MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Carnegie Investment Counsel

Carnegie Investment Counsel decreased its position in MongoDB, Inc. (NASDAQ:MDB) by 20.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,539 shares of the company’s stock after selling 635 shares during the quarter. Carnegie Investment Counsel’s holdings in MongoDB were worth $635,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in shares of MongoDB during the fourth quarter worth $326,237,000. Jennison Associates LLC grew its stake in MongoDB by 14.3% during the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after acquiring an additional 551,567 shares in the last quarter. Swedbank AB increased its holdings in shares of MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares during the period. Axiom Investors LLC DE acquired a new stake in shares of MongoDB during the fourth quarter worth approximately $153,990,000. Finally, Clearbridge Investments LLC grew its position in MongoDB by 109.0% during the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on MDB. Truist Financial dropped their price target on shares of MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Morgan Stanley lowered their price target on MongoDB from $455.00 to $320.00 and set an “overweight” rating for the company in a research note on Friday, May 31st. Guggenheim upgraded MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, June 3rd. Loop Capital cut their price target on shares of MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Finally, Citigroup decreased their price objective on shares of MongoDB from $480.00 to $350.00 and set a “buy” rating for the company in a report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $355.74.

Insider Activity

In related news, CAO Thomas Bull sold 138 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at $4,568,824.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other MongoDB news, CAO Thomas Bull sold 138 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the sale, the chief accounting officer now directly owns 17,222 shares in the company, valued at $4,568,824.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $234.24, for a total transaction of $468,480.00. Following the completion of the sale, the director now owns 1,146,784 shares in the company, valued at $268,622,684.16. The disclosure for this sale can be found here. Insiders have sold 30,179 shares of company stock valued at $7,368,989 over the last three months. 3.60% of the stock is owned by insiders.

MongoDB Price Performance

NASDAQ:MDB traded up $2.92 during mid-day trading on Wednesday, hitting $256.16. The company’s stock had a trading volume of 310,228 shares, compared to its average volume of 1,476,708. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week 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. The company has a market capitalization of $18.79 billion, a price-to-earnings ratio of -91.02 and a beta of 1.13. The stock has a fifty day moving average of $243.65 and a 200-day moving average of $325.96.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting the consensus estimate of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The business had revenue of $450.56 million for the quarter, compared to analysts’ expectations of $438.44 million. As a group, equities analysts forecast that MongoDB, Inc. will post -2.67 EPS for the current fiscal 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.