Zevenbergen Capital Investments LLC Reduces Position in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Zevenbergen Capital Investments LLC has reduced its stake in MongoDB by 15.4%, now holding 65,790 shares valued at approximately $11.54 million.
• Analysts have projected a current consensus rating of "Moderate Buy" for MongoDB, with a target price averaging $281.31, following several upgrades from brokerages.
• MongoDB reported a 21.8% increase in year-over-year revenue, achieving $549.01 million for the quarter, surpassing analysts' expectations.

Zevenbergen Capital Investments LLC lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 15.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 65,790 shares of the company's stock after selling 11,940 shares during the period. Zevenbergen Capital Investments LLC owned about 0.08% of MongoDB worth $11,540,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB during the fourth quarter valued at approximately $29,000. Cloud Capital Management LLC purchased a new position in shares of MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new position in shares of MongoDB during the first quarter valued at approximately $26,000. Cullen Frost Bankers Inc. boosted its position in shares of MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after buying an additional 120 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its position in shares of MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after buying an additional 182 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on MDB. Cantor Fitzgerald boosted their price target on MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Piper Sandler boosted their price target on MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price target on shares of MongoDB in a report on Thursday, June 5th. Guggenheim boosted their price target on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Finally, Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target for the company in a report on Thursday, April 17th. Nine equities research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $281.31.

MongoDB Trading Down 8.2%

Shares of MDB stock opened at $209.18 on Friday. The business's fifty day simple moving average is $215.26 and its 200-day simple moving average is $211.22. The company has a market cap of $17.09 billion, a PE ratio of -183.49 and a beta of 1.44. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00.

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

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the transaction, the director owned 1,107,006 shares in the company, 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 SEC, which is available at this link. Also, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the completion of the transaction, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,416 shares of company stock worth $11,936,656 in the last 90 days. Insiders own 3.10% of the company's stock.

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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