MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 9.9% in the fourth quarter, Holdings Channel.com reports. The fund owned 790 shares of the company’s stock after selling 87 shares during the quarter. Farther Finance Advisors LLC’s holdings in MongoDB were worth $184,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of MDB. Sequoia Financial Advisors LLC raised its stake in MongoDB by 18.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,328 shares of the company’s stock valued at $309,000 after purchasing an additional 211 shares during the period. HighTower Advisors LLC raised its stake in MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after purchasing an additional 372 shares during the period. Prosperity Wealth Management Inc. raised its stake in MongoDB by 43.1% during the 4th quarter. Prosperity Wealth Management Inc. now owns 2,139 shares of the company’s stock valued at $498,000 after purchasing an additional 644 shares during the period. AGF Management Ltd. acquired a new stake in MongoDB during the 4th quarter valued at $1,493,000. Finally, Daiwa Securities Group Inc. raised its stake in MongoDB by 6.4% during the 4th quarter. Daiwa Securities Group Inc. now owns 10,987 shares of the company’s stock valued at $2,558,000 after purchasing an additional 664 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Citigroup reissued a “buy” rating on shares of MongoDB in a research note on Thursday, March 6th. Barclays dropped their price target on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 6th. Bank of America dropped their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Piper Sandler dropped their price target on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

MongoDB Price Performance

MDB stock opened at $190.06 on Thursday. The company has a 50-day moving average of $253.21 and a two-hundred day moving average of $270.89. MongoDB, Inc. has a 52-week low of $173.13 and a 52-week high of $387.19. The stock has a market capitalization of $14.15 billion, a price-to-earnings ratio of -69.36 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released 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). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the previous year, the business posted $0.86 EPS. Equities analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 43,139 shares of company stock worth $11,328,869. Company 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.