EMC Capital Management Reduces Holdings in MongoDB, Inc. $MDB

EMC Capital Management decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 56.3% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,370 shares of the company’s stock after selling 3,050 shares during the period. MongoDB makes up about 0.3% of EMC Capital Management’s investment portfolio, making the stock its 16th largest position. EMC Capital Management’s holdings in MongoDB were worth $736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Cramer Rosenthal Mcglynn LLC lifted its stake in MongoDB by 897.7% in the third quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock worth $17,938,000 after purchasing an additional 52,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MongoDB by 1,277.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock valued at $5,655,000 after buying an additional 16,896 shares during the last quarter. Pacer Advisors Inc. raised its holdings in shares of MongoDB by 209.0% in the third quarter. Pacer Advisors Inc. now owns 4,549 shares of the company’s stock worth $1,412,000 after buying an additional 3,077 shares during the period. Penserra Capital Management LLC raised its holdings in shares of MongoDB by 42.1% in the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock worth $41,910,000 after buying an additional 39,978 shares during the period. Finally, Pinegrove Venture Partners LLC bought a new stake in shares of MongoDB during the 3rd quarter worth approximately $1,032,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 2.0%

Shares of NASDAQ MDB opened at $272.27 on Wednesday. The business has a fifty day simple moving average of $347.73 and a two-hundred day simple moving average of $353.45. The firm has a market cap of $22.16 billion, a PE ratio of -309.40 and a beta of 1.40. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $444.72.

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

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $369.75, for a total transaction of $440,002.50. Following the transaction, the director directly owned 80,462 shares in the company, valued at $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders have sold 19,383 shares of company stock valued at $7,910,983 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

MDB has been the subject of a number of recent analyst reports. Morgan Stanley boosted their price objective on MongoDB from $400.00 to $440.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. UBS Group decreased their target price on MongoDB from $440.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Needham & Company LLC lowered their target price on shares of MongoDB from $500.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of MongoDB in a report on Monday, December 29th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of MongoDB in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.18.

MongoDB Company 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.