Cynosure Group LLC Reduces Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Cynosure Group LLC trimmed its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 22.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,304 shares of the company’s stock after selling 370 shares during the quarter. Cynosure Group LLC’s holdings in MongoDB were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Jennison Associates LLC boosted its stake in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the period. Swedbank AB boosted its stake in shares of MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares during the period. Westfield Capital Management Co. LP grew its holdings in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after purchasing an additional 7,526 shares during the last quarter. Thrivent Financial for Lutherans raised its position in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares during the period. Finally, Blair William & Co. IL lifted its stake in MongoDB by 16.4% in the second quarter. Blair William & Co. IL now owns 315,830 shares of the company’s stock worth $78,945,000 after purchasing an additional 44,608 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Down 3.2 %

Shares of MDB stock opened at $324.60 on Friday. The stock’s fifty day moving average price is $282.65 and its 200 day moving average price is $272.02. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a market cap of $23.98 billion, a price-to-earnings ratio of -107.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The company’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. On average, research analysts expect that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the sale, the director now owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. The trade was a 0.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,600 shares of company stock valued at $7,442,189. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on MDB shares. Wells Fargo & Company increased their price target on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Sanford C. Bernstein increased their target price on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Citigroup upped their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, DA Davidson lifted their price objective on shares of MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $340.29.

MongoDB 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.