Capital Research Global Investors Sells 6,160 Shares of MongoDB, Inc. $MDB

Capital Research Global Investors lowered its stake in MongoDB, Inc. (NASDAQ:MDB) by 7.1% during the third quarter, Holdings Channel.com reports. The fund owned 80,010 shares of the company’s stock after selling 6,160 shares during the period. Capital Research Global Investors’ holdings in MongoDB were worth $24,834,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in shares of MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after purchasing an additional 327 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in shares of MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after buying an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of MongoDB in the second quarter valued at $329,000. Savant Capital LLC acquired a new position in MongoDB during the second quarter worth $359,000. Finally, Metis Global Partners LLC increased its holdings in MongoDB by 23.0% during the second quarter. Metis Global Partners LLC now owns 3,225 shares of the company’s stock worth $677,000 after buying an additional 604 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the transaction, the director directly owned 1,031,316 shares in the company, valued at approximately $420,467,533.20. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total transaction of $660,617.10. Following the transaction, the director directly owned 25,659 shares in the company, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,949 shares of company stock worth $8,981,630 in the last quarter. Company insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Macquarie Infrastructure increased their price target on shares of MongoDB from $305.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. Robert W. Baird reiterated a “neutral” rating and set a $260.00 price target (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. Argus upped their price objective on MongoDB from $340.00 to $488.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Cantor Fitzgerald reduced their target price on MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Finally, Citizens Jmp increased their price target on MongoDB from $435.00 to $475.00 and gave the company a “market outperform” rating 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 assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $354.18.

MongoDB Trading Down 3.7%

MongoDB stock opened at $260.68 on Friday. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $444.72. The stock’s 50 day moving average is $356.86 and its 200-day moving average is $352.44. The company has a market capitalization of $21.22 billion, a price-to-earnings ratio of -296.23 and a beta of 1.40.

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