Gulf International Bank UK Ltd Cuts Holdings in MongoDB, Inc. (NASDAQ:MDB)

Gulf International Bank UK Ltd decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,580 shares of the company’s stock after selling 240 shares during the period. Gulf International Bank UK Ltd’s holdings in MongoDB were worth $1,508,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in MDB. Janney Montgomery Scott LLC purchased a new position in MongoDB in the third quarter worth about $861,000. Stephens Investment Management Group LLC boosted its position in shares of MongoDB by 22.8% during the third quarter. Stephens Investment Management Group LLC now owns 30,664 shares of the company’s stock valued at $8,290,000 after buying an additional 5,688 shares during the period. US Bancorp DE boosted its position in shares of MongoDB by 9.1% during the third quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $1,046,000 after buying an additional 324 shares during the period. First Trust Direct Indexing L.P. boosted its position in shares of MongoDB by 16.0% during the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the company’s stock valued at $510,000 after buying an additional 261 shares during the period. Finally, China Universal Asset Management Co. Ltd. boosted its position in shares of MongoDB by 112.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 937 shares of the company’s stock valued at $253,000 after buying an additional 496 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the subject of several recent analyst reports. UBS Group boosted their target price on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Stifel Nicolaus boosted their target price on MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Mizuho boosted their target price on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC boosted their price target on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $337.96.

Insiders Place Their Bets

In other MongoDB news, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 24,281 shares of company stock valued at $6,657,121. Company insiders own 3.60% of the company’s stock.

MongoDB Stock Performance

Shares of MDB stock opened at $294.12 on Friday. The business’s fifty day simple moving average is $277.73 and its 200-day simple moving average is $278.07. The company has a market cap of $21.73 billion, a PE ratio of -97.39 and a beta of 1.15. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $465.03 million. During the same period in the prior year, the firm posted ($0.63) earnings per share. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts expect that MongoDB, Inc. will post -2.39 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.