Mercer Global Advisors Inc. ADV Sells 1,233 Shares of MongoDB, Inc. (NASDAQ:MDB)

Mercer Global Advisors Inc. ADV lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 23.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,973 shares of the company’s stock after selling 1,233 shares during the quarter. Mercer Global Advisors Inc. ADV’s holdings in MongoDB were worth $993,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SYSTM Wealth Solutions LLC grew its stake in MongoDB by 68.0% in the second quarter. SYSTM Wealth Solutions LLC now owns 11,338 shares of the company’s stock valued at $2,834,000 after purchasing an additional 4,588 shares during the last quarter. Primecap Management Co. CA grew its position in shares of MongoDB by 5.3% in the 2nd quarter. Primecap Management Co. CA now owns 70,700 shares of the company’s stock worth $17,672,000 after buying an additional 3,550 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of MongoDB by 828.9% during the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after acquiring an additional 163,300 shares in the last quarter. Sierra Summit Advisors LLC purchased a new stake in MongoDB during the second quarter valued at approximately $6,012,000. Finally, Dimensional Fund Advisors LP boosted its stake in MongoDB by 19.2% in the second quarter. Dimensional Fund Advisors LP now owns 111,487 shares of the company’s stock valued at $27,865,000 after acquiring an additional 17,990 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MDB shares. Needham & Company LLC increased their price objective on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Canaccord Genuity Group lowered their price target on MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a report on Friday, May 31st. Barclays cut their price objective on shares of MongoDB from $458.00 to $290.00 and set an “overweight” rating on the stock in a report on Friday, May 31st. Robert W. Baird dropped their target price on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Finally, Piper Sandler raised their price target on shares of MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $337.56.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $1,061,160.00. Following the sale, the director now directly owns 1,142,006 shares in the company, valued at approximately $302,962,771.74. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other MongoDB news, Director Dwight A. Merriman sold 4,000 shares of the firm’s stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $1,061,160.00. Following the transaction, the director now owns 1,142,006 shares in the company, valued at approximately $302,962,771.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Cedric Pech sold 273 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $72,424.17. Following the sale, the executive now directly owns 35,719 shares in the company, valued at approximately $9,475,893.51. The disclosure for this sale can be found here. Insiders have sold a total of 21,005 shares of company stock valued at $5,557,746 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

MongoDB Price Performance

Shares of MongoDB stock opened at $278.26 on Thursday. The firm has a market cap of $20.56 billion, a PE ratio of -99.02 and a beta of 1.15. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. 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 business has a 50-day moving average price of $260.34 and a 200 day moving average price of $295.36.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the previous year, the business earned ($0.63) earnings per share. The business’s revenue was up 12.8% compared to the same quarter last year. Sell-side analysts predict that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

About MongoDB

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.