Capital Research Global Investors Cuts Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Capital Research Global Investors decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 61.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 552,540 shares of the company's stock after selling 881,000 shares during the quarter. Capital Research Global Investors owned approximately 0.74% of MongoDB worth $128,638,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Norges Bank bought a new position in MongoDB in the fourth quarter worth about $189,584,000. Marshall Wace LLP bought a new position in shares of MongoDB during the 4th quarter worth approximately $110,356,000. Raymond James Financial Inc. bought a new position in shares of MongoDB during the 4th quarter worth approximately $90,478,000. Amundi lifted its position in MongoDB by 86.2% during the fourth quarter. Amundi now owns 693,740 shares of the company's stock valued at $172,519,000 after acquiring an additional 321,186 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock valued at $69,119,000 after acquiring an additional 294,228 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 301 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now owns 14,598 shares of the company's stock, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of the business's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. This trade represents a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,680 shares of company stock valued at $10,819,027 in the last 90 days. Company insiders own 3.60% of the company's stock.

MongoDB Stock Up 0.2 %

MDB traded up $0.29 during trading on Friday, reaching $173.50. The company's stock had a trading volume of 2,105,392 shares, compared to its average volume of 1,840,261. The firm has a fifty day simple moving average of $195.15 and a two-hundred day simple moving average of $249.13. The company has a market cap of $14.09 billion, a price-to-earnings ratio of -63.32 and a beta of 1.49. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the firm posted $0.86 EPS. As a group, equities analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have recently commented on the company. Daiwa America upgraded MongoDB to a "strong-buy" rating in a report on Tuesday, April 1st. UBS Group set a $350.00 price target on MongoDB in a research note on Tuesday, March 4th. Truist Financial cut their price target on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Barclays cut their target price on MongoDB from $330.00 to $280.00 and set an "overweight" rating on the stock in a research report on Thursday, March 6th. Finally, Stifel Nicolaus dropped their price target on MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus target price of $294.78.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.