MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS lifted its position in MongoDB, Inc. (NASDAQ:MDB) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,604 shares of the company’s stock after acquiring an additional 292 shares during the period. DnB Asset Management AS’s holdings in MongoDB were worth $2,934,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank lifted its stake in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after purchasing an additional 42 shares during the last quarter. Aigen Investment Management LP lifted its position in MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock worth $913,000 after buying an additional 55 shares in the last quarter. Perigon Wealth Management LLC boosted its stake in MongoDB by 2.7% during the fourth quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock worth $627,000 after buying an additional 66 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in MongoDB by 1.6% in the 3rd quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock valued at $1,203,000 after buying an additional 72 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

MDB has been the topic of several analyst reports. Bank of America reduced their price target on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Truist Financial dropped their price target on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday. KeyCorp lowered shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Citigroup reiterated a “buy” rating on shares of MongoDB in a research report on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $319.87.

MongoDB Stock Performance

Shares of MDB opened at $175.40 on Tuesday. The stock has a 50-day simple moving average of $244.01 and a 200-day simple moving average of $265.11. MongoDB, Inc. has a 1 year low of $170.85 and a 1 year high of $387.19. The stock has a market capitalization of $14.24 billion, a PE ratio of -64.01 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the firm earned $0.86 EPS. Analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the sale, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. This represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock valued at $11,328,869 in the last ninety days. Insiders own 3.60% of the company’s stock.

About MongoDB

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.