USS Investment Management Ltd Reduces Position in MongoDB, Inc. (NASDAQ:MDB)

USS Investment Management Ltd cut its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 15.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,409 shares of the company's stock after selling 2,412 shares during the period. USS Investment Management Ltd's holdings in MongoDB were worth $3,121,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock worth $1,706,205,000 after buying an additional 23,942 shares during the last quarter. Franklin Resources Inc. increased its position in MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares during the last quarter. Geode Capital Management LLC increased its position in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after buying an additional 22,106 shares during the last quarter. First Trust Advisors LP increased its position in MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock worth $199,031,000 after buying an additional 95,893 shares during the last quarter. Finally, Norges Bank acquired a new position in MongoDB during the fourth quarter worth $189,584,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

MDB has been the subject of a number of recent analyst reports. Daiwa Capital Markets initiated coverage on shares of MongoDB in a report on Tuesday, April 1st. They set an "outperform" rating and a $202.00 price target for the company. Cantor Fitzgerald began coverage on MongoDB in a report on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 price target for the company. Monness Crespi & Hardt raised MongoDB from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Daiwa America upgraded MongoDB to a "strong-buy" rating in a research report on Tuesday, April 1st. Finally, Bank of America reduced their target price on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Nine investment analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $288.91.

Insider Activity

In related news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares in the company, valued at $1,109,903.56. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 33,538 shares of company stock worth $6,889,905 over the last 90 days. 3.60% of the stock is currently owned by insiders.

MongoDB Stock Up 1.7%

Shares of NASDAQ MDB traded up $3.10 on Tuesday, reaching $188.95. 1,979,362 shares of the company's stock traded hands, compared to its average volume of 1,933,997. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The business's 50 day simple moving average is $174.60 and its two-hundred day simple moving average is $234.52. The company has a market cap of $15.34 billion, a price-to-earnings ratio of -68.96 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the business posted $0.86 EPS. Analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.