Forsta AP Fonden Trims Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Forsta AP Fonden has reduced its holdings in MongoDB, Inc. by 24.8%, selling 5,000 shares during the first quarter, which leaves them with 15,200 shares valued at approximately $2.67 million.
• Several institutional investors, including Deutsche Bank AG and Swiss National Bank, have increased their stakes in MongoDB, with Deutsche Bank's ownership rising by 134.6% to 690,774 shares.
• MongoDB's latest earnings report revealed a 21.8% increase in revenue year-over-year, with $549.01 million in revenue and an earnings per share of $1.00, surpassing analyst expectations.

Forsta AP Fonden decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 24.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 15,200 shares of the company's stock after selling 5,000 shares during the period. Forsta AP Fonden's holdings in MongoDB were worth $2,666,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. Swiss National Bank lifted its stake in shares of MongoDB by 0.7% during the first quarter. Swiss National Bank now owns 210,100 shares of the company's stock valued at $36,852,000 after buying an additional 1,400 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of MongoDB by 9.5% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 63,997 shares of the company's stock valued at $11,225,000 after buying an additional 5,531 shares during the period. Battery Global Advisors LLC lifted its stake in shares of MongoDB by 75.6% during the first quarter. Battery Global Advisors LLC now owns 3,590 shares of the company's stock valued at $630,000 after buying an additional 1,545 shares during the period. Deutsche Bank AG lifted its stake in shares of MongoDB by 134.6% during the first quarter. Deutsche Bank AG now owns 690,774 shares of the company's stock valued at $121,162,000 after buying an additional 396,311 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its stake in shares of MongoDB by 6.0% during the first quarter. Charles Schwab Investment Management Inc. now owns 312,846 shares of the company's stock valued at $54,873,000 after buying an additional 17,633 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction 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 trade represents a 0.18% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Dev Ittycheria sold 25,005 shares of the firm's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the completion of the transaction, the chief executive officer owned 256,974 shares in the company, valued at approximately $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 51,416 shares of company stock valued at $11,936,656 in the last ninety days. Corporate insiders own 3.10% of the company's stock.

MongoDB Price Performance

Shares of MDB stock opened at $201.00 on Tuesday. The firm has a market cap of $16.42 billion, a P/E ratio of -176.32 and a beta of 1.44. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The firm has a fifty day moving average of $215.42 and a two-hundred day moving average of $210.45.

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

Analyst Upgrades and Downgrades

MDB has been the topic of several recent analyst reports. Mizuho reduced their price objective on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Barclays upped their price objective on shares of MongoDB from $252.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Scotiabank upped their price target on shares of MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Guggenheim upped their price target on shares of MongoDB from $235.00 to $260.00 and gave the stock a "buy" rating in a research report on Thursday, June 5th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $320.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $281.31.

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.

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