MongoDB, Inc. $MDB Position Trimmed by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 6.3% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,465 shares of the company’s stock after selling 165 shares during the period. Park Avenue Securities LLC’s holdings in MongoDB were worth $518,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Palacios Wealth Management LLC boosted its holdings in MongoDB by 26.0% during the second quarter. Palacios Wealth Management LLC now owns 2,930 shares of the company’s stock worth $615,000 after buying an additional 605 shares in the last quarter. Avanza Fonder AB bought a new stake in MongoDB during the second quarter worth approximately $728,000. Farther Finance Advisors LLC boosted its holdings in MongoDB by 6.8% during the second quarter. Farther Finance Advisors LLC now owns 1,327 shares of the company’s stock worth $279,000 after buying an additional 85 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in MongoDB by 86.9% during the second quarter. Assenagon Asset Management S.A. now owns 690,190 shares of the company’s stock worth $144,933,000 after buying an additional 320,877 shares in the last quarter. Finally, Perpetual Ltd bought a new stake in MongoDB during the second quarter worth approximately $313,000. 89.29% of the stock is currently owned by institutional investors.

MongoDB Trading Down 0.4%

NASDAQ:MDB opened at $317.00 on Tuesday. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The firm’s fifty day simple moving average is $270.12 and its 200 day simple moving average is $217.34. The firm has a market capitalization of $25.79 billion, a PE ratio of -323.47 and a beta of 1.49.

Insider Activity

In related news, CEO Dev Ittycheria sold 33,320 shares of the firm’s stock in a transaction on Thursday, August 28th. The shares were sold at an average price of $301.29, for a total value of $10,038,982.80. Following the transaction, the chief executive officer directly owned 203,237 shares in the company, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Hope F. Cochran sold 1,174 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total transaction of $384,989.82. Following the completion of the sale, the director owned 24,308 shares in the company, valued at $7,971,322.44. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,910 shares of company stock valued at $32,634,392. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MDB has been the subject of several research analyst reports. Zacks Research upgraded shares of MongoDB to a “hold” rating in a research report on Friday, August 8th. Wedbush upped their price target on shares of MongoDB from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday, September 15th. Stifel Nicolaus upped their price target on shares of MongoDB from $325.00 to $375.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Macquarie increased their target price on shares of MongoDB from $265.00 to $305.00 and gave the stock a “neutral” rating in a research report on Thursday, September 18th. Finally, William Blair reiterated an “outperform” rating on shares of MongoDB in a research report on Thursday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $336.83.

MongoDB Company Profile

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.