Cerity Partners LLC Reduces Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Cerity Partners LLC reduced its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 1.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,518 shares of the company’s stock after selling 156 shares during the period. Cerity Partners LLC’s holdings in MongoDB were worth $1,669,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of MDB. Alps Advisors Inc. raised its stake in MongoDB by 42.5% in the first quarter. Alps Advisors Inc. now owns 8,047 shares of the company’s stock worth $1,411,000 after buying an additional 2,400 shares in the last quarter. DekaBank Deutsche Girozentrale raised its stake in MongoDB by 2.0% in the first quarter. DekaBank Deutsche Girozentrale now owns 45,196 shares of the company’s stock worth $7,956,000 after buying an additional 870 shares in the last quarter. Brown Advisory Inc. raised its stake in MongoDB by 671.1% in the first quarter. Brown Advisory Inc. now owns 24,258 shares of the company’s stock worth $4,255,000 after buying an additional 21,112 shares in the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of MongoDB by 53.0% during the first quarter. China Universal Asset Management Co. Ltd. now owns 1,839 shares of the company’s stock valued at $323,000 after purchasing an additional 637 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of MongoDB by 44.6% during the first quarter. Envestnet Asset Management Inc. now owns 127,425 shares of the company’s stock valued at $22,350,000 after purchasing an additional 39,311 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 820 shares of the firm’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the completion of the sale, the director owned 1,106,186 shares of the company’s stock, valued at approximately $233,228,256.24. This trade represents a 0.07% 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 hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares of the company’s stock, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,746 shares of company stock valued at $7,500,196. Insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on MDB. Morgan Stanley decreased their target price on shares of MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Monness Crespi & Hardt raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 target price for the company in a research note on Thursday, June 5th. Bank of America raised their price target on shares of MongoDB from $215.00 to $275.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. Stifel Nicolaus reduced their price target on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, William Blair reissued an “outperform” rating on shares of MongoDB in a research report on Thursday, June 26th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $281.35.

MongoDB Trading Up 1.2%

Shares of MongoDB stock opened at $221.21 on Monday. The company has a fifty day simple moving average of $202.71 and a 200-day simple moving average of $212.83. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The stock has a market cap of $18.08 billion, a price-to-earnings ratio of -194.04 and a beta of 1.41.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. On average, analysts forecast that MongoDB, Inc. will post -1.78 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.