MongoDB, Inc. (NASDAQ:MDB) Stock Position Trimmed by Cresset Asset Management LLC

Cresset Asset Management LLC cut its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 47.2% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,838 shares of the company's stock after selling 2,533 shares during the quarter. Cresset Asset Management LLC's holdings in MongoDB were worth $661,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB during the 4th quarter worth about $29,000. NCP Inc. bought a new stake in shares of MongoDB during the 4th quarter worth about $35,000. Coppell Advisory Solutions LLC raised its position in shares of MongoDB by 364.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after buying an additional 182 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of MongoDB by 56.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock worth $87,000 after buying an additional 134 shares in the last quarter. Finally, Manchester Capital Management LLC raised its position in shares of MongoDB by 57.4% during the 4th quarter. Manchester Capital Management LLC now owns 384 shares of the company's stock worth $89,000 after buying an additional 140 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Performance

Shares of MDB opened at $195.90 on Wednesday. The company's 50 day moving average price is $174.62 and its 200 day moving average price is $241.04. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $379.06. The company has a market capitalization of $15.90 billion, a PE ratio of -71.50 and a beta of 1.49.

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

Analysts Set New Price Targets

A number of analysts have commented on MDB shares. Royal Bank of Canada dropped their price target on shares of MongoDB from $400.00 to $320.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Mizuho lowered their price objective on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Cantor Fitzgerald assumed coverage on shares of MongoDB in a research note on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 price objective on the stock. Wedbush lowered their price objective on shares of MongoDB from $360.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Finally, Daiwa America raised shares of MongoDB to a "strong-buy" rating in a research note on Tuesday, April 1st. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $294.78.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the sale, the chief executive officer now directly owns 268,948 shares in the company, valued at $46,597,930.48. The trade was a 6.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were 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 of the company's stock, valued at $1,109,903.56. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,423 shares of company stock worth $7,148,369 over the last ninety days. 3.60% of the stock is currently owned by insiders.

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.

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