Covestor Ltd Decreases Position in MongoDB, Inc. (NASDAQ:MDB)

Covestor Ltd decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 43.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & 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 filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank boosted its holdings in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. bought a new position in MongoDB during the fourth quarter valued at approximately $35,000. Wilmington Savings Fund Society FSB purchased a new stake in MongoDB in the third quarter worth approximately $44,000. Versant Capital Management Inc grew its position in MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after purchasing an additional 165 shares during the period. Finally, Morse Asset Management Inc purchased a new stake in MongoDB during the 3rd quarter valued at $81,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Trading Up 0.3 %

MongoDB stock opened at $158.58 on Wednesday. The firm has a market capitalization of $12.87 billion, a PE ratio of -57.88 and a beta of 1.49. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $387.19. The firm has a 50-day moving average price of $215.59 and a 200-day moving average price of $254.53.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the business earned $0.86 EPS. As a group, sell-side analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDB. Scotiabank reaffirmed a “sector perform” rating and issued a $240.00 price objective (down previously from $275.00) on shares of MongoDB in a report on Wednesday, March 5th. Bank of America reduced their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Morgan Stanley cut their price objective on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Truist Financial lowered their target price 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, KeyCorp cut MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Seven investment 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $306.55.

Insider Activity at MongoDB

In other news, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now owns 6,406 shares of the company’s stock, valued at approximately $1,109,903.56. This represents a 7.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the sale, the insider now owns 57,634 shares of the company’s stock, valued at $9,985,666.84. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 57,015 shares of company stock worth $13,208,285 in the last quarter. 3.60% of the stock is owned by company insiders.

MongoDB Company 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.