Fieldview Capital Management LLC Sells 13,524 Shares of MongoDB, Inc. $MDB

Key Points

• Fieldview Capital Management LLC cut its MongoDB stake by 64.2% in Q3, selling 13,524 shares and retaining 7,527 shares valued at roughly $2.34 million.
• Corporate insiders have been net sellers — including recent director sales by Hope Cochran and Dwight Merriman — with insiders selling 31,949 shares worth $13.16 million over the last 90 days, while institutional ownership stands at about 89.29%.
• Analysts show mixed target adjustments but the consensus is a “Moderate Buy” with a $354.18 target; MongoDB recently beat quarterly EPS and revenue estimates (EPS $1.65 vs $1.47; revenue $695.1M vs $669.4M) despite negative net margin and ROE.

Fieldview Capital Management LLC lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 64.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,527 shares of the company's stock after selling 13,524 shares during the quarter. Fieldview Capital Management LLC's holdings in MongoDB were worth $2,336,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MDB. Huntington National Bank raised its position in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company's stock valued at $30,000 after purchasing an additional 51 shares during the period. Montag A & Associates Inc. lifted its stake in shares of MongoDB by 144.3% during the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company's stock valued at $36,000 after buying an additional 101 shares in the last quarter. Promus Capital LLC bought a new position in MongoDB in the 2nd quarter worth approximately $36,000. TD Private Client Wealth LLC boosted its holdings in MongoDB by 2,825.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock worth $36,000 after buying an additional 113 shares during the period. Finally, Hollencrest Capital Management purchased a new position in MongoDB in the 3rd quarter valued at approximately $37,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Transactions at MongoDB

In other MongoDB news, 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 value of $660,617.10. Following the sale, the director owned 25,659 shares of the company's stock, valued at $10,824,249.15. This trade represents a 5.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $417.83, for a total value of $4,178,300.00. Following the sale, the director owned 1,041,316 shares of the company's stock, valued at approximately $435,093,064.28. This trade represents a 0.95% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 31,949 shares of company stock worth $13,159,930 over the last 90 days. Corporate insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Scotiabank raised shares of MongoDB from a "sector perform" rating to a "sector outperform" rating and boosted their target price for the company from $275.00 to $310.00 in a report on Thursday, March 5th. UBS Group cut their price target on MongoDB from $440.00 to $275.00 and set a "neutral" rating for the company in a report on Tuesday, March 3rd. KeyCorp reiterated a "sector weight" rating on shares of MongoDB in a research report on Tuesday, December 2nd. Robert W. Baird reissued a "neutral" rating and set a $260.00 price objective (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. Finally, DA Davidson cut their target price on MongoDB from $465.00 to $385.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. One investment 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 given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $354.18.

MongoDB Price Performance

MDB opened at $271.74 on Tuesday. The firm has a market capitalization of $22.12 billion, a P/E ratio of -308.80, a price-to-earnings-growth ratio of 403.42 and a beta of 1.40. MongoDB, Inc. has a one year low of $140.78 and a one year high of $444.72. The company has a fifty day moving average price of $366.04 and a 200-day moving average price of $353.30.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate 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 was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.28 earnings per share. On average, analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current 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.

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