Union Bancaire Privee UBP SA lowered its stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 44.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,456 shares of the company’s stock after selling 19,516 shares during the period. Union Bancaire Privee UBP SA’s holdings in MongoDB were worth $5,986,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also made changes to their positions in MDB. ValueAct Holdings L.P. grew its position in shares of MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after buying an additional 1,427,700 shares in the last quarter. State Street Corp lifted its stake in MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after acquiring an additional 40,219 shares during the last quarter. Amundi grew its holdings in MongoDB by 61.3% during the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after acquiring an additional 563,995 shares in the last quarter. Geode Capital Management LLC grew its holdings in MongoDB by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after acquiring an additional 9,693 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. grew its holdings in MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after acquiring an additional 852,540 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.
MongoDB Price Performance
NASDAQ MDB opened at $314.71 on Friday. The company has a fifty day moving average of $312.40 and a two-hundred day moving average of $332.51. The company has a market capitalization of $25.31 billion, a PE ratio of -850.56, a P/E/G ratio of 1,132.51 and a beta of 1.57. MongoDB, Inc. has a 1 year low of $198.47 and a 1 year high of $444.72.
Analyst Ratings Changes
MDB has been the topic of a number of analyst reports. The Goldman Sachs Group reduced their price objective on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a report on Wednesday, March 4th. Truist Financial dropped their target price on MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Weiss Ratings cut MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Wednesday, April 29th. Citizens Jmp reaffirmed a “market outperform” rating and set a $366.00 price objective on shares of MongoDB in a research report on Friday, May 29th. Finally, Bank of America increased their price objective on MongoDB from $390.00 to $450.00 and gave the company a “buy” rating in a report on Monday, June 8th. Twenty-seven equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $396.39.
Check Out Our Latest Analysis on MongoDB
Insider Activity at MongoDB
In other news, CFO Michael J. Berry sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the completion of the sale, the chief financial officer owned 1,500 shares in the company, valued at $534,945. This represents a 76.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $344.05, for a total value of $538,782.30. Following the sale, the director owned 25,444 shares of the company’s stock, valued at $8,754,008.20. This trade represents a 5.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 139,182 shares of company stock worth $49,910,727 in the last ninety days. Company insiders own 2.60% of the company’s stock.
MongoDB Company 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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