Oppenheimer & Co. Inc. Cuts Holdings in MongoDB, Inc. (NASDAQ:MDB)

Oppenheimer & Co. Inc. lessened its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 49.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,614 shares of the company's stock after selling 4,579 shares during the quarter. Oppenheimer & Co. Inc.'s holdings in MongoDB were worth $809,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB in the 4th quarter worth $29,000. Coppell Advisory Solutions LLC increased its stake in shares of MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after purchasing an additional 182 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of MongoDB by 56.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock worth $87,000 after purchasing an additional 134 shares during the last quarter. J.Safra Asset Management Corp lifted its stake in MongoDB by 72.0% in the 4th quarter. J.Safra Asset Management Corp now owns 387 shares of the company's stock valued at $91,000 after buying an additional 162 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in MongoDB in the 4th quarter valued at about $97,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Buying and Selling at MongoDB

In related news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the sale, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $468,000.00. Following the sale, the director owned 1,107,006 shares in the company, valued at approximately $259,039,404. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,999 shares of company stock valued at $6,728,127 in the last three months. 3.10% of the stock is owned by corporate insiders.

MongoDB Price Performance

Shares of NASDAQ:MDB traded up $6.62 during mid-day trading on Thursday, reaching $211.05. 1,522,860 shares of the company were exchanged, compared to its average volume of 1,957,715. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The firm's 50-day simple moving average is $193.91 and its 200 day simple moving average is $216.09. The firm has a market cap of $17.25 billion, a price-to-earnings ratio of -185.13 and a beta of 1.41.

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

Analysts Set New Price Targets

A number of equities analysts have commented on MDB shares. DA Davidson reissued a "buy" rating and set a $275.00 target price on shares of MongoDB in a report on Thursday, June 5th. Wells Fargo & Company downgraded MongoDB from an "overweight" rating to an "equal weight" rating and reduced their price objective for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Needham & Company LLC reaffirmed a "buy" rating and set a $270.00 target price on shares of MongoDB in a report on Thursday, June 5th. Finally, Stifel Nicolaus reduced their target price on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Eight research analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus price target of $282.47.

About MongoDB

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.