Capital World Investors Sells 120,885 Shares of MongoDB, Inc. (NASDAQ:MDB)

Capital World Investors reduced its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 34.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 230,606 shares of the company's stock after selling 120,885 shares during the period. Capital World Investors owned 0.31% of MongoDB worth $53,687,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDB. B.O.S.S. Retirement Advisors LLC bought a new stake in MongoDB in the 4th quarter valued at $606,000. Union Bancaire Privee UBP SA bought a new stake in shares of MongoDB in the fourth quarter valued at about $3,515,000. HighTower Advisors LLC grew its position in MongoDB by 2.0% during the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock worth $4,371,000 after buying an additional 372 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in MongoDB by 428.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock valued at $1,340,000 after acquiring an additional 4,665 shares during the period. Finally, Covea Finance bought a new stake in shares of MongoDB in the 4th quarter worth approximately $3,841,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MDB. Morgan Stanley lowered their price objective on MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Truist Financial reduced their price objective on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a report on Monday, March 31st. Robert W. Baird dropped their price target on shares of MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Cantor Fitzgerald started coverage on MongoDB in a report on Wednesday, March 5th. They set an "overweight" rating and a $344.00 price objective on the stock. Finally, Daiwa Capital Markets initiated coverage on MongoDB in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $297.28.

MongoDB Price Performance

MDB stock traded up $10.55 during trading hours on Thursday, reaching $173.21. 3,314,529 shares of the stock were exchanged, compared to its average volume of 1,836,436. The firm's 50-day moving average is $199.98 and its 200-day moving average is $250.32. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $387.19. The company has a market cap of $14.06 billion, a price-to-earnings ratio of -63.22 and a beta of 1.49.

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

Insider Transactions at MongoDB

In other MongoDB news, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares in the company, valued at $1,109,903.56. This trade represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 301 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, 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. Insiders have sold a total of 47,680 shares of company stock valued at $10,819,027 over the last 90 days. 3.60% of the stock is owned by corporate insiders.

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.