Sanctuary Advisors LLC Cuts Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Sanctuary Advisors LLC lowered its stake in MongoDB, Inc. (NASDAQ:MDB) by 57.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,456 shares of the company’s stock after selling 3,291 shares during the quarter. Sanctuary Advisors LLC’s holdings in MongoDB were worth $572,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MDB. Jennison Associates LLC raised its stake in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after buying an additional 294,228 shares in the last quarter. Avala Global LP bought a new position in shares of MongoDB in the 3rd quarter valued at about $47,960,000. Eagle Asset Management Inc. purchased a new position in MongoDB in the third quarter worth about $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in MongoDB during the third quarter worth approximately $25,636,000. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Cantor Fitzgerald initiated coverage on MongoDB in a report on Friday, January 17th. They issued an “overweight” rating and a $344.00 target price for the company. Royal Bank of Canada boosted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up previously from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Piper Sandler reiterated an “overweight” rating and set a $425.00 price target on shares of MongoDB in a report on Tuesday, December 10th. Finally, Tigress Financial raised their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $323.00, for a total value of $969,000.00. Following the completion of the sale, the director now owns 1,121,006 shares of the company’s stock, valued at approximately $362,084,938. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $58,121,799.12. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,314 shares of company stock valued at $13,494,863. 3.60% of the stock is currently owned by insiders.

MongoDB Price Performance

Shares of MDB stock opened at $267.43 on Friday. The company has a market cap of $19.92 billion, a P/E ratio of -97.60 and a beta of 1.28. The stock’s 50-day moving average is $262.73 and its 200 day moving average is $274.82. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $449.12.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate 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 firm earned $0.96 EPS. On average, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current 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.