MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Nicholas Investment Partners LP

Nicholas Investment Partners LP lowered its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 99.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 8,373 shares of the company’s stock after selling 1,691,627 shares during the period. Nicholas Investment Partners LP’s holdings in MongoDB were worth $1,949,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB during the 4th quarter valued at approximately $29,000. NCP Inc. acquired a new position in shares of MongoDB in the fourth quarter worth $35,000. Coppell Advisory Solutions LLC raised its holdings in MongoDB by 364.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after acquiring an additional 182 shares during the period. Smartleaf Asset Management LLC increased its stake in MongoDB by 56.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock valued at $87,000 after acquiring an additional 134 shares during the period. Finally, Manchester Capital Management LLC increased its holdings in shares of MongoDB by 57.4% during the fourth quarter. Manchester Capital Management LLC now owns 384 shares of the company’s stock worth $89,000 after buying an additional 140 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the sale, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 885 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares of the company’s stock, valued at approximately $24,486,932.25. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,423 shares of company stock worth $7,148,369 in the last 90 days. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. China Renaissance started coverage on MongoDB in a report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Needham & Company LLC decreased their target price on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Piper Sandler lowered their price objective on MongoDB from $280.00 to $200.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 23rd. Truist Financial reduced their price target on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Finally, Canaccord Genuity Group cut their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $294.78.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $195.90 on Wednesday. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $379.06. The company has a 50-day simple moving average of $174.62 and a 200-day simple moving average of $241.04. The company has a market cap of $15.90 billion, a PE ratio of -71.50 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the business earned $0.86 EPS. On average, analysts anticipate that MongoDB, Inc. will post -1.78 EPS 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.