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Mirae Asset Global Investments Co. Ltd. lessened its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 12.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 48,728 shares of the company’s stock after selling 7,008 shares during the quarter. Mirae Asset Global Investments Co. Ltd. owned about 0.06% of MongoDB worth $8,592,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in MDB. Vanguard Group Inc. grew its holdings in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after acquiring an additional 181,962 shares in the last quarter. Geode Capital Management LLC increased its position in shares of MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock worth $290,987,000 after acquiring an additional 22,106 shares during the period. First Trust Advisors LP raised its stake in shares of MongoDB by 12.6% in the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after acquiring an additional 95,893 shares in the last quarter. Finally, Norges Bank purchased a new position in MongoDB in the fourth quarter valued at $189,584,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently weighed in on the stock. Stifel Nicolaus reduced their price objective on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, April 11th. Bank of America raised their price target on MongoDB from $215.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th. KeyCorp downgraded MongoDB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Finally, Daiwa Capital Markets started coverage on MongoDB in a research note on Tuesday, April 1st. They set an “outperform” rating and a $202.00 target price for the company. Eight analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $282.47.
Read Our Latest Stock Analysis on MongoDB
Insider Buying and Selling
In related news, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares of the company’s stock, 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 sold a total of 28,999 shares of company stock worth $6,728,127 over the last ninety days. 3.10% of the stock is owned by corporate insiders.
MongoDB Trading Down 0.8%
NASDAQ MDB traded down $1.61 during mid-day trading on Wednesday, hitting $204.43. The company’s stock had a trading volume of 2,169,154 shares, compared to its average volume of 1,959,454. The firm has a market capitalization of $16.70 billion, a price-to-earnings ratio of -179.32 and a beta of 1.41. The company’s 50 day simple moving average is $193.91 and its 200 day simple moving average is $216.09. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The firm had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. During the same quarter last year, the firm earned $0.51 EPS. The company’s quarterly revenue was up 21.8% compared to the same quarter last year. As a group, research analysts forecast that MongoDB, Inc. will post -1.78 EPS 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.
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