Swiss National Bank Trims Stake in MongoDB, Inc. $MDB

Swiss National Bank lowered its position in MongoDB, Inc. (NASDAQ:MDB) by 4.2% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 235,500 shares of the company’s stock after selling 10,200 shares during the period. Swiss National Bank owned 0.29% of MongoDB worth $73,094,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in MDB. Meiji Yasuda Asset Management Co Ltd. raised its holdings in MongoDB by 3.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock worth $342,000 after purchasing an additional 40 shares in the last quarter. Huntington National Bank boosted its holdings in shares of 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 buying an additional 51 shares in the last quarter. GAMMA Investing LLC grew its position in shares of MongoDB by 46.2% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $53,000 after buying an additional 54 shares during the period. Westside Investment Management Inc. grew its position in shares of MongoDB by 82.1% in the 3rd quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after buying an additional 55 shares during the period. Finally, WPG Advisers LLC increased its stake in shares of MongoDB by 53.7% in the 3rd quarter. WPG Advisers LLC now owns 166 shares of the company’s stock worth $52,000 after acquiring an additional 58 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Up 0.0%

Shares of NASDAQ MDB opened at $270.57 on Thursday. The firm has a market cap of $22.02 billion, a P/E ratio of -307.47 and a beta of 1.40. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $444.72. The company has a 50 day moving average of $360.04 and a 200 day moving average of $353.08.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $669.40 million. During the same quarter last year, the firm posted $1.28 EPS. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. As a group, equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on MDB shares. Truist Financial dropped their price objective on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Oppenheimer decreased their target price on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Mizuho dropped their price target on MongoDB from $380.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. The Goldman Sachs Group cut their price target on MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Finally, UBS Group reduced their price objective on MongoDB from $440.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $354.18.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the sale, the director owned 80,462 shares of the company’s stock, valued at $29,750,824.50. The trade was a 1.46% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction 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 transaction, the director directly owned 25,659 shares in the company, valued at approximately $10,824,249.15. This represents a 5.75% 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 valued at $13,159,930 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

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.