MongoDB, Inc. $MDB Shares Sold by Diversified Trust Co

Key Points

• Diversified Trust Co has reduced its holdings in MongoDB, Inc. (MDB) by 33.9%, selling 5,107 shares, resulting in ownership of 9,964 shares valued at approximately $2.09 million.
• Several investment firms have recently increased their positions in MongoDB, with Primecap Management boosting its stake by 863.5% and Jericho Capital investing $161.5 million in a new stake.
• Wall Street analysts maintain a positive outlook on MongoDB, with price targets raised across multiple firms, including Wedbush and Piper Sandler, both setting targets at $400 per share.

Diversified Trust Co reduced its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 33.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 9,964 shares of the company's stock after selling 5,107 shares during the period. Diversified Trust Co's holdings in MongoDB were worth $2,092,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Two Sigma Advisers LP acquired a new position in MongoDB during the fourth quarter worth $6,519,000. Two Sigma Investments LP bought a new stake in MongoDB during the fourth quarter worth about $768,000. Vident Advisory LLC lifted its position in MongoDB by 25.9% during the fourth quarter. Vident Advisory LLC now owns 1,851 shares of the company's stock worth $431,000 after purchasing an additional 381 shares during the period. Woodline Partners LP bought a new stake in MongoDB during the fourth quarter worth about $247,000. Finally, GF Fund Management CO. LTD. bought a new stake in MongoDB during the fourth quarter worth about $3,259,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

MongoDB stock traded down $4.17 during trading hours on Tuesday, reaching $319.42. The company had a trading volume of 1,227,905 shares, compared to its average volume of 2,514,103. The company has a 50-day moving average price of $260.02 and a 200 day moving average price of $212.85. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The firm has a market cap of $25.99 billion, a price-to-earnings ratio of -326.32 and a beta of 1.49.

Analyst Ratings Changes

MDB has been the subject of several recent analyst reports. Stifel Nicolaus upped their price objective on shares of MongoDB from $325.00 to $375.00 and gave the stock a "buy" rating in a research report on Thursday, September 18th. Macquarie boosted their target price on MongoDB from $265.00 to $305.00 and gave the stock a "neutral" rating in a research note on Thursday, September 18th. William Blair reissued an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Truist Financial upped their price objective on MongoDB from $330.00 to $375.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. Finally, DA Davidson upped their price objective on MongoDB from $325.00 to $365.00 and gave the company a "buy" rating in a research note on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $336.83.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 33,320 shares of the company's stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the transaction, the chief executive officer directly owned 203,237 shares in the company, valued at $61,233,275.73. This represents a 14.09% 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 Charles M. Hazard, Jr. sold 166 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $310.00, for a total value of $51,460.00. Following the completion of the transaction, the director directly owned 14,493 shares in the company, valued at $4,492,830. This trade represents a 1.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,730 shares of company stock worth $16,441,331 in the last quarter. 3.10% of the stock is owned by insiders.

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.