Victory Capital Management Inc. Cuts Stock Position in MongoDB, Inc. $MDB

Victory Capital Management Inc. cut its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 72,923 shares of the company’s stock after selling 6,029 shares during the quarter. Victory Capital Management Inc. owned approximately 0.09% of MongoDB worth $22,634,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in MDB. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of MongoDB by 1,277.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after buying an additional 16,896 shares in the last quarter. Pacer Advisors Inc. boosted its position in shares of MongoDB by 209.0% during the third quarter. Pacer Advisors Inc. now owns 4,549 shares of the company’s stock worth $1,412,000 after acquiring an additional 3,077 shares during the last quarter. Penserra Capital Management LLC grew its stake in MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock valued at $41,910,000 after acquiring an additional 39,978 shares in the last quarter. Pinegrove Venture Partners LLC purchased a new position in MongoDB during the third quarter valued at $1,032,000. Finally, Rakuten Investment Management Inc. bought a new stake in MongoDB in the 3rd quarter valued at $40,014,000. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the sale, the director owned 25,659 shares of the company’s stock, valued at $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total value of $440,002.50. Following the transaction, the director owned 80,462 shares of the company’s stock, valued at $29,750,824.50. This trade represents a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 31,949 shares of company stock worth $13,159,930 in the last 90 days. 3.10% of the stock is currently owned by insiders.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $271.74 on Tuesday. The business’s 50 day moving average is $366.04 and its two-hundred day moving average is $353.30. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $444.72. The stock has a market capitalization of $22.12 billion, a P/E ratio of -308.80, a PEG ratio of 403.42 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 earnings per share. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have commented on MDB shares. Wells Fargo & Company decreased their price target on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Rosenblatt Securities restated a “buy” rating and set a $425.00 price objective on shares of MongoDB in a research report on Monday, March 2nd. Canaccord Genuity Group reduced their target price on MongoDB from $455.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. BMO Capital Markets reiterated an “outperform” rating and issued a $340.00 target price (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Finally, Truist Financial dropped their price target on MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $354.18.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.