MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Bank Julius Baer & Co. Ltd Zurich

Bank Julius Baer & Co. Ltd Zurich cut its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 58.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,032 shares of the company's stock after selling 36,303 shares during the quarter. Bank Julius Baer & Co. Ltd Zurich's holdings in MongoDB were worth $4,724,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. OneDigital Investment Advisors LLC lifted its stake in shares of MongoDB by 3.9% during the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock worth $243,000 after purchasing an additional 39 shares in the last quarter. Handelsbanken Fonder AB raised its holdings in shares of MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after buying an additional 65 shares during the period. O Shaughnessy Asset Management LLC lifted its position in MongoDB by 4.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after acquiring an additional 75 shares in the last quarter. Fifth Third Bancorp lifted its position in MongoDB by 15.9% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company's stock worth $100,000 after acquiring an additional 78 shares in the last quarter. Finally, Arizona State Retirement System boosted its holdings in MongoDB by 0.4% in the 1st quarter. Arizona State Retirement System now owns 21,504 shares of the company's stock worth $3,772,000 after acquiring an additional 83 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the transaction, the director directly owned 1,107,006 shares of the company's stock, valued at $259,039,404. This represents a 0.18% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 25,005 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the sale, the chief executive officer owned 256,974 shares in the company, valued at approximately $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 33,746 shares of company stock worth $7,725,196. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDB. Monness Crespi & Hardt upgraded shares of MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price objective on the stock in a research note on Thursday, June 5th. DA Davidson reaffirmed a "buy" rating and set a $275.00 price target on shares of MongoDB in a report on Thursday, June 5th. Citigroup cut their price objective on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a report on Tuesday, April 1st. Piper Sandler upped their price objective on shares of MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Finally, Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price for the company in a research note on Thursday, April 17th. Nine investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $281.35.

MongoDB Price Performance

NASDAQ:MDB traded up $6.21 during midday trading on Friday, reaching $241.37. 3,587,641 shares of the company traded hands, compared to its average volume of 1,955,337. The firm has a market capitalization of $19.72 billion, a price-to-earnings ratio of -211.73 and a beta of 1.41. The company has a fifty day moving average price of $206.48 and a 200 day moving average price of $212.44. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The company had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the business posted $0.51 earnings per share. On average, equities research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB 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.