Norges Bank Buys New Holdings in MongoDB, Inc. (NASDAQ:MDB)

Norges Bank bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 814,331 shares of the company's stock, valued at approximately $189,584,000. Norges Bank owned 1.09% of MongoDB at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of MongoDB during the 4th quarter worth approximately $606,000. Geode Capital Management LLC raised its stake in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after buying an additional 34,814 shares in the last quarter. Union Bancaire Privee UBP SA bought a new position in shares of MongoDB during the 4th quarter worth about $3,515,000. Nisa Investment Advisors LLC boosted its position in shares of MongoDB by 428.0% during the 4th 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 in the last quarter. Finally, HighTower Advisors LLC increased its stake in MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock valued at $4,371,000 after acquiring an additional 372 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MDB. Canaccord Genuity Group decreased their price objective on MongoDB from $385.00 to $320.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company cut MongoDB from an "overweight" rating to an "equal weight" rating and lowered their price target for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Loop Capital cut their price objective on MongoDB from $400.00 to $350.00 and set a "buy" rating for the company in a report on Monday, March 3rd. Cantor Fitzgerald initiated coverage on shares of MongoDB in a report on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 target price on the stock. Finally, Oppenheimer cut their price target on shares of MongoDB from $400.00 to $330.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Seven research 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 company's stock. According to data from MarketBeat.com, MongoDB presently has an average rating of "Moderate Buy" and an average target price of $312.84.

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Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company's stock, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the transaction, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 35,857 shares of company stock worth $9,613,306. Corporate insiders own 3.60% of the company's stock.

MongoDB Trading Down 9.5 %

Shares of NASDAQ:MDB traded down $17.15 during trading on Thursday, hitting $163.04. 2,137,878 shares of the company's stock traded hands, compared to its average volume of 1,744,871. The company has a 50-day moving average price of $240.77 and a 200-day moving average price of $263.72. MongoDB, Inc. has a 52 week low of $160.47 and a 52 week high of $387.19. The company has a market cap of $13.24 billion, a price-to-earnings ratio of -59.50 and a beta of 1.30.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results 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 company had revenue of $548.40 million during the quarter, compared to analyst estimates 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 quarter last year, the company earned $0.86 EPS. On average, analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB 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.