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Prudential PLC cut its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 90.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,209 shares of the company’s stock after selling 20,704 shares during the quarter. Prudential PLC’s holdings in MongoDB were worth $552,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of MongoDB during the 4th quarter valued at about $326,237,000. Jennison Associates LLC boosted its position in MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after buying an additional 551,567 shares in the last quarter. Swedbank AB boosted its position in MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares in the last quarter. Axiom Investors LLC DE acquired a new position in MongoDB in the fourth quarter valued at about $153,990,000. Finally, Clearbridge Investments LLC boosted its position in MongoDB by 109.0% in the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after buying an additional 232,101 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.
MongoDB Stock Down 0.5 %
MongoDB stock opened at $295.18 on Friday. The stock has a market capitalization of $21.80 billion, a PE ratio of -105.05 and a beta of 1.15. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a 50 day moving average of $255.38 and a 200-day moving average of $305.33.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.63) earnings per share. On average, equities research analysts anticipate that MongoDB, Inc. will post -2.46 EPS for the current fiscal year.
Insider Buying and Selling
In related news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Monday, June 17th. The shares were sold at an average price of $224.38, for a total transaction of $263,422.12. Following the completion of the transaction, the director now owns 13,011 shares in the company, valued at $2,919,408.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $224.38, for a total value of $263,422.12. Following the transaction, the director now directly owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John Dennis Mcmahon sold 10,000 shares of the stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the completion of the transaction, the director now directly owns 20,020 shares in the company, valued at $4,564,560. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,179 shares of company stock worth $8,346,169. 3.60% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
MDB has been the topic of a number of recent analyst reports. Piper Sandler boosted their price target on shares of MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Loop Capital reduced their target price on shares of MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research report on Friday, August 30th. Guggenheim upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, June 3rd. Finally, Monness Crespi & Hardt upgraded shares of MongoDB to a “hold” rating in a research report on Tuesday, May 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $337.56.
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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