Gilder Gagnon Howe & Co. LLC Reduces Stake in Mongodb Inc (NASDAQ:MDB)
Gilder Gagnon Howe & Co. LLC lowered its stake in shares of Mongodb Inc (NASDAQ:MDB) by 2.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,357,916 shares of the company’s stock after selling 32,682 shares during the quarter. Mongodb comprises about 2.1% of Gilder Gagnon Howe & Co. LLC’s holdings, making the stock its 7th largest position. Gilder Gagnon Howe & Co. LLC’s holdings in Mongodb were worth $199,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund acquired a new stake in Mongodb during the 4th quarter worth approximately $33,000. American Century Companies Inc. acquired a new stake in Mongodb during the 4th quarter worth approximately $64,633,000. FMR LLC increased its position in Mongodb by 12.5% during the 4th quarter. FMR LLC now owns 5,275,057 shares of the company’s stock worth $441,732,000 after purchasing an additional 586,841 shares in the last quarter. FIL Ltd acquired a new stake in Mongodb during the 1st quarter worth approximately $82,626,000. Finally, JPMorgan Chase & Co. increased its position in Mongodb by 146.9% during the 1st quarter. JPMorgan Chase & Co. now owns 794,387 shares of the company’s stock worth $116,790,000 after purchasing an additional 472,602 shares in the last quarter. 65.95% of the stock is owned by institutional investors.
A number of analysts recently issued reports on the stock. Morgan Stanley set a $156.00 target price on shares of Mongodb and gave the stock a “hold” rating in a research report on Friday, June 7th. Nomura upped their price target on Mongodb from $70.00 to $76.00 and gave the stock a “reduce” rating in a report on Thursday, June 6th. DA Davidson upped their price target on Mongodb to $140.00 and gave the stock a “neutral” rating in a report on Thursday, June 6th. They noted that the move was a valuation call. KeyCorp upped their price target on Mongodb from $150.00 to $165.00 and gave the stock an “overweight” rating in a report on Thursday, June 6th. Finally, Monness Crespi & Hardt restated a “buy” rating and issued a $185.00 price target (up previously from $150.00) on shares of Mongodb in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $137.00.
Mongodb (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, June 5th. The company reported ($0.22) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.24) by $0.02. The firm had revenue of $89.40 million during the quarter, compared to analysts’ expectations of $83.50 million. Mongodb had a negative return on equity of 44.47% and a negative net margin of 39.68%. Mongodb’s quarterly revenue was up 78.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.43) EPS. As a group, sell-side analysts forecast that Mongodb Inc will post -2.07 earnings per share for the current fiscal year.
In other news, CRO Cedric Pech sold 29,809 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $180.86, for a total transaction of $5,391,255.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 21,410 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $146.78, for a total value of $3,142,559.80. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 148,634 shares of company stock valued at $22,362,749. Company insiders own 25.08% of the company’s stock.
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Mongodb Company Profile
MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.
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