Panagora Asset Management Inc. Sells 880 Shares of MongoDB, Inc. (NASDAQ:MDB)

Panagora Asset Management Inc. reduced its position in MongoDB, Inc. (NASDAQ:MDB) by 32.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,848 shares of the company’s stock after selling 880 shares during the quarter. Panagora Asset Management Inc.’s holdings in MongoDB were worth $462,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Quadrant Capital Group LLC increased its stake in MongoDB by 5.6% in the 4th quarter. Quadrant Capital Group LLC now owns 412 shares of the company’s stock worth $168,000 after buying an additional 22 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of MongoDB by 12.4% during the fourth quarter. EverSource Wealth Advisors LLC now owns 226 shares of the company’s stock worth $92,000 after acquiring an additional 25 shares during the period. Yousif Capital Management LLC raised its stake in shares of MongoDB by 3.9% during the fourth quarter. Yousif Capital Management LLC now owns 792 shares of the company’s stock valued at $324,000 after acquiring an additional 30 shares in the last quarter. Raleigh Capital Management Inc. boosted its holdings in shares of MongoDB by 24.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 182 shares of the company’s stock valued at $74,000 after purchasing an additional 36 shares during the period. Finally, Advisors Asset Management Inc. increased its holdings in MongoDB by 12.9% during the 1st quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock worth $116,000 after purchasing an additional 37 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the subject of several recent research reports. UBS Group lifted their price objective on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company increased their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Sanford C. Bernstein boosted their price objective on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Robert W. Baird dropped their target price on 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 boosted their price target on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $343.19.

Insider Activity

In related news, CRO Cedric Pech sold 273 shares of the stock in a transaction on Tuesday, July 2nd. The shares were 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 of the company’s stock, valued at $9,475,893.51. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the sale, the chief accounting officer now owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Cedric Pech sold 273 shares of the company’s 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 transaction, the executive now owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The disclosure for this sale can be found here. Insiders sold a total of 28,179 shares of company stock valued at $6,900,509 in the last three months. 3.60% of the stock is currently owned by corporate insiders.

MongoDB Price Performance

NASDAQ:MDB opened at $283.20 on Wednesday. The firm’s fifty day moving average is $250.49 and its two-hundred day moving average is $311.09. The firm has a market cap of $20.77 billion, a price-to-earnings ratio of -100.78 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative return on equity of 15.95% and a negative net margin of 12.08%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.63) earnings per share. Research analysts expect that MongoDB, Inc. will post -2.67 EPS for the current year.

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.