Clearbridge Investments LLC Cuts Stake in MongoDB, Inc. (NASDAQ:MDB)

Clearbridge Investments LLC lessened its holdings in MongoDB, Inc. (NASDAQ:MDB) by 23.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 283,763 shares of the company’s stock after selling 86,752 shares during the period. Clearbridge Investments LLC’s holdings in MongoDB were worth $66,063,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of MDB. Cerity Partners LLC raised its stake in shares of MongoDB by 8.3% in the third quarter. Cerity Partners LLC now owns 9,094 shares of the company’s stock valued at $2,459,000 after acquiring an additional 695 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in MongoDB by 3.8% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,101 shares of the company’s stock valued at $7,596,000 after purchasing an additional 1,022 shares in the last quarter. MetLife Investment Management LLC boosted its stake in shares of MongoDB by 1.6% in the 3rd quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock valued at $1,203,000 after buying an additional 72 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of MongoDB by 23.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,143 shares of the company’s stock worth $4,094,000 after buying an additional 2,858 shares in the last quarter. Finally, Icon Wealth Advisors LLC purchased a new stake in shares of MongoDB during the third quarter worth approximately $109,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insiders Place Their Bets

In other MongoDB news, CFO Michael Lawrence Gordon sold 1,245 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the sale, the chief financial officer now directly owns 79,062 shares in the company, valued at approximately $18,507,623.58. The trade was a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the transaction, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,139 shares of company stock worth $11,328,869. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

MDB has been the subject of a number of recent research reports. Morgan Stanley decreased their price target on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Bank of America dropped their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Monness Crespi & Hardt raised shares of MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. The Goldman Sachs Group lowered their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Tigress Financial upped their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Price Performance

Shares of MDB stock opened at $175.40 on Tuesday. The business’s fifty day moving average price is $244.01 and its 200 day moving average price is $265.11. The firm has a market capitalization of $14.24 billion, a PE ratio of -64.01 and a beta of 1.30. MongoDB, Inc. has a 1-year low of $170.85 and a 1-year high of $387.19.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share 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 analyst estimates 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 company earned $0.86 earnings per share. Equities research analysts expect that MongoDB, Inc. will post -1.78 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.