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

A number of other hedge funds also recently made changes to their positions in MDB. Orion Portfolio Solutions LLC raised its position in shares of MongoDB by 19.1% in the 4th quarter. Orion Portfolio Solutions LLC now owns 6,076 shares of the company's stock worth $1,414,000 after acquiring an additional 974 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MongoDB in the fourth quarter worth $13,832,000. Schroder Investment Management Group grew its position in MongoDB by 16.8% during the 4th quarter. Schroder Investment Management Group now owns 5,905 shares of the company's stock worth $1,375,000 after purchasing an additional 849 shares during the period. O Shaughnessy Asset Management LLC boosted its position in MongoDB by 4.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after purchasing an additional 75 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after purchasing an additional 22,106 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 8,335 shares of the company's stock in a transaction on Monday, July 28th. The stock was sold at an average price of $243.89, for a total value of $2,032,823.15. Following the completion of the transaction, the chief executive officer directly owned 236,557 shares in the company, valued at approximately $57,693,886.73. This represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director directly owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on MDB shares. Scotiabank lifted their price objective on shares of MongoDB from $160.00 to $230.00 and gave the company a "sector perform" rating in a report on Thursday, June 5th. Rosenblatt Securities dropped their target price on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a research report on Thursday, June 5th. Mizuho reduced their price objective on MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Morgan Stanley decreased their target price on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Bank of America boosted their price objective on MongoDB from $215.00 to $275.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $281.31.

MongoDB Stock Performance

NASDAQ:MDB traded up $7.57 during mid-day trading on Wednesday, reaching $235.82. The stock had a trading volume of 1,785,990 shares, compared to its average volume of 2,289,430. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The business has a 50 day simple moving average of $213.10 and a 200 day simple moving average of $211.90. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of -206.86 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating 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 business had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same quarter last year, the business posted $0.51 earnings per share. The business's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.