Abdiel Capital Advisors Lp buys $35.3 Million stake in MINDBODY Inc (MB)

MINDBODY Inc (MB) : Abdiel Capital Advisors Lp scooped up 450,942 additional shares in MINDBODY Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 12, 2016. The investment management firm now holds a total of 2,515,100 shares of MINDBODY Inc which is valued at $35.3 Million.MINDBODY Inc makes up approximately 17.14% of Abdiel Capital Advisors Lp’s portfolio.

Other Hedge Funds, Including , Mazama Capital Management Inc sold out all of its stake in MB during the most recent quarter. The investment firm sold 569 shares of MB which is valued $7,983.Manufacturers Life Insurance Company The boosted its stake in MB in the latest quarter, The investment management firm added 1,086 additional shares and now holds a total of 2,437 shares of MINDBODY Inc which is valued at $34,191.

MINDBODY Inc opened for trading at $13.55 and hit $13.65 on the upside on Friday, eventually ending the session at $13.58, with a gain of 0.37% or 0.05 points. The heightened volatility saw the trading volume jump to 1,46,802 shares. Company has a market cap of $235,192 M.

On the company’s financial health, MINDBODY Inc reported $-0.12 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on May 3, 2016. Analyst had a consensus of $-0.17. The company had revenue of $32.00 million for the quarter, compared to analysts expectations of $30.28 million. The company’s revenue was up 43.5% compared to the same quarter last year.

MINDBODY Inc. is a company that operates an online wellness services marketplace with over 42000 local business subscribers. Through its integrated cloud-based business management software and payments platform the Company enables businesses to manage class and appointment schedules staff members client information online bookings inventory payroll and retail sales. The Company also offers marketing and client retention capabilities to help businesses acquire and retain their clients and analytics capabilities to help them improve their businesses and plan for the future. It connects consumers with local businesses through its MINDBODY Connect platform which powers a mobile interface that allows consumers to discover evaluate book and pay for wellness services whether they are near their homes or traveling. Its Connect Workplace offering extends its platform to corporate employers. Its applications and add-ons include MINDBODY Express and Engage by MINDBODY Connect.

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