Ingalls & Snyder LLC Trims Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Ingalls & Snyder LLC cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 85.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 24,575 shares of the company’s stock after selling 145,017 shares during the quarter. Ingalls & Snyder LLC’s holdings in MongoDB were worth $5,721,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Hilltop National Bank increased its holdings in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the period. Brooklyn Investment Group purchased a new position in MongoDB during the third quarter valued at approximately $36,000. Continuum Advisory LLC increased its holdings in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the period. GAMMA Investing LLC increased its holdings in MongoDB by 178.8% during the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in MongoDB during the third quarter valued at approximately $44,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on MDB. Rosenblatt Securities began coverage on shares of MongoDB in a report on Tuesday, December 17th. They set a “buy” rating and a $350.00 price objective on the stock. Macquarie began coverage on shares of MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 target price for the company. Stifel Nicolaus raised their target price on shares of MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, December 9th. Mizuho raised their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Finally, Cantor Fitzgerald began coverage on shares of MongoDB in a research note on Friday, January 17th. They set an “overweight” rating and a $344.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $361.00.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 1,319 shares of MongoDB stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $285.92, for a total value of $377,128.48. Following the sale, the director now owns 87,744 shares of the company’s stock, valued at $25,087,764.48. The trade was a 1.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares in the company, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 44,413 shares of company stock valued at $12,082,421. Insiders own 3.60% of the company’s stock.

MongoDB Price Performance

Shares of MDB stock opened at $292.46 on Thursday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $488.00. The firm has a 50 day moving average of $265.54 and a two-hundred day moving average of $271.27.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same period last year, the business earned $0.96 EPS. The company’s revenue was up 22.3% on a year-over-year basis. As a group, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

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.