Victory Capital Management Inc. Cuts Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Victory Capital Management Inc. lessened its holdings in MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 50.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 39,542 shares of the company’s stock after selling 40,597 shares during the period. Victory Capital Management Inc. owned about 0.06% of MongoDB worth $8,368,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Ieq Capital LLC increased its stake in MongoDB by 23.2% during the 3rd quarter. Ieq Capital LLC now owns 1,962 shares of the company’s stock worth $390,000 after buying an additional 370 shares during the period. Skandinaviska Enskilda Banken AB publ increased its stake in MongoDB by 2.5% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 11,467 shares of the company’s stock worth $2,256,000 after buying an additional 277 shares during the period. Lindbrook Capital LLC increased its stake in MongoDB by 350.0% during the 4th quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock worth $34,000 after buying an additional 133 shares during the period. Asset Management One Co. Ltd. increased its position in shares of MongoDB by 3.1% in the 3rd quarter. Asset Management One Co. Ltd. now owns 61,243 shares of the company’s stock worth $12,106,000 after purchasing an additional 1,829 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its position in shares of MongoDB by 14.8% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 4,672 shares of the company’s stock worth $927,000 after purchasing an additional 602 shares during the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on MDB shares. JMP Securities upped their price target on shares of MongoDB from $215.00 to $245.00 and gave the stock a “market outperform” rating in a research note on Thursday, March 9th. Morgan Stanley raised shares of MongoDB from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $230.00 to $270.00 in a research note on Wednesday, April 12th. Piper Sandler reaffirmed an “overweight” rating and issued a $270.00 price target on shares of MongoDB in a research note on Thursday, March 9th. Sanford C. Bernstein began coverage on shares of MongoDB in a research note on Friday, February 17th. They issued an “outperform” rating and a $282.00 price target for the company. Finally, Stifel Nicolaus dropped their target price on shares of MongoDB from $256.00 to $240.00 in a report on Thursday, February 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $257.00.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 49,249 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $227.55, for a total transaction of $11,206,609.95. Following the completion of the sale, the chief executive officer now directly owns 222,311 shares of the company’s stock, valued at approximately $50,586,868.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CRO Cedric Pech sold 720 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $228.33, for a total transaction of $164,397.60. Following the completion of the transaction, the executive now directly owns 53,050 shares in the company, valued at approximately $12,112,906.50. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 49,249 shares of the company’s stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $227.55, for a total transaction of $11,206,609.95. Following the transaction, the chief executive officer now owns 222,311 shares of the company’s stock, valued at $50,586,868.05. The disclosure for this sale can be found here. In the last three months, insiders sold 135,108 shares of company stock valued at $30,127,927. Company insiders own 4.80% of the company’s stock.

MongoDB Stock Up 2.6 %

MDB stock opened at $284.91 on Friday. The company has a debt-to-equity ratio of 1.54, a current ratio of 3.80 and a quick ratio of 3.80. MongoDB, Inc. has a 12 month low of $135.15 and a 12 month high of $390.84. The firm has a 50 day moving average of $235.49 and a two-hundred day moving average of $207.97.

MongoDB (NASDAQ:MDB – Get Rating) last posted its earnings results on Wednesday, March 8th. The company reported ($0.98) EPS for the quarter, topping the consensus estimate of ($1.18) by $0.20. The company had revenue of $361.31 million during the quarter, compared to the consensus estimate of $335.84 million. MongoDB had a negative net margin of 26.90% and a negative return on equity of 48.38%. On average, sell-side analysts predict that MongoDB, Inc. will post -4.04 earnings per share for the current year.

About MongoDB

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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.