Bank of Nova Scotia Sells 26,995,360 Shares of MongoDB, Inc. (NASDAQ:MDB)

Bank of Nova Scotia trimmed its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 100.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,640 shares of the company's stock after selling 26,995,360 shares during the quarter. Bank of Nova Scotia's holdings in MongoDB were worth $2,708,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Hilltop National Bank lifted its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after buying an additional 42 shares during the period. NCP Inc. acquired a new stake in shares of MongoDB in the 4th quarter valued at approximately $35,000. Wilmington Savings Fund Society FSB bought a new position in MongoDB during the 3rd quarter worth approximately $44,000. Versant Capital Management Inc increased its stake in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after purchasing an additional 165 shares in the last quarter. Finally, Morse Asset Management Inc acquired a new stake in MongoDB in the third quarter worth $81,000. 89.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

MDB has been the topic of several research analyst reports. Robert W. Baird dropped their price objective on MongoDB from $390.00 to $300.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Morgan Stanley dropped their price target on MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday. Truist Financial decreased their price objective on MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Monness Crespi & Hardt upgraded shares of MongoDB from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Finally, Scotiabank reaffirmed a "sector perform" rating and issued a $240.00 target price (down from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Seven investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MongoDB has an average rating of "Moderate Buy" and an average target price of $303.97.

Remove Ads

MongoDB Stock Up 0.9 %

Shares of MongoDB stock traded up $1.46 during trading on Wednesday, reaching $160.04. The company's stock had a trading volume of 2,039,730 shares, compared to its average volume of 1,807,564. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $387.19. The firm has a market cap of $12.99 billion, a PE ratio of -58.41 and a beta of 1.49. The business's 50-day moving average price is $215.59 and its 200-day moving average price is $254.53.

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 the consensus estimate of $0.64 by ($0.45). The business 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 period in the prior year, the business posted $0.86 earnings per share. Equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Transactions at MongoDB

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the business's 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 $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. The trade was a 2.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Srdjan Tanjga sold 525 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the sale, the chief financial officer now owns 6,406 shares of the company's stock, valued at $1,109,903.56. The trade was a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 57,015 shares of company stock valued at $13,208,285. 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.