Swiss National Bank Lowers Stock Position in MongoDB, Inc. $MDB

Swiss National Bank cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 4.2% in the third quarter, HoldingsChannel reports. The fund owned 235,500 shares of the company’s stock after selling 10,200 shares during the period. Swiss National Bank’s holdings in MongoDB were worth $73,094,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDB. WINTON GROUP Ltd boosted its position in shares of MongoDB by 349.0% in the third quarter. WINTON GROUP Ltd now owns 17,197 shares of the company’s stock worth $5,338,000 after purchasing an additional 13,367 shares during the period. Schroder Investment Management Group raised its position in shares of MongoDB by 24.3% during the 3rd quarter. Schroder Investment Management Group now owns 8,123 shares of the company’s stock valued at $2,521,000 after purchasing an additional 1,588 shares during the period. Vinva Investment Management Ltd bought a new stake in shares of MongoDB during the 3rd quarter valued at $2,142,000. Meiji Yasuda Life Insurance Co lifted its stake in shares of MongoDB by 33.1% during the 3rd quarter. Meiji Yasuda Life Insurance Co now owns 3,344 shares of the company’s stock valued at $1,038,000 after buying an additional 831 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. boosted its holdings in MongoDB by 3.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock worth $342,000 after buying an additional 40 shares during the period. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 1,190 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the transaction, the director directly owned 80,462 shares of the company’s stock, valued at approximately $29,750,824.50. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the sale, the director owned 25,659 shares in the company, valued at $10,824,249.15. This represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 31,949 shares of company stock worth $13,159,930. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Needham & Company LLC cut their price target on MongoDB from $500.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Macquarie Infrastructure upped their price objective on MongoDB from $305.00 to $385.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. BMO Capital Markets reissued an “outperform” rating and set a $340.00 target price (down from $400.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Canaccord Genuity Group lowered their price target on MongoDB from $455.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Sanford C. Bernstein downgraded MongoDB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $354.18.

MongoDB Stock Up 0.0%

MDB opened at $270.57 on Thursday. The company has a market capitalization of $22.02 billion, a PE ratio of -307.47 and a beta of 1.40. The firm has a 50-day simple moving average of $360.04 and a two-hundred day simple moving average of $353.08. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same period in the previous year, the firm posted $1.28 earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year. As a group, sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.