Mirae Asset Global Investments Co. Ltd. Sells 63,905 Shares of MongoDB, Inc. (NASDAQ:MDB)

Mirae Asset Global Investments Co. Ltd. cut its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 79.5% in the first quarter, HoldingsChannel reports. The firm owned 16,481 shares of the company’s stock after selling 63,905 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in MongoDB were worth $5,911,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its position in MongoDB by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after purchasing an additional 194,148 shares in the last quarter. Raymond James & Associates increased its holdings in shares of MongoDB by 14.2% in the 4th quarter. Raymond James & Associates now owns 60,557 shares of the company’s stock valued at $24,759,000 after acquiring an additional 7,510 shares during the period. Nordea Investment Management AB increased its holdings in shares of MongoDB by 298.2% in the 4th quarter. Nordea Investment Management AB now owns 18,657 shares of the company’s stock valued at $7,735,000 after acquiring an additional 13,972 shares during the period. Assenagon Asset Management S.A. increased its holdings in shares of MongoDB by 1,196.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 29,215 shares of the company’s stock valued at $11,945,000 after acquiring an additional 26,961 shares during the period. Finally, Atalanta Sosnoff Capital LLC increased its holdings in shares of MongoDB by 24.7% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock valued at $22,205,000 after acquiring an additional 10,753 shares during the period. 89.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CRO Cedric Pech sold 273 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $72,424.17. Following the completion of the transaction, the executive now owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CRO Cedric Pech sold 273 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $72,424.17. Following the completion of the transaction, the executive now owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of the company’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $374.95, for a total value of $2,249,700.00. Following the completion of the transaction, the director now directly owns 1,148,784 shares of the company’s stock, valued at approximately $430,736,560.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 30,179 shares of company stock valued at $8,274,689. 3.60% of the stock is owned by company insiders.

MongoDB Stock Performance

Shares of MDB stock opened at $246.18 on Thursday. The stock has a market cap of $18.06 billion, a PE ratio of -87.61 and a beta of 1.13. The business has a 50-day simple moving average of $287.41 and a 200-day simple moving average of $357.76. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. MongoDB, Inc. has a 52-week low of $214.74 and a 52-week high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.80). The business had revenue of $450.56 million during 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%. On average, equities analysts expect that MongoDB, Inc. will post -2.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Piper Sandler cut their price target on MongoDB from $480.00 to $350.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Canaccord Genuity Group cut their price target on MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Redburn Atlantic restated a “sell” rating and set a $295.00 target price (down from $410.00) on shares of MongoDB in a research note on Tuesday, March 19th. Stifel Nicolaus dropped their target price on MongoDB from $435.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Finally, Monness Crespi & Hardt upgraded MongoDB to a “hold” rating in a research note on Tuesday, May 28th. One investment 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $361.30.

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.