Capital Research Global Investors Decreases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Capital Research Global Investors trimmed its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 61.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 552,540 shares of the company's stock after selling 881,000 shares during the quarter. Capital Research Global Investors owned approximately 0.74% of MongoDB worth $128,638,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new position in shares of MongoDB in the fourth quarter worth about $189,584,000. Marshall Wace LLP acquired a new position in shares of MongoDB during the 4th quarter worth approximately $110,356,000. Raymond James Financial Inc. purchased a new position in MongoDB during the fourth quarter worth approximately $90,478,000. Amundi grew its holdings in MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company's stock valued at $172,519,000 after buying an additional 321,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock worth $69,119,000 after acquiring an additional 294,228 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on MDB. Morgan Stanley reduced their target price on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. China Renaissance assumed coverage on MongoDB in a research note on Tuesday, January 21st. They set a "buy" rating and a $351.00 target price for the company. UBS Group set a $350.00 price objective on MongoDB in a research report on Tuesday, March 4th. Needham & Company LLC dropped their price target on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Finally, The Goldman Sachs Group lowered their price objective on shares of MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $297.28.

MongoDB Price Performance

Shares of MDB stock traded up $0.29 during trading hours on Friday, hitting $173.50. The stock had a trading volume of 2,105,206 shares, compared to its average volume of 2,228,796. The stock's 50 day moving average is $197.65 and its 200 day moving average is $249.73. The firm has a market capitalization of $14.09 billion, a PE ratio of -63.32 and a beta of 1.49. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to analysts' expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity

In other news, Director Dwight A. Merriman sold 885 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total transaction of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares of the company's stock, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,680 shares of company stock valued at $10,819,027. Company insiders own 3.60% of the company's stock.

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.