DF Dent & Co. Inc. Takes Position in MINDBODY Inc (MB)

DF Dent & Co. Inc. acquired a new stake in shares of MINDBODY Inc (NASDAQ:MB) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,391 shares of the technology company’s stock, valued at approximately $826,000.

A number of other hedge funds also recently modified their holdings of the business. Arrowgrass Capital Partners US LP purchased a new stake in MINDBODY during the second quarter valued at approximately $4,439,000. Aristeia Capital LLC bought a new position in shares of MINDBODY during the second quarter valued at approximately $2,885,000. Institutional Venture Management XIII LLC grew its stake in shares of MINDBODY by 0.5% during the second quarter. Institutional Venture Management XIII LLC now owns 2,655,365 shares of the technology company’s stock valued at $102,497,000 after buying an additional 13,333 shares during the last quarter. Bank of America Corp DE grew its stake in shares of MINDBODY by 42.6% during the second quarter. Bank of America Corp DE now owns 184,226 shares of the technology company’s stock valued at $7,112,000 after buying an additional 55,068 shares during the last quarter. Finally, Voya Investment Management LLC grew its stake in shares of MINDBODY by 3,432.0% during the second quarter. Voya Investment Management LLC now owns 595,206 shares of the technology company’s stock valued at $22,975,000 after buying an additional 578,354 shares during the last quarter. Institutional investors and hedge funds own 96.82% of the company’s stock.

In other MINDBODY news, CEO Richard Lee Stollmeyer sold 17,739 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $40.59, for a total transaction of $720,026.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Michael Joseph Mansbach sold 3,705 shares of the stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $35.25, for a total value of $130,601.25. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 66,055 shares of company stock valued at $2,473,395. 6.02% of the stock is owned by company insiders.

Shares of NASDAQ:MB opened at $38.05 on Tuesday. MINDBODY Inc has a 52-week low of $27.60 and a 52-week high of $45.50. The company has a market capitalization of $1.94 billion, a P/E ratio of -126.83 and a beta of -0.20. The company has a current ratio of 9.61, a quick ratio of 9.61 and a debt-to-equity ratio of 0.86.

MINDBODY (NASDAQ:MB) last announced its quarterly earnings data on Tuesday, July 31st. The technology company reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.18) by ($0.04). The firm had revenue of $61.61 million during the quarter, compared to the consensus estimate of $60.48 million. MINDBODY had a negative return on equity of 6.83% and a negative net margin of 11.85%. As a group, equities research analysts predict that MINDBODY Inc will post -0.63 earnings per share for the current fiscal year.

MB has been the topic of a number of analyst reports. Credit Suisse Group cut their target price on MINDBODY from $41.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, August 1st. Wells Fargo & Co initiated coverage on MINDBODY in a research note on Friday, September 7th. They set an “outperform” rating and a $45.00 target price on the stock. DA Davidson upped their target price on MINDBODY to $48.00 and gave the company a “buy” rating in a research note on Wednesday, September 19th. BidaskClub raised MINDBODY from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, September 11th. Finally, Morgan Stanley cut their target price on MINDBODY from $42.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 1st. Five research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the stock. MINDBODY has an average rating of “Buy” and an average price target of $40.20.

MINDBODY Company Profile

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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