Cibc World Markets Corp Lowers Position in MongoDB, Inc. (NASDAQ:MDB)

Cibc World Markets Corp reduced its stake in MongoDB, Inc. (NASDAQ:MDB) by 15.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,980 shares of the company’s stock after selling 913 shares during the period. Cibc World Markets Corp’s holdings in MongoDB were worth $1,159,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Principal Financial Group Inc. boosted its position in shares of MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after buying an additional 160 shares during the period. OneDigital Investment Advisors LLC lifted its stake in MongoDB by 18.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,005 shares of the company’s stock worth $272,000 after acquiring an additional 153 shares in the last quarter. Natixis Advisors LLC boosted its holdings in MongoDB by 51.5% during the 3rd quarter. Natixis Advisors LLC now owns 18,304 shares of the company’s stock valued at $4,948,000 after acquiring an additional 6,221 shares during the period. Banque Cantonale Vaudoise grew its position in MongoDB by 16.8% in the 3rd quarter. Banque Cantonale Vaudoise now owns 2,508 shares of the company’s stock valued at $678,000 after acquiring an additional 360 shares in the last quarter. Finally, Prospera Private Wealth LLC purchased a new stake in MongoDB during the third quarter worth about $100,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

MDB has been the subject of a number of research reports. Guggenheim upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a report on Monday, January 6th. Loop Capital cut their price objective on MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Bank of America reduced their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Piper Sandler lowered their target price on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group decreased 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 equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $320.70.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 885 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the transaction, the director now owns 83,845 shares in the company, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the sale, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,139 shares of company stock worth $11,328,869. 3.60% of the stock is owned by insiders.

MongoDB Stock Up 1.7 %

Shares of MDB stock opened at $192.54 on Friday. The stock’s 50-day moving average price is $250.97 and its 200 day moving average price is $269.65. The stock has a market capitalization of $14.34 billion, a PE ratio of -70.27 and a beta of 1.30. MongoDB, Inc. has a 52-week low of $173.13 and a 52-week high of $387.19.

MongoDB (NASDAQ:MDB) last released its 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 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 analyst estimates of $519.65 million. During the same period in the previous year, the firm posted $0.86 EPS. Analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB 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.