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Bank Julius Baer & Co. Ltd Zurich lowered its stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 58.2% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 26,032 shares of the company’s stock after selling 36,303 shares during the period. Bank Julius Baer & Co. Ltd Zurich’s holdings in MongoDB were worth $4,724,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently made changes to their positions in the stock. Quantbot Technologies LP acquired a new stake in shares of MongoDB in the 4th quarter valued at $702,000. KLP Kapitalforvaltning AS acquired a new position in MongoDB during the fourth quarter worth about $5,611,000. Vanguard Group Inc. lifted its stake in MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after buying an additional 23,942 shares in the last quarter. Parametrica Management Ltd purchased a new stake in MongoDB in the 4th quarter valued at approximately $365,000. Finally, Korea Investment CORP lifted its stake in shares of MongoDB by 20.3% during the 4th quarter. Korea Investment CORP now owns 58,871 shares of the company’s stock worth $13,706,000 after purchasing an additional 9,936 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.
Insider Buying and Selling at MongoDB
In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Tuesday, July 22nd. The shares were sold at an average price of $225.00, for a total transaction of $225,000.00. Following the completion of the sale, the director owned 1,105,316 shares of the company’s stock, valued at $248,696,100. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 3,747 shares of the stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total transaction of $772,069.35. Following the sale, the chief executive officer directly owned 253,227 shares of the company’s stock, valued at $52,177,423.35. This represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,746 shares of company stock valued at $7,725,196. Corporate insiders own 3.10% of the company’s stock.
Analysts Set New Price Targets
MDB has been the topic of several recent research reports. Daiwa America upgraded shares of MongoDB to a “strong-buy” rating in a report on Tuesday, April 1st. Monness Crespi & Hardt upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price objective for the company in a report on Thursday, June 5th. Bank of America raised their target price on shares of MongoDB from $215.00 to $275.00 and gave the stock a “buy” rating in a report on Thursday, June 5th. Wolfe Research initiated coverage on shares of MongoDB in a research note on Wednesday, July 9th. They issued an “outperform” rating and a $280.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and set a $270.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average price target of $281.35.
Check Out Our Latest Stock Report on MDB
MongoDB Stock Performance
Shares of NASDAQ MDB traded up $6.91 during trading on Thursday, reaching $235.16. The company had a trading volume of 2,494,247 shares, compared to its average volume of 1,906,517. The stock has a market cap of $19.21 billion, a PE ratio of -206.28 and a beta of 1.41. The business’s 50 day moving average price is $204.58 and its 200-day moving average price is $212.84. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same period in the previous year, the firm posted $0.51 earnings per share. MongoDB’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities analysts anticipate 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.
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