. Hedge funds and other institutional investors own 89.49% of the company’s stock.
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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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