Proficio Capital Partners LLC Invests $10.14 Million in MongoDB, Inc. (NASDAQ:MDB)

Proficio Capital Partners LLC purchased 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 firm purchased 43,535 shares of the company's stock, valued at approximately $10,135,000. Proficio Capital Partners LLC owned 0.06% of MongoDB as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in MDB. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of MongoDB in the fourth quarter worth about $606,000. Aigen Investment Management LP acquired a new stake in MongoDB in the third quarter valued at approximately $1,045,000. Geode Capital Management LLC lifted its position in shares of MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock worth $331,776,000 after purchasing an additional 34,814 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of MongoDB during the third quarter worth $4,366,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of MongoDB by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company's stock valued at $75,271,000 after purchasing an additional 7,575 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Stock Down 24.8 %

MDB stock traded down $65.40 during trading on Thursday, reaching $198.73. 9,309,538 shares of the company's stock were exchanged, compared to its average volume of 1,636,309. MongoDB, Inc. has a 1-year low of $198.38 and a 1-year high of $424.00. The firm has a market cap of $14.80 billion, a PE ratio of -73.01 and a beta of 1.30. The company's fifty day moving average price is $263.70 and its 200-day moving average price is $275.28.

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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 company had revenue of $548.40 million during 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 period in the previous year, the company earned $0.86 EPS. As a group, sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on MDB. Royal Bank of Canada cut their price objective on shares of MongoDB from $400.00 to $320.00 and set an "outperform" rating on the stock in a report on Thursday. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They issued a "neutral" rating and a $300.00 price target on the stock. Oppenheimer lowered their price objective on MongoDB from $400.00 to $330.00 and set an "outperform" rating for the company in a research note on Thursday. Bank of America reduced their target price on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research note on Thursday. Finally, Barclays dropped their price target on shares of MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of "Moderate Buy" and an average price target of $323.74.

Insider Activity

In related news, insider Cedric Pech sold 287 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now owns 24,390 shares of the company's stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 2,581 shares of the business's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $604,186.29. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at approximately $50,866,352.46. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,314 shares of company stock worth $13,337,753 over the last three months. Corporate insiders own 3.60% of the company's stock.

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.