Norges Bank Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Norges Bank bought a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 814,331 shares of the company’s stock, valued at approximately $189,584,000. Norges Bank owned approximately 1.09% of MongoDB as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Hilltop National Bank grew its holdings in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. bought a new position in shares of MongoDB during the fourth quarter worth $35,000. Continuum Advisory LLC grew its stake in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Versant Capital Management Inc grew its stake in MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after acquiring an additional 165 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in MongoDB in the 3rd quarter valued at $44,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

MDB stock opened at $178.03 on Monday. MongoDB, Inc. has a 12 month low of $173.13 and a 12 month high of $387.19. The firm’s 50-day moving average is $245.56 and its 200 day moving average is $265.95. The company has a market capitalization of $14.45 billion, a PE ratio of -64.97 and a beta of 1.30.

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

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MDB. Wedbush cut their price objective on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Citigroup restated a “buy” rating on shares of MongoDB in a report on Thursday, March 6th. Royal Bank of Canada decreased their price objective on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Oppenheimer cut their target price on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Macquarie decreased their price target on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $320.70.

Insiders Place Their Bets

In other news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at $3,487,706.91. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock worth $11,328,869 in the last ninety days. 3.60% of the stock is owned by company insiders.

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.