AFT Forsyth & Company Inc. Sells 1,240 Shares of MongoDB, Inc. (NASDAQ:MDB)

AFT Forsyth & Company Inc. lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 25.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,577 shares of the company’s stock after selling 1,240 shares during the quarter. AFT Forsyth & Company Inc.’s holdings in MongoDB were worth $833,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of MDB. Nisa Investment Advisors LLC lifted its holdings in MongoDB by 3.8% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares in the last quarter. Hilltop National Bank increased its position in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the period. Tanager Wealth Management LLP lifted its holdings in shares of MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after buying an additional 43 shares in the last quarter. Rakuten Securities Inc. boosted its position in shares of MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after acquiring an additional 47 shares during the period. Finally, Prime Capital Investment Advisors LLC grew its stake in MongoDB by 5.2% during the third quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock valued at $322,000 after acquiring an additional 59 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

MDB stock opened at $292.46 on Thursday. The firm’s 50-day moving average price is $265.54 and its two-hundred day moving average price is $271.27. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $488.00.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the business earned $0.96 EPS. MongoDB’s revenue was up 22.3% compared to the same quarter last year. Equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Royal Bank of Canada increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Truist Financial reiterated a “buy” rating and issued a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. China Renaissance started coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Cantor Fitzgerald initiated coverage on MongoDB in a report on Friday, January 17th. They issued an “overweight” rating and a $344.00 price target on the stock. Finally, Macquarie assumed coverage on MongoDB in a report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective for the company. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 2,581 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $604,186.29. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $50,866,352.46. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 44,413 shares of company stock worth $12,082,421 over the last quarter. Corporate insiders own 3.60% of the company’s stock.

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.