DNB Asset Management AS Sells 20,060 Shares of MongoDB, Inc. (NASDAQ:MDB)

DNB Asset Management AS lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 63.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 11,485 shares of the company’s stock after selling 20,060 shares during the period. DNB Asset Management AS’s holdings in MongoDB were worth $2,871,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Transcendent Capital Group LLC purchased a new position in shares of MongoDB during the 4th quarter valued at $25,000. Blue Trust Inc. lifted its position in shares of 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 acquiring an additional 75 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of MongoDB in the first quarter worth about $41,000. Sunbelt Securities Inc. raised its stake in MongoDB by 155.1% during the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock valued at $45,000 after purchasing an additional 76 shares during the period. Finally, GAMMA Investing LLC purchased a new position in MongoDB in the 4th quarter worth approximately $50,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on MDB shares. Loop Capital dropped their target price on shares of MongoDB from $415.00 to $315.00 and set a “buy” rating for the company in a research report on Friday, May 31st. DA Davidson upgraded shares of MongoDB from a “hold” rating to a “strong-buy” rating in a research report on Friday, May 31st. Oppenheimer dropped their target price on MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Bank of America cut their price target on shares of MongoDB from $500.00 to $470.00 and set a “buy” rating on the stock in a report on Friday, May 17th. Finally, Mizuho reduced their price objective on shares of 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 issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $355.74.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $1.72 during trading on Tuesday, reaching $223.22. 1,265,065 shares of the company traded hands, compared to its average volume of 1,527,525. The stock has a market cap of $16.37 billion, a P/E ratio of -79.44 and a beta of 1.13. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62. The firm’s fifty day simple moving average is $249.70 and its 200 day simple moving average is $340.31. 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 posted its earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). The firm had revenue of $450.56 million for the quarter, compared to analysts’ expectations of $438.44 million. MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. As a group, research analysts anticipate that MongoDB, Inc. will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.23, for a total value of $1,261,150.00. Following the completion of the transaction, the chief financial officer now directly owns 81,942 shares of the company’s stock, valued at approximately $20,668,230.66. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other MongoDB news, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $36,610.02. Following the completion of the sale, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.23, for a total value of $1,261,150.00. Following the transaction, the chief financial officer now owns 81,942 shares in the company, valued at approximately $20,668,230.66. The disclosure for this sale can be found here. Insiders sold a total of 28,179 shares of company stock worth $6,906,989 in the last 90 days. Insiders own 3.60% of the company’s stock.

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.