Covestor Ltd Sells 258 Shares of MongoDB, Inc. (NASDAQ:MDB)

Covestor Ltd cut its stake in MongoDB, Inc. (NASDAQ:MDB) by 55.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 211 shares of the company’s stock after selling 258 shares during the period. Covestor Ltd’s holdings in MongoDB were worth $76,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in MDB. Transcendent Capital Group LLC acquired a new position in MongoDB in the fourth quarter valued at approximately $25,000. Blue Trust Inc. lifted its stake in MongoDB by 937.5% in the fourth quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after buying an additional 75 shares during the period. YHB Investment Advisors Inc. acquired a new position in MongoDB in the first quarter valued at approximately $41,000. GAMMA Investing LLC acquired a new position in MongoDB in the fourth quarter valued at approximately $50,000. Finally, Sunbelt Securities Inc. lifted its stake in MongoDB by 155.1% in the first quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock valued at $45,000 after buying an additional 76 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Morgan Stanley dropped their price target on MongoDB from $455.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. JMP Securities lowered their target price on MongoDB from $440.00 to $380.00 and set a “market outperform” rating on the stock in a research report on Friday, May 31st. Piper Sandler lowered their target price on MongoDB from $350.00 to $300.00 and set an “overweight” rating on the stock in a research report on Friday, July 12th. KeyCorp lowered their target price on MongoDB from $490.00 to $440.00 and set an “overweight” rating on the stock in a research report on Thursday, April 18th. Finally, Mizuho lowered their target price on MongoDB from $380.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $355.74.

MongoDB Stock Down 4.7 %

NASDAQ MDB opened at $244.54 on Thursday. The business’s fifty day moving average is $265.89 and its 200-day moving average is $347.72. MongoDB, Inc. has a one year low of $214.74 and a one year high of $509.62. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting the consensus estimate of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The company had revenue of $450.56 million during the quarter, compared to analyst estimates of $438.44 million. As a group, equities research analysts anticipate that MongoDB, Inc. will post -2.67 earnings per share for the current year.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the transaction, the chief accounting officer now owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other MongoDB news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the transaction, the chief accounting officer now owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dev Ittycheria sold 3,025 shares of MongoDB stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $802,502.25. Following the sale, the chief executive officer now owns 223,048 shares of the company’s stock, valued at approximately $59,172,403.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 35,179 shares of company stock valued at $9,535,839. 3.60% of the stock is owned by 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.