Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Position in MongoDB, Inc. (NASDAQ:MDB)

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Sumitomo Mitsui Trust Holdings Inc. Cuts Stock Position in MongoDB, Inc. (NASDAQ:MDB)

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Sumitomo Mitsui Trust Holdings Inc. trimmed its stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 2.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,093 shares of the company’s stock after selling 3,721 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of MongoDB worth $60,212,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. GPS Wealth Strategies Group LLC acquired a new stake in MongoDB in the 2nd quarter worth about $26,000. KB Financial Partners LLC purchased a new position in shares of MongoDB in the second quarter valued at approximately $27,000. Capital Advisors Ltd. LLC boosted its stake in shares of MongoDB by 131.0% in the second quarter. Capital Advisors Ltd. LLC now owns 67 shares of the company’s stock worth $28,000 after acquiring an additional 38 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of MongoDB during the fourth quarter worth approximately $29,000. Finally, BluePath Capital Management LLC acquired a new position in MongoDB in the 3rd quarter valued at $30,000. Institutional investors and hedge funds own 88.89% of the company’s stock.

MongoDB Trading Down 0.3 %

NASDAQ MDB opened at $391.59 on Monday. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.74 and a quick ratio of 4.74. MongoDB, Inc. has a one year low of $179.52 and a one year high of $442.84. The firm has a 50 day simple moving average of $397.23 and a 200-day simple moving average of $380.81.

MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings data on Tuesday, December 5th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.45. The business had revenue of $432.94 million for the quarter, compared to analysts’ expectations of $406.33 million. MongoDB had a negative return on equity of 20.64% and a negative net margin of 11.70%. The company’s revenue for the quarter was up 29.8% compared to the same quarter last year. During the same period last year, the firm earned ($1.23) earnings per share. As a group, equities analysts forecast that MongoDB, Inc. will post -1.64 earnings per share for the current year.

Insider Activity

In related news, CAO Thomas Bull sold 359 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $404.38, for a total value of $145,172.42. Following the sale, the chief accounting officer now owns 16,313 shares of the company’s stock, valued at $6,596,650.94. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Dev Ittycheria sold 100,500 shares of the firm’s stock in a transaction dated Tuesday, November 7th. The stock was sold at an average price of $375.00, for a total transaction of $37,687,500.00. Following the sale, the chief executive officer now owns 214,177 shares of the company’s stock, valued at approximately $80,316,375. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Bull sold 359 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $404.38, for a total value of $145,172.42. Following the sale, the chief accounting officer now owns 16,313 shares of the company’s stock, valued at approximately $6,596,650.94. The disclosure for this sale can be found here. In the last quarter, insiders sold 147,029 shares of company stock worth $56,304,511. 4.80% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Capital One Financial raised shares of MongoDB from an “equal weight” rating to an “overweight” rating and set a $427.00 price objective for the company in a research note on Wednesday, November 8th. UBS Group reaffirmed a “neutral” rating and issued a $410.00 price target (down previously from $475.00) on shares of MongoDB in a report on Thursday, January 4th. Needham & Company LLC boosted their price objective on MongoDB from $445.00 to $495.00 and gave the stock a “buy” rating in a research note on Wednesday, December 6th. Truist Financial reaffirmed a “buy” rating and issued a $430.00 target price on shares of MongoDB in a research note on Monday, November 13th. Finally, Barclays lifted their price target on MongoDB from $470.00 to $478.00 and gave the stock an “overweight” rating in a report on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $430.41.

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MongoDB Profile

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MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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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