Forsta AP Fonden Reduces Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Forsta AP Fonden reduced its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,300 shares of the company’s stock after selling 1,300 shares during the quarter. Forsta AP Fonden’s holdings in MongoDB were worth $3,574,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Pier Capital LLC grew its holdings in MongoDB by 112.5% during the 2nd quarter. Pier Capital LLC now owns 3,064 shares of the company’s stock worth $766,000 after acquiring an additional 1,622 shares in the last quarter. Headlands Technologies LLC acquired a new position in MongoDB in the second quarter worth about $622,000. Daiwa Securities Group Inc. increased its holdings in MongoDB by 6.5% in the second quarter. Daiwa Securities Group Inc. now owns 9,191 shares of the company’s stock valued at $2,297,000 after buying an additional 563 shares during the last quarter. Levin Capital Strategies L.P. acquired a new stake in MongoDB during the second quarter valued at approximately $250,000. Finally, Exane Asset Management bought a new position in MongoDB during the 2nd quarter worth approximately $1,066,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at MongoDB

In other MongoDB news, Director John Dennis Mcmahon sold 10,000 shares of the business’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $228.00, for a total value of $2,280,000.00. Following the completion of the sale, the director now owns 20,020 shares of the company’s stock, valued at $4,564,560. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, Director John Dennis Mcmahon sold 10,000 shares of the stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the director now owns 20,020 shares in the company, valued at approximately $4,564,560. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction that occurred on Thursday, June 27th. The shares were sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the sale, the director now directly owns 1,146,003 shares of the company’s stock, valued at $280,770,735. The disclosure for this sale can be found here. Insiders have sold a total of 32,005 shares of company stock worth $8,082,746 in the last 90 days. 3.60% of the stock is owned by insiders.

MongoDB Trading Down 1.7 %

Shares of MDB stock opened at $290.09 on Monday. The stock has a 50-day simple moving average of $255.85 and a 200 day simple moving average of $302.21. The stock has a market capitalization of $21.28 billion, a P/E ratio of -103.23 and a beta of 1.15. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter in the previous year, the company posted ($0.63) EPS. The business’s revenue was up 12.8% compared to the same quarter last year. On average, sell-side analysts expect that MongoDB, Inc. will post -2.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

MDB has been the subject of a number of research analyst reports. Morgan Stanley boosted their price target on MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Truist Financial raised their price target on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Bank of America boosted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Oppenheimer raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Scotiabank upped their target price on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $337.56.

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.