MongoDB, Inc. $MDB Stake Lowered by Korea Investment CORP

Korea Investment CORP trimmed its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.2% during the third quarter, Holdings Channel reports. The firm owned 60,966 shares of the company’s stock after selling 4,699 shares during the period. Korea Investment CORP’s holdings in MongoDB were worth $18,923,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in MDB. Huntington National Bank boosted its position in MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. TD Private Client Wealth LLC lifted its stake in MongoDB by 2,825.0% in the third quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after buying an additional 113 shares during the last quarter. Hollencrest Capital Management bought a new stake in MongoDB in the third quarter valued at $37,000. Westside Investment Management Inc. boosted its holdings in shares of MongoDB by 82.1% during the third quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock valued at $39,000 after acquiring an additional 55 shares during the period. Finally, Parkside Financial Bank & Trust boosted its holdings in shares of MongoDB by 85.5% during the third quarter. Parkside Financial Bank & Trust now owns 141 shares of the company’s stock valued at $44,000 after acquiring an additional 65 shares during the period. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the sale, the director directly owned 25,659 shares in the company, valued at $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction on Friday, December 12th. The shares were sold at an average price of $417.83, for a total value of $4,178,300.00. Following the transaction, the director directly owned 1,041,316 shares of the company’s stock, valued at approximately $435,093,064.28. The trade was a 0.95% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 31,949 shares of company stock worth $13,159,930 in the last quarter. Company insiders own 3.10% of the company’s stock.

MongoDB Stock Down 0.4%

MDB stock opened at $270.56 on Wednesday. The company has a 50-day simple moving average of $363.02 and a 200 day simple moving average of $353.67. The company has a market capitalization of $22.02 billion, a P/E ratio of -307.45, a PEG ratio of 405.31 and a beta of 1.40. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $444.72.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter last year, the company earned $1.28 EPS. MongoDB’s quarterly revenue was up 26.8% on a year-over-year basis. Equities analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

MDB has been the topic of a number of analyst reports. Oppenheimer dropped their price objective on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Cantor Fitzgerald reduced their target price on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Bank of America restated a “buy” rating on shares of MongoDB in a research report on Tuesday, March 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of MongoDB in a research note on Monday, December 29th. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $260.00 price target (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $354.18.

About MongoDB

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.