Asset Dedication LLC Decreases Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Asset Dedication LLC reduced its holdings in MongoDB, Inc. (NASDAQ:MDB) by 30.7% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 113 shares of the company’s stock after selling 50 shares during the period. Asset Dedication LLC’s holdings in MongoDB were worth $26,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Jennison Associates LLC increased 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 acquiring an additional 592,038 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after purchasing an additional 34,814 shares during the period. Westfield Capital Management Co. LP increased its position in shares of 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. Holocene Advisors LP raised its holdings in MongoDB by 22.6% during the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after buying an additional 66,730 shares during the period. Finally, Assenagon Asset Management S.A. lifted its position in MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after buying an additional 294,228 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MDB. China Renaissance assumed coverage on shares of MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective on the stock. Stifel Nicolaus increased their price objective on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. The Goldman Sachs Group raised their price objective on shares of MongoDB from $340.00 to $390.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 target price on the stock. Finally, Mizuho raised their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $361.00.

MongoDB Stock Performance

MDB stock opened at $271.07 on Friday. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The firm has a market cap of $20.19 billion, a price-to-earnings ratio of -98.93 and a beta of 1.25. The firm has a 50-day simple moving average of $274.45 and a two-hundred day simple moving average of $269.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the prior year, the company posted $0.96 earnings per share. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. As a group, equities analysts predict that MongoDB, Inc. will post -1.79 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction dated Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. This trade represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at approximately $21,510,229.95. This trade represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,491 shares of company stock valued at $11,554,190 in the last quarter. 3.60% of the stock is currently owned by corporate insiders.

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.