Clearbridge Investments LLC Sells 63,296 Shares of MongoDB, Inc. (NASDAQ:MDB)

Clearbridge Investments LLC lowered its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 14.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 381,788 shares of the company's stock after selling 63,296 shares during the quarter. Clearbridge Investments LLC owned approximately 0.52% of MongoDB worth $95,432,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in MongoDB by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company's stock valued at $2,478,475,000 after purchasing an additional 68,348 shares during the period. Jennison Associates LLC lifted its position in MongoDB by 14.3% during the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company's stock valued at $1,581,037,000 after purchasing an additional 551,567 shares during the period. Swedbank AB lifted its position in MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company's stock valued at $164,222,000 after purchasing an additional 400,705 shares during the period. Champlain Investment Partners LLC lifted its position in MongoDB by 22.4% during the 1st quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company's stock valued at $197,497,000 after purchasing an additional 100,725 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company's stock valued at $106,084,000 after purchasing an additional 388,979 shares during the period. Institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDB. Needham & Company LLC increased their price target on shares of MongoDB from $290.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Sanford C. Bernstein increased their price target on shares of MongoDB from $358.00 to $360.00 and gave the company an "outperform" rating in a research report on Friday, August 30th. Bank of America increased their price target on shares of MongoDB from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, August 30th. UBS Group increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. Finally, Mizuho increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a "neutral" rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $337.56.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the completion of the sale, the director now owns 1,140,006 shares of the company's stock, valued at $263,341,386. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.23, for a total transaction of $1,261,150.00. Following the completion of the sale, the chief financial officer now owns 81,942 shares of the company's stock, valued at $20,668,230.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total value of $462,000.00. Following the sale, the director now directly owns 1,140,006 shares of the company's stock, valued at approximately $263,341,386. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $3,168,810 in the last quarter. 3.60% of the stock is currently owned by insiders.

MongoDB Stock Performance

MongoDB stock traded down $1.38 during mid-day trading on Thursday, hitting $253.00. 842,321 shares of the company's stock traded hands, compared to its average volume of 1,460,562. The firm has a 50 day simple moving average of $261.79 and a two-hundred day simple moving average of $291.81. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The stock has a market cap of $18.56 billion, a price-to-earnings ratio of -90.04 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same quarter last year, the firm posted ($0.63) EPS. The company's quarterly revenue was up 12.8% on a year-over-year basis. On average, research analysts expect that MongoDB, Inc. will post -2.44 EPS for the current fiscal year.

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.