Penserra Capital Management LLC Sells 7,633 Shares of MongoDB, Inc. (NASDAQ:MDB)

Penserra Capital Management LLC reduced its position in MongoDB, Inc. (NASDAQ:MDB) by 48.6% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,075 shares of the company’s stock after selling 7,633 shares during the period. Penserra Capital Management LLC’s holdings in MongoDB were worth $2,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDB. Aigen Investment Management LP purchased a new position in MongoDB during the 3rd quarter worth $1,045,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of MongoDB during the third quarter worth about $4,366,000. Sanctuary Advisors LLC acquired a new position in shares of MongoDB during the second quarter valued at about $1,860,000. Sycomore Asset Management raised its position in shares of MongoDB by 86.4% in the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock valued at $12,884,000 after purchasing an additional 24,827 shares during the last quarter. Finally, Cetera Investment Advisers boosted its stake in MongoDB by 327.6% in the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock worth $3,899,000 after purchasing an additional 8,330 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Wells Fargo & Company lifted their price target on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Truist Financial boosted their price target on MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Sanford C. Bernstein raised their price objective on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Finally, Bank of America increased their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.54.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the completion of the transaction, the director now directly owns 1,138,006 shares of the company’s stock, valued at approximately $330,476,942.40. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 25,600 shares of company stock valued at $7,034,249 in the last ninety days. Company insiders own 3.60% of the company’s stock.

MongoDB Price Performance

Shares of MDB stock opened at $341.36 on Tuesday. The firm’s 50-day moving average is $279.98 and its two-hundred day moving average is $271.41. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The company has a market capitalization of $25.22 billion, a PE ratio of -113.03 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same period last year, the company earned ($0.63) EPS. The company’s quarterly revenue was up 12.8% on a year-over-year basis. Analysts predict that MongoDB, Inc. will post -2.39 earnings per share for the current year.

MongoDB 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.