Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Zurcher Kantonalbank Zurich Cantonalbank has reduced its holdings in MongoDB, Inc. by 12.4%, selling 2,114 shares to hold a total of 14,976 shares valued at approximately $2.63 million.
• MongoDB reported a quarterly earnings per share of $1.00, surpassing expectations and achieving a revenue increase of 21.8% year-over-year with $549.01 million.
• Analysts maintain a consensus rating of "Moderate Buy" for MongoDB, with target prices ranging from $190 to $275 as per various research notes.

Zurcher Kantonalbank Zurich Cantonalbank cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 12.4% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,976 shares of the company's stock after selling 2,114 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in MongoDB were worth $2,627,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. TD Asset Management Inc lifted its position in MongoDB by 0.7% during the first quarter. TD Asset Management Inc now owns 60,052 shares of the company's stock valued at $10,533,000 after purchasing an additional 419 shares in the last quarter. Mediolanum International Funds Ltd purchased a new position in shares of MongoDB in the first quarter valued at about $1,597,000. Zweig DiMenna Associates LLC purchased a new position in shares of MongoDB in the first quarter valued at about $1,316,000. Glynn Capital Management LLC lifted its position in shares of MongoDB by 13.9% in the first quarter. Glynn Capital Management LLC now owns 96,719 shares of the company's stock valued at $16,965,000 after acquiring an additional 11,839 shares in the last quarter. Finally, Assetmark Inc. lifted its position in shares of MongoDB by 13.6% in the first quarter. Assetmark Inc. now owns 28,703 shares of the company's stock valued at $5,035,000 after acquiring an additional 3,436 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Down 7.1%

NASDAQ:MDB traded down $16.92 during midday trading on Friday, hitting $220.97. The stock had a trading volume of 3,019,213 shares, compared to its average volume of 2,199,258. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The company has a market capitalization of $18.06 billion, a price-to-earnings ratio of -193.83 and a beta of 1.44. The stock has a 50-day moving average of $211.50 and a 200 day moving average of $211.98.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate 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 quarter in the prior year, the firm earned $0.51 earnings per share. MongoDB's revenue was up 21.8% compared to the same quarter last year. On average, sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDB has been the topic of several research analyst reports. William Blair restated an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. Royal Bank Of Canada restated an "outperform" rating and issued a $320.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Cantor Fitzgerald boosted their price objective on MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Wolfe Research started coverage on MongoDB in a research report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 target price on the stock. Finally, Stifel Nicolaus decreased their target price on MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. 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. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $281.31.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 25,005 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 value of $5,851,170.00. Following the transaction, the chief executive officer owned 256,974 shares of the company's stock, valued at $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director directly owned 21,096 shares in the company, 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 have sold a total of 51,416 shares of company stock valued at $11,936,656 over the last quarter. 3.10% of the stock is owned by corporate insiders.

MongoDB Company 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.