Clearbridge Investments LLC Sells 19,791 Shares of MongoDB, Inc. (NASDAQ:MDB)

Posted by Defense World Staff on May 29th, 2023

Clearbridge Investments LLC lessened its position in MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 85.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,481 shares of the company’s stock after selling 19,791 shares during the period. Clearbridge Investments LLC’s holdings in MongoDB were worth $685,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of MDB. Allworth Financial LP grew its holdings in MongoDB by 12.9% during the fourth quarter. Allworth Financial LP now owns 508 shares of the company’s stock worth $100,000 after purchasing an additional 58 shares during the period. Cetera Advisor Networks LLC lifted its position in shares of MongoDB by 7.4% in the second quarter. Cetera Advisor Networks LLC now owns 860 shares of the company’s stock valued at $223,000 after buying an additional 59 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of MongoDB by 4.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 1,512 shares of the company’s stock worth $298,000 after acquiring an additional 65 shares during the period. Park Avenue Securities LLC increased its holdings in shares of MongoDB by 6.0% during the 4th quarter. Park Avenue Securities LLC now owns 1,350 shares of the company’s stock worth $266,000 after acquiring an additional 77 shares during the last quarter. Finally, Fifth Third Bancorp raised its stake in MongoDB by 14.8% in the 4th quarter. Fifth Third Bancorp now owns 723 shares of the company’s stock valued at $142,000 after acquiring an additional 93 shares during the period. 84.86% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

MDB has been the topic of several research reports. KeyCorp upped their price objective on shares of MongoDB from $229.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, April 20th. Tigress Financial restated a “buy” rating and set a $365.00 price objective on shares of MongoDB in a research report on Thursday, April 20th. Needham & Company LLC upped their target price on MongoDB from $240.00 to $250.00 and gave the company a “buy” rating in a research report on Thursday, March 9th. Citigroup reduced their price target on MongoDB from $300.00 to $295.00 and set a “buy” rating for the company in a research note on Tuesday, March 7th. Finally, Mizuho lowered their price objective on MongoDB from $220.00 to $180.00 and set a “neutral” rating on the stock in a research report on Thursday, March 9th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and twenty have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $257.22.

MongoDB Trading Down 0.5 %

MDB opened at $283.36 on Monday. The company has a market cap of $19.85 billion, a P/E ratio of -56.22 and a beta of 1.06. The company has a current ratio of 3.80, a quick ratio of 3.80 and a debt-to-equity ratio of 1.54. The company’s 50 day moving average is $238.04 and its 200-day moving average is $210.45. MongoDB, Inc. has a 1-year low of $135.15 and a 1-year high of $390.84.

MongoDB (NASDAQ:MDB – Get Rating) last announced its quarterly earnings results on Wednesday, March 8th. The company reported ($0.98) EPS for the quarter, beating analysts’ consensus estimates of ($1.18) by $0.20. The company had revenue of $361.31 million during the quarter, compared to analysts’ expectations of $335.84 million. MongoDB had a negative return on equity of 48.38% and a negative net margin of 26.90%. Equities research analysts predict that MongoDB, Inc. will post -4.04 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 40,000 shares of the company’s stock in a transaction dated Wednesday, March 1st. The stock was sold at an average price of $207.86, for a total transaction of $8,314,400.00. Following the sale, the chief executive officer now owns 190,264 shares in the company, valued at approximately $39,548,275.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Thomas Bull sold 605 shares of the stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $228.34, for a total value of $138,145.70. Following the completion of the sale, the chief accounting officer now directly owns 17,706 shares of the company’s stock, valued at approximately $4,042,988.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $207.86, for a total transaction of $8,314,400.00. Following the transaction, the chief executive officer now directly owns 190,264 shares in the company, valued at $39,548,275.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 135,108 shares of company stock worth $30,127,927. Company insiders own 4.80% of the company’s stock.

About MongoDB

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.