Princeton Capital Management LLC Has $573,000 Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Princeton Capital Management LLC cut its holdings in MongoDB, Inc. (NASDAQ:MDB) by 24.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,462 shares of the company’s stock after selling 785 shares during the quarter. Princeton Capital Management LLC’s holdings in MongoDB were worth $573,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in MDB. Vanguard Group Inc. boosted its holdings in MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after buying an additional 23,942 shares during the last quarter. Stevens Capital Management LP bought a new position in MongoDB during the 4th quarter worth approximately $222,000. Fox Run Management L.L.C. boosted its stake in MongoDB by 21.4% during the 4th quarter. Fox Run Management L.L.C. now owns 6,757 shares of the company’s stock worth $1,573,000 after acquiring an additional 1,189 shares during the last quarter. KLP Kapitalforvaltning AS bought a new stake in MongoDB in the fourth quarter valued at approximately $5,611,000. Finally, AXQ Capital LP bought a new stake in MongoDB in the fourth quarter valued at approximately $493,000. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. China Renaissance began coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 target price for the company. Loop Capital cut their price objective on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Royal Bank of Canada lowered their target price on MongoDB from $400.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Needham & Company LLC cut their price target on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Stifel Nicolaus decreased their price objective on MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $320.70.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the sale, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,139 shares of company stock valued at $11,328,869. 3.60% of the stock is currently owned by insiders.

MongoDB Trading Up 2.6 %

NASDAQ MDB opened at $197.48 on Tuesday. MongoDB, Inc. has a 1 year low of $173.13 and a 1 year high of $387.19. The firm has a market capitalization of $14.71 billion, a price-to-earnings ratio of -72.07 and a beta of 1.30. The firm’s 50 day simple moving average is $250.11 and its 200 day simple moving average is $268.75.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the previous year, the business posted $0.86 EPS. On average, equities research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.