Kayne Anderson Rudnick Investment Management LLC Sells 9,702 Shares of MongoDB, Inc. (NASDAQ:MDB)

Kayne Anderson Rudnick Investment Management LLC reduced its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 4.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 202,512 shares of the company's stock after selling 9,702 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.27% of MongoDB worth $47,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB during the fourth quarter worth approximately $29,000. Hilltop National Bank raised its holdings in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after purchasing an additional 42 shares during the period. NCP Inc. acquired a new position in MongoDB in the fourth quarter valued at approximately $35,000. Versant Capital Management Inc increased its position in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $42,000 after buying an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in MongoDB during the 3rd quarter valued at about $44,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Price Performance

MDB stock traded up $0.29 during midday trading on Friday, reaching $173.50. 2,105,295 shares of the stock were exchanged, compared to its average volume of 1,837,509. The company has a fifty day moving average price of $197.65 and a 200 day moving average price of $249.73. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $387.19. The stock has a market capitalization of $14.09 billion, a PE ratio of -63.32 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 for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates 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 last year, the company earned $0.86 earnings per share. As a group, analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently weighed in on MDB. UBS Group set a $350.00 price objective on shares of MongoDB in a research note on Tuesday, March 4th. Morgan Stanley lowered their price objective on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Stifel Nicolaus lowered their price objective on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a research report on Friday, April 11th. Guggenheim upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a report on Monday, January 6th. Finally, Wedbush decreased their target price on MongoDB from $360.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and an average price target of $297.28.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares of the company's stock, valued at $46,597,930.48. This trade represents a 6.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cedric Pech sold 1,690 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the transaction, the insider now directly owns 57,634 shares in the company, valued at $9,985,666.84. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 47,680 shares of company stock valued at $10,819,027. 3.60% of the stock is owned by company 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.