Lazard Asset Management LLC Sells 42,557,620 Shares of MongoDB, Inc. (NASDAQ:MDB)

Lazard Asset Management LLC cut its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 100.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 384 shares of the company’s stock after selling 42,557,620 shares during the quarter. Lazard Asset Management LLC’s holdings in MongoDB were worth $88,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in MDB. Union Bancaire Privee UBP SA bought a new position in MongoDB in the 4th quarter valued at about $3,515,000. HighTower Advisors LLC lifted its position in shares of MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after buying an additional 372 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in MongoDB by 428.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after buying an additional 4,665 shares in the last quarter. Jones Financial Companies Lllp grew its position in MongoDB by 68.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock valued at $237,000 after acquiring an additional 413 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its stake in MongoDB by 56.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock worth $87,000 after acquiring an additional 134 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Price Performance

Shares of MDB opened at $185.85 on Monday. The stock has a 50-day moving average of $174.70 and a 200-day moving average of $235.57. The company has a market cap of $15.09 billion, a PE ratio of -67.83 and a beta of 1.49. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 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 business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same quarter last year, the firm posted $0.86 EPS. Analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $58,121,799.12. This represents a 3.69% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,538 shares of company stock worth $6,889,905. Corporate insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Daiwa Capital Markets started coverage on shares of MongoDB in a report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 price target on the stock. Needham & Company LLC lowered their price target on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Mizuho dropped their price target on MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Barclays reduced their price objective on MongoDB from $280.00 to $252.00 and set an “overweight” rating on the stock in a research report on Friday, May 16th. Finally, Redburn Atlantic upgraded MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price for the company in a research report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $288.91.

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.