MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Posted by Defense World Staff on Jul 19th, 2023

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 1.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 199,204 shares of the company’s stock after selling 2,158 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.28% of MongoDB worth $46,438,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MDB. Bessemer Group Inc. acquired a new position in shares of MongoDB in the fourth quarter valued at approximately $29,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in MongoDB in the fourth quarter worth approximately $30,000. Lindbrook Capital LLC lifted its stake in MongoDB by 350.0% in the fourth quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock worth $34,000 after acquiring an additional 133 shares during the last quarter. Y.D. More Investments Ltd purchased a new position in MongoDB in the fourth quarter worth approximately $36,000. Finally, CI Investments Inc. lifted its stake in MongoDB by 126.8% in the fourth quarter. CI Investments Inc. now owns 186 shares of the company’s stock worth $37,000 after acquiring an additional 104 shares during the last quarter. 89.22% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on MDB. Barclays lifted their price target on shares of MongoDB from $374.00 to $421.00 in a research note on Monday, June 26th. Guggenheim downgraded shares of MongoDB from a “neutral” rating to a “sell” rating and upped their price target for the company from $205.00 to $210.00 in a research report on Thursday, May 25th. They noted that the move was a valuation call. 22nd Century Group reiterated a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Truist Financial upped their price target on shares of MongoDB from $365.00 to $420.00 in a research report on Friday, June 23rd. Finally, Piper Sandler boosted their price objective on shares of MongoDB from $270.00 to $400.00 in a research note on Friday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $366.59.

Insider Buying and Selling at MongoDB

In other MongoDB news, CTO Mark Porter sold 2,734 shares of the company’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $412.33, for a total value of $1,127,310.22. Following the transaction, the chief technology officer now directly owns 35,056 shares in the company, valued at approximately $14,454,640.48. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Dwight A. Merriman sold 606 shares of the stock in a transaction dated Monday, July 10th. The shares were sold at an average price of $382.41, for a total transaction of $231,740.46. Following the transaction, the director now directly owns 1,214,159 shares in the company, valued at approximately $464,306,543.19. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CTO Mark Porter sold 2,734 shares of the stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $412.33, for a total transaction of $1,127,310.22. Following the transaction, the chief technology officer now owns 35,056 shares in the company, valued at $14,454,640.48. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 117,427 shares of company stock worth $41,364,961. Corporate insiders own 4.80% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $426.02 on Wednesday. The stock has a market cap of $30.07 billion, a price-to-earnings ratio of -91.22 and a beta of 1.13. MongoDB, Inc. has a 52 week low of $135.15 and a 52 week high of $437.33. The company’s 50-day moving average price is $353.25 and its 200 day moving average price is $263.53. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.44.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Thursday, June 1st. The company reported $0.56 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.38. The firm had revenue of $368.28 million for the quarter, compared to analysts’ expectations of $347.77 million. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The firm’s revenue was up 29.0% on a year-over-year basis. During the same period in the prior year, the company earned ($1.15) EPS. As a group, research analysts forecast that MongoDB, Inc. will post -2.8 earnings per share for the current fiscal year.

MongoDB Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Sumitomo Mitsui Trust Holdings Inc.

Wall Street Analysts Forecast Growth

Insider Buying and Selling at MongoDB

MongoDB Price Performance

MongoDB Profile

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