Victory Capital Management Inc. Cuts Holdings in MongoDB, Inc. (NASDAQ:MDB)

Victory Capital Management Inc. trimmed its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 2.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 57,127 shares of the company’s stock after selling 1,594 shares during the period. Victory Capital Management Inc.’s holdings in MongoDB were worth $15,444,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of MDB. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB in the 2nd quarter worth approximately $25,000. J.Safra Asset Management Corp grew its holdings in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after acquiring an additional 116 shares during the period. Quarry LP grew its holdings in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of MongoDB in the 2nd quarter worth approximately $35,000. Finally, GAMMA Investing LLC grew its holdings in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock worth $39,000 after acquiring an additional 93 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. DA Davidson upped their price target on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a report on Friday, August 30th. Piper Sandler increased their target price on MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Finally, Truist Financial increased their target price on MongoDB from $300.00 to $320.00 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, nineteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $336.54.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the completion of the sale, the director now directly owns 1,138,006 shares in the company, valued at $330,476,942.40. This trade represents a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 25,600 shares of company stock worth $7,034,249 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

MongoDB Trading Up 1.7 %

Shares of MDB opened at $289.15 on Wednesday. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The firm has a market capitalization of $21.36 billion, a P/E ratio of -95.74 and a beta of 1.15. The stock’s fifty day simple moving average is $278.06 and its 200 day simple moving average is $273.04. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 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 company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same period last year, the company posted ($0.63) earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. On average, equities research analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current year.

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.