Covestor Ltd Cuts Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Covestor Ltd reduced its stake in MongoDB, Inc. (NASDAQ:MDB) by 43.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 190 shares of the company’s stock after selling 148 shares during the quarter. Covestor Ltd’s holdings in MongoDB were worth $44,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Treasurer of the State of North Carolina boosted its stake in shares of MongoDB by 0.6% in the 4th quarter. Treasurer of the State of North Carolina now owns 31,942 shares of the company’s stock worth $7,436,000 after buying an additional 200 shares during the last quarter. Amitell Capital Pte Ltd lifted its holdings in MongoDB by 36.7% during the fourth quarter. Amitell Capital Pte Ltd now owns 18,625 shares of the company’s stock worth $4,336,000 after acquiring an additional 5,000 shares during the period. Cerity Partners LLC boosted its position in MongoDB by 6.4% in the fourth quarter. Cerity Partners LLC now owns 9,674 shares of the company’s stock worth $2,388,000 after purchasing an additional 580 shares during the last quarter. Polymer Capital Management HK LTD bought a new position in MongoDB in the 4th quarter valued at $917,000. Finally, Aster Capital Management DIFC Ltd purchased a new stake in shares of MongoDB during the 4th quarter valued at $97,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on MDB shares. Morgan Stanley cut their price target on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Wedbush reduced their target price on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Citigroup decreased their price target on shares of MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research note on Tuesday, April 1st. Truist Financial dropped their price objective on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. Finally, Macquarie decreased their target price on MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $306.55.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 57,015 shares of company stock worth $13,208,285 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

MongoDB Stock Performance

NASDAQ:MDB opened at $158.58 on Wednesday. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $387.19. The business has a 50 day moving average price of $215.59 and a 200-day moving average price of $254.53. The firm has a market cap of $12.87 billion, a PE ratio of -57.88 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the company posted $0.86 earnings per share. Research analysts predict 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.