Sycomore Asset Management Decreases Position in MongoDB, Inc. (NASDAQ:MDB)

Sycomore Asset Management lowered its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 36.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 34,173 shares of the company’s stock after selling 19,395 shares during the period. MongoDB accounts for 1.4% of Sycomore Asset Management’s investment portfolio, making the stock its 23rd largest holding. Sycomore Asset Management’s holdings in MongoDB were worth $9,317,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB during the 2nd quarter valued at approximately $25,000. J.Safra Asset Management Corp boosted its holdings in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares during the period. Quarry LP increased its position in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in MongoDB during the 2nd quarter worth about $35,000. Finally, GAMMA Investing LLC lifted its stake in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Oppenheimer boosted their price target on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Stifel Nicolaus upped their price target on MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC increased their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. UBS Group increased their target price on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, JMP Securities restated a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $334.25.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total transaction of $872,370.00. Following the sale, the director now owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total value of $872,370.00. Following the completion of the sale, the director now owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at $4,117,425. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,281 shares of company stock worth $6,657,121. Corporate insiders own 3.60% of the company’s stock.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded down $0.89 during midday trading on Thursday, hitting $300.00. The stock had a trading volume of 647,231 shares, compared to its average volume of 1,425,905. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The stock has a 50 day moving average price of $278.11 and a two-hundred day moving average price of $275.45. The company has a market capitalization of $22.16 billion, a PE ratio of -98.02 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.63) earnings per share. As a group, equities analysts predict that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

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.