MongoDB, Inc. (NASDAQ:MDB) Stake Lowered by Bank of Nova Scotia

Bank of Nova Scotia decreased its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 100.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,640 shares of the company's stock after selling 26,995,360 shares during the quarter. Bank of Nova Scotia's holdings in MongoDB were worth $2,708,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. B.O.S.S. Retirement Advisors LLC purchased a new position in shares of MongoDB in the 4th quarter valued at about $606,000. Geode Capital Management LLC increased its holdings in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after buying an additional 34,814 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new stake in shares of MongoDB during the 4th quarter valued at approximately $3,515,000. HighTower Advisors LLC grew its holdings in shares of MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock worth $4,371,000 after acquiring an additional 372 shares during the period. Finally, Nisa Investment Advisors LLC grew its holdings in shares of MongoDB by 428.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock worth $1,340,000 after acquiring an additional 4,665 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDB. Mizuho lowered their target price on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a report on Tuesday. Needham & Company LLC lowered their price objective on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Guggenheim upgraded shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 target price for the company in a research report on Monday, January 6th. Wedbush lowered their price target on shares of MongoDB from $360.00 to $300.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Finally, Scotiabank restated a "sector perform" rating and set a $240.00 price objective (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of "Moderate Buy" and an average target price of $299.78.

MongoDB Price Performance

NASDAQ MDB traded down $0.78 during trading hours on Friday, hitting $159.26. The company had a trading volume of 1,549,284 shares, compared to its average volume of 1,810,104. The firm's 50 day moving average is $210.69 and its 200 day moving average is $253.11. The company has a market capitalization of $12.93 billion, a price-to-earnings ratio of -58.12 and a beta of 1.49. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $387.19.

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

Insider Buying and Selling at MongoDB

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the transaction, the insider now directly owns 57,634 shares in the company, valued at $9,985,666.84. This represents a 2.85 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the business's stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $265.00, for a total transaction of $265,000.00. Following the completion of the sale, the director now directly owns 1,116,006 shares of the company's stock, valued at $295,741,590. The trade was a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 48,680 shares of company stock valued at $11,084,027 in the last ninety days. Insiders own 3.60% 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.