DAVENPORT & Co LLC Cuts Position in MongoDB, Inc. (NASDAQ:MDB)

DAVENPORT & Co LLC decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 16.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,748 shares of the company’s stock after selling 529 shares during the quarter. DAVENPORT & Co LLC’s holdings in MongoDB were worth $640,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of MongoDB by 10.0% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 2,596 shares of the company’s stock valued at $604,000 after buying an additional 235 shares during the last quarter. China Universal Asset Management Co. Ltd. boosted its holdings in MongoDB by 28.3% in the fourth quarter. China Universal Asset Management Co. Ltd. now owns 1,202 shares of the company’s stock worth $280,000 after purchasing an additional 265 shares during the last quarter. Clear Creek Financial Management LLC purchased a new stake in MongoDB in the fourth quarter worth approximately $295,000. Forsta AP Fonden boosted its holdings in MongoDB by 26.3% in the fourth quarter. Forsta AP Fonden now owns 20,200 shares of the company’s stock worth $4,703,000 after purchasing an additional 4,200 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its holdings in MongoDB by 42.8% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 17,179 shares of the company’s stock worth $3,999,000 after purchasing an additional 5,147 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Down 0.1 %

Shares of NASDAQ MDB opened at $277.87 on Friday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The firm has a market cap of $20.69 billion, a PE ratio of -101.41 and a beta of 1.28. The business has a fifty day simple moving average of $267.97 and a two-hundred day simple moving average of $270.37.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company’s quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.96 EPS. On average, research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDB. Royal Bank of Canada increased their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Stifel Nicolaus increased their price target on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Rosenblatt Securities began coverage on shares of MongoDB in a research report on Tuesday, December 17th. They issued a “buy” rating and a $350.00 price target on the stock. Loop Capital increased their price target on shares of MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Finally, Piper Sandler reiterated an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $361.00.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,319 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $285.92, for a total value of $377,128.48. Following the completion of the sale, the director now owns 87,744 shares of the company’s stock, valued at approximately $25,087,764.48. This trade represents a 1.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,491 shares of company stock valued at $11,543,480. 3.60% of the stock is currently owned by insiders.

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.