Plato Investment Management Ltd Cuts Position in MongoDB, Inc. (NASDAQ:MDB)

Plato Investment Management Ltd reduced its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 16.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 902 shares of the company’s stock after selling 176 shares during the quarter. Plato Investment Management Ltd’s holdings in MongoDB were worth $244,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in MDB. Empowered Funds LLC boosted its position in shares of MongoDB by 75.4% in the first quarter. Empowered Funds LLC now owns 1,121 shares of the company’s stock worth $402,000 after buying an additional 482 shares during the period. Intech Investment Management LLC lifted its position in MongoDB by 40.0% during the 1st quarter. Intech Investment Management LLC now owns 5,814 shares of the company’s stock worth $2,085,000 after acquiring an additional 1,661 shares in the last quarter. Vanguard Group Inc. boosted its holdings in MongoDB by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock worth $2,478,475,000 after acquiring an additional 68,348 shares during the period. Cynosure Group LLC acquired a new stake in MongoDB in the first quarter valued at approximately $313,000. Finally, Champlain Investment Partners LLC raised its stake in shares of MongoDB by 22.4% during the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock valued at $197,497,000 after purchasing an additional 100,725 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on MDB. Sanford C. Bernstein upped their target price on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Scotiabank upped their price objective on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Piper Sandler lifted their target price on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Wells Fargo & Company boosted their price target on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, JMP Securities reissued a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong 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 $336.54.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $279.77 on Friday. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The firm’s 50-day moving average price is $278.14 and its two-hundred day moving average price is $275.57. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62. The stock has a market capitalization of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same quarter last year, the business posted ($0.63) EPS. The business’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $269.57, for a total value of $808,710.00. Following the transaction, the director now directly owns 1,127,006 shares in the company, valued at $303,807,007.42. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,281 shares of company stock worth $6,657,121. 3.60% of the stock is owned by insiders.

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.