MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Magnetar Financial LLC

Magnetar Financial LLC lowered its position in MongoDB, Inc. (NASDAQ:MDB) by 99.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 3,251 shares of the company’s stock after selling 2,496,749 shares during the period. Magnetar Financial LLC’s holdings in MongoDB were worth $757,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. Royal London Asset Management Ltd. raised its position in MongoDB by 8.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 30,096 shares of the company’s stock worth $7,007,000 after acquiring an additional 2,266 shares during the period. Kazazian Asset Management LLC acquired a new position in MongoDB during the fourth quarter worth $1,229,000. Harvest Fund Management Co. Ltd raised its position in MongoDB by 27.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 4,347 shares of the company’s stock worth $1,005,000 after acquiring an additional 944 shares during the period. Glynn Capital Management LLC raised its position in MongoDB by 1.5% during the fourth quarter. Glynn Capital Management LLC now owns 84,880 shares of the company’s stock worth $19,761,000 after acquiring an additional 1,271 shares during the period. Finally, Vinva Investment Management Ltd acquired a new position in MongoDB during the fourth quarter worth $420,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. The trade was a 3.69 % 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 169 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,139 shares of company stock worth $11,328,869. Corporate insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on MDB. Wedbush reduced their price objective on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Scotiabank reissued a “sector perform” rating and issued a $240.00 price objective (down from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Mizuho increased their price objective on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Bank of America reduced their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group reduced their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note 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 stock. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $320.70.

MongoDB Stock Performance

MongoDB stock opened at $192.54 on Friday. MongoDB, Inc. has a fifty-two week low of $173.13 and a fifty-two week high of $387.19. The firm has a 50 day moving average price of $250.97 and a 200 day moving average price of $269.65. The company has a market capitalization of $14.34 billion, a PE ratio of -70.27 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter last year, the business posted $0.86 EPS. As a group, equities research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current 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.