Arthedge Capital Management LLC decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 15.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,600 shares of the company’s stock after selling 4,600 shares during the period. MongoDB makes up approximately 7.0% of Arthedge Capital Management LLC’s investment portfolio, making the stock its 7th biggest position. Arthedge Capital Management LLC’s holdings in MongoDB were worth $10,744,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division purchased a new position in shares of MongoDB during the fourth quarter valued at about $28,000. Cornerstone Planning Group LLC grew its position in MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock worth $27,000 after acquiring an additional 61 shares in the last quarter. International Assets Investment Management LLC purchased a new position in MongoDB in the fourth quarter worth about $33,000. Root Financial Partners LLC grew its position in MongoDB by 58.2% in the fourth quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after acquiring an additional 32 shares in the last quarter. Finally, Global Trust Asset Management LLC purchased a new position in MongoDB in the fourth quarter worth about $38,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.
MongoDB Price Performance
Shares of NASDAQ MDB opened at $334.69 on Thursday. The firm has a 50-day simple moving average of $301.54 and a two-hundred day simple moving average of $335.27. MongoDB, Inc. has a 1 year low of $196.00 and a 1 year high of $444.72. The company has a market cap of $26.92 billion, a P/E ratio of -904.57, a PEG ratio of 1,258.00 and a beta of 1.57.
Insider Activity
In other news, Director Hope F. Cochran sold 1,000 shares of MongoDB stock in a transaction that occurred on Friday, May 29th. The shares were sold at an average price of $350.00, for a total transaction of $350,000.00. Following the completion of the sale, the director owned 27,010 shares of the company’s stock, valued at approximately $9,453,500. The trade was a 3.57% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the sale, the director directly owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This represents a 19.83% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 137,616 shares of company stock valued at $49,371,944. Insiders own 2.60% of the company’s stock.
Analyst Ratings Changes
MDB has been the subject of several recent research reports. Royal Bank Of Canada reiterated an “outperform” rating and issued a $395.00 price target on shares of MongoDB in a research report on Tuesday, May 19th. Zacks Research upgraded MongoDB from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Citizens Jmp reiterated a “market outperform” rating and issued a $366.00 price target on shares of MongoDB in a research report on Friday, May 29th. DA Davidson reiterated a “buy” rating and issued a $375.00 price target on shares of MongoDB in a research report on Friday, May 29th. Finally, Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research report on Friday, May 29th. Twenty-eight investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $396.39.
Read Our Latest Stock Report on MongoDB
MongoDB Profile
MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.
The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.
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