Stonegate Investment Group LLC Sells 16,768 Shares of MongoDB, Inc. (NASDAQ:MDB)

Stonegate Investment Group LLC lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 71.8% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,598 shares of the company's stock after selling 16,768 shares during the quarter. Stonegate Investment Group LLC's holdings in MongoDB were worth $2,366,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Transcendent Capital Group LLC bought a new stake in shares of MongoDB during the 4th quarter worth about $25,000. BluePath Capital Management LLC acquired a new position in MongoDB during the third quarter valued at approximately $30,000. Blue Trust Inc. grew its holdings in MongoDB by 937.5% during the fourth quarter. Blue Trust Inc. now owns 83 shares of the company's stock valued at $34,000 after purchasing an additional 75 shares during the last quarter. Cullen Frost Bankers Inc. acquired a new stake in shares of MongoDB in the third quarter worth $35,000. Finally, AM Squared Ltd acquired a new stake in shares of MongoDB in the third quarter worth $35,000. Institutional investors own 89.29% of the company's stock.

MongoDB Price Performance

Shares of MongoDB stock traded down $6.76 during mid-day trading on Tuesday, reaching $365.18. 1,076,914 shares of the stock were exchanged, compared to its average volume of 1,377,233. MongoDB, Inc. has a fifty-two week low of $215.56 and a fifty-two week high of $509.62. The company has a market cap of $26.60 billion, a price-to-earnings ratio of -147.25 and a beta of 1.20. The firm has a 50-day simple moving average of $376.15 and a 200 day simple moving average of $391.24. The company has a current ratio of 4.40, a quick ratio of 4.40 and a debt-to-equity ratio of 1.07.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.32). The firm had revenue of $458.00 million for the quarter, compared to the consensus estimate of $431.99 million. MongoDB had a negative return on equity of 16.22% and a negative net margin of 10.49%. On average, sell-side analysts predict that MongoDB, Inc. will post -2.53 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 170 shares of MongoDB stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the transaction, the chief accounting officer now directly owns 17,360 shares of the company's stock, valued at $6,043,363.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Thomas Bull sold 170 shares of the firm's stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the sale, the chief accounting officer now owns 17,360 shares of the company's stock, valued at $6,043,363.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of the company's stock in a transaction on Monday, February 5th. The stock was sold at an average price of $437.99, for a total value of $2,627,940.00. Following the transaction, the director now directly owns 1,168,784 shares in the company, valued at approximately $511,915,704.16. The disclosure for this sale can be found here. Insiders sold 91,802 shares of company stock valued at $35,936,911 in the last three months. Corporate insiders own 4.80% of the company's stock.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of research analyst reports. DA Davidson upgraded shares of MongoDB from a "neutral" rating to a "buy" rating and raised their target price for the company from $405.00 to $430.00 in a research note on Friday, March 8th. UBS Group reiterated a "neutral" rating and issued a $410.00 price objective (down from $475.00) on shares of MongoDB in a research note on Thursday, January 4th. KeyCorp cut their price objective on MongoDB from $490.00 to $440.00 and set an "overweight" rating for the company in a research report on Thursday, April 18th. Loop Capital assumed coverage on MongoDB in a report on Tuesday, April 23rd. They issued a "buy" rating and a $415.00 target price on the stock. Finally, Guggenheim upped their price target on MongoDB from $250.00 to $272.00 and gave the stock a "sell" rating in a report on Monday, March 4th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and twenty have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $443.86.

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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