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Mirae Asset Global Investments Co. Ltd. Sells 7,008 Shares of MongoDB, Inc. (NASDAQ:MDB)

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Mirae Asset Global Investments Co. Ltd. lowered its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 12.6% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,728 shares of the company's stock after selling 7,008 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of MongoDB worth $8,592,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in MDB. Amalgamated Bank lifted its position in shares of MongoDB by 1.9% in the 4th quarter. Amalgamated Bank now owns 4,713 shares of the company's stock worth $1,097,000 after purchasing an additional 89 shares during the period. Oppenheimer & Co. Inc. grew its holdings in MongoDB by 93.4% in the fourth quarter. Oppenheimer & Co. Inc. now owns 9,193 shares of the company's stock worth $2,140,000 after purchasing an additional 4,440 shares during the period. Proficio Capital Partners LLC bought a new position in shares of MongoDB during the fourth quarter valued at approximately $10,135,000. US Bancorp DE increased its stake in shares of MongoDB by 8.3% during the fourth quarter. US Bancorp DE now owns 4,190 shares of the company's stock valued at $975,000 after purchasing an additional 321 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake in shares of MongoDB by 56.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock worth $87,000 after buying an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 820 shares of the stock in a transaction on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the transaction, the director owned 1,106,186 shares in the company, valued at $233,228,256.24. This represents a 0.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director owned 21,096 shares in the company, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,999 shares of company stock worth $6,728,127. 3.10% of the stock is owned by corporate insiders.

MongoDB Price Performance

Shares of MongoDB stock traded up $6.54 on Thursday, hitting $210.97. The company had a trading volume of 1,522,052 shares, compared to its average volume of 1,957,711. The business has a 50-day simple moving average of $193.91 and a 200-day simple moving average of $216.09. The company has a market cap of $17.24 billion, a PE ratio of -185.06 and a beta of 1.41. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00.

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Canaccord Genuity Group reduced their price objective on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Loop Capital lowered shares of MongoDB from a "buy" rating to a "hold" rating and reduced their price objective for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Citigroup reduced their price objective on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Robert W. Baird reduced their price target on shares of MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a research note on Thursday, March 6th. Finally, UBS Group lifted their price target on shares of MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Eight analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $282.47.

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MongoDB Profile

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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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Institutional Ownership by Quarter for MongoDB (NASDAQ:MDB)

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