AlphaCrest Capital Management LLC Cuts Holdings in MongoDB, Inc. (NASDAQ:MDB)

AlphaCrest Capital Management LLC cut its position in shares of MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 36.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,135 shares of the company’s stock after selling 1,199 shares during the quarter. AlphaCrest Capital Management LLC’s holdings in MongoDB were worth $424,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Armistice Capital LLC purchased a new position in MongoDB in the third quarter valued at about $5,361,000. Laurel Wealth Advisors Inc. boosted its stake in MongoDB by 14.8% in the third quarter. Laurel Wealth Advisors Inc. now owns 1,069 shares of the company’s stock valued at $213,000 after acquiring an additional 138 shares during the last quarter. Guggenheim Capital LLC boosted its stake in MongoDB by 10.9% in the third quarter. Guggenheim Capital LLC now owns 1,578 shares of the company’s stock valued at $313,000 after acquiring an additional 155 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in MongoDB by 8.5% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,379 shares of the company’s stock valued at $472,000 after acquiring an additional 186 shares during the last quarter. Finally, Aviva PLC boosted its stake in MongoDB by 2.4% in the third quarter. Aviva PLC now owns 9,152 shares of the company’s stock valued at $1,817,000 after acquiring an additional 218 shares during the last quarter. 84.86% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDB has been the topic of a number of research analyst reports. UBS Group boosted their target price on shares of MongoDB from $200.00 to $215.00 and gave the company a “buy” rating in a research note on Wednesday, December 7th. Credit Suisse Group dropped their price target on shares of MongoDB from $305.00 to $250.00 in a research note on Friday. The Goldman Sachs Group dropped their price target on shares of MongoDB from $325.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday. Citigroup dropped their price target on shares of MongoDB from $300.00 to $295.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Canaccord Genuity Group dropped their price target on shares of MongoDB from $300.00 to $270.00 and set a “buy” rating on the stock in a research note on Wednesday, December 7th. Four research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $253.87.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $194.08 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 4.10 and a quick ratio of 4.10. MongoDB, Inc. has a one year low of $135.15 and a one year high of $471.96. The company’s fifty day moving average price is $207.75 and its 200-day moving average price is $203.48. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of -38.51 and a beta of 1.00.

MongoDB (NASDAQ:MDB – Get Rating) last released its earnings results on Tuesday, December 6th. The company reported ($1.23) EPS for the quarter, beating the consensus estimate of ($1.48) by $0.25. MongoDB had a negative net margin of 26.90% and a negative return on equity of 49.53%. The company had revenue of $333.62 million for the quarter, compared to analyst estimates of $302.39 million. On average, equities research analysts anticipate that MongoDB, Inc. will post -4.64 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Thursday, December 15th. The shares were sold at an average price of $208.65, for a total transaction of $245,163.75. Following the transaction, the director now owns 7,674 shares of the company’s stock, valued at approximately $1,601,180.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other MongoDB news, CFO Michael Lawrence Gordon sold 2,060 shares of the business’s stock in a transaction dated Tuesday, January 3rd. The shares were sold at an average price of $199.31, for a total value of $410,578.60. Following the transaction, the chief financial officer now owns 88,302 shares in the company, valued at $17,599,471.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction dated Thursday, December 15th. The stock was sold at an average price of $208.65, for a total transaction of $245,163.75. Following the sale, the director now owns 7,674 shares of the company’s stock, valued at $1,601,180.10. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 112,169 shares of company stock valued at $22,836,007. Insiders own 5.70% of the company’s stock.

MongoDB Profile

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.