Acadian Asset Management LLC Reduces Holdings in MongoDB, Inc. (NASDAQ:MDB)

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Acadian Asset Management LLC Reduces Holdings in MongoDB, Inc. (NASDAQ:MDB)

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Acadian Asset Management LLC lowered its position in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 99.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 207 shares of the company’s stock after selling 139,071 shares during the quarter. Acadian Asset Management LLC’s holdings in MongoDB were worth $74,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of MongoDB in the fourth quarter worth $326,237,000. Jennison Associates LLC boosted its stake in MongoDB by 14.3% in the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after purchasing an additional 551,567 shares during the period. Axiom Investors LLC DE purchased a new position in MongoDB during the 4th quarter valued at about $153,990,000. Clearbridge Investments LLC increased its position in shares of MongoDB by 10,827.8% during the fourth quarter. Clearbridge Investments LLC now owns 212,983 shares of the company’s stock valued at $87,078,000 after buying an additional 211,034 shares during the period. Finally, First Trust Advisors LP lifted its holdings in shares of MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after buying an additional 204,284 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $252.23, for a total transaction of $1,261,150.00. Following the completion of the transaction, the chief financial officer now owns 81,942 shares of the company’s stock, valued at approximately $20,668,230.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $252.23, for a total transaction of $1,261,150.00. Following the transaction, the chief financial officer now directly owns 81,942 shares of the company’s stock, valued at approximately $20,668,230.66. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CRO Cedric Pech sold 273 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $72,424.17. Following the completion of the sale, the executive now directly owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The disclosure for this sale can be found here. Insiders have sold 35,179 shares of company stock valued at $9,535,839 over the last ninety days. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of analyst reports. Loop Capital decreased their target price on shares of MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Robert W. Baird decreased their price target on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Oppenheimer dropped their price objective on MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Scotiabank decreased their target price on MongoDB from $385.00 to $250.00 and set a “sector perform” rating on the stock in a research note on Monday, June 3rd. Finally, Morgan Stanley lowered their price target on MongoDB from $455.00 to $320.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $355.74.

Read Our Latest Stock Report on MDB

MongoDB Stock Performance

NASDAQ:MDB opened at $251.51 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93. MongoDB, Inc. has a fifty-two week low of $214.74 and a fifty-two week high of $509.62. The business has a 50 day moving average price of $258.94 and a 200-day moving average price of $344.67.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $450.56 million during the quarter, compared to analyst estimates of $438.44 million. MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. Equities analysts forecast that MongoDB, Inc. will post -2.67 earnings per share for the current year.

About MongoDB

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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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