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

Key Points

• Capital Research Global Investors reduced its stake in MongoDB by 7.1%, selling 6,160 shares and leaving it with 80,010 shares (about 0.10% of the company) valued at roughly $24.83 million.
• Several other institutions materially increased positions—examples include Cramer Rosenthal Mcglynn (+897.7%), Mirae Asset (+1,277.1%), Pacer (+209.0%) and Penserra (+42.1%)—and institutional ownership stands at 89.29%.
• MongoDB beat the latest quarter with EPS of $1.65 vs. $1.47 expected and revenue of $695.1M (up 26.8% y/y), but remains unprofitable (net margin -2.89%, negative ROE); market cap is $21.22B and analysts have trimmed targets though the consensus rating is a “Moderate Buy” with an average target of $354.18.

Capital Research Global Investors reduced its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 7.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 80,010 shares of the company's stock after selling 6,160 shares during the quarter. Capital Research Global Investors owned about 0.10% of MongoDB worth $24,834,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MDB. Cramer Rosenthal Mcglynn LLC raised its holdings 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 period. Mirae Asset Global Investments Co. Ltd. boosted its position 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 worth $5,655,000 after purchasing an additional 16,896 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of MongoDB by 209.0% in the 3rd quarter. Pacer Advisors Inc. now owns 4,549 shares of the company's stock valued at $1,412,000 after buying an additional 3,077 shares during the period. Penserra Capital Management LLC grew its holdings in shares of MongoDB by 42.1% in the 3rd quarter. Penserra Capital Management LLC now owns 135,036 shares of the company's stock valued at $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 in the 3rd quarter valued at $1,032,000. 89.29% of the stock is owned by institutional investors.

MongoDB Price Performance

MDB opened at $260.68 on Friday. The company has a market capitalization of $21.22 billion, a price-to-earnings ratio of -296.23 and a beta of 1.40. The business's 50-day moving average price is $356.86 and its two-hundred day moving average price is $352.44. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $444.72.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data 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 company 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%.MongoDB's revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.28 earnings per share. Sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total value of $660,617.10. Following the sale, the director directly owned 25,659 shares in the company, valued at $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 10,000 shares of the business's stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the completion of the sale, 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 position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,949 shares of company stock valued at $8,981,630. Insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Monness Crespi & Hardt dropped their price objective on MongoDB from $475.00 to $370.00 and set a "buy" rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada lowered their price target on MongoDB from $500.00 to $395.00 and set an "outperform" rating for the company in a report on Tuesday, March 3rd. Sanford C. Bernstein lowered MongoDB from an "outperform" rating to a "market perform" rating in a research report on Tuesday, March 3rd. Cantor Fitzgerald cut their price objective on MongoDB from $454.00 to $378.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Finally, Citigroup decreased their price objective on MongoDB from $435.00 to $400.00 and set a "buy" rating for the company in a research report 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 MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.

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