Mitsubishi UFJ Trust & Banking Corp Trims Holdings in MongoDB, Inc. (NASDAQ:MDB)

Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 6.1% during the fourth quarter, HoldingsChannel.com reports. The firm owned 58,261 shares of the company’s stock after selling 3,810 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in MongoDB were worth $13,564,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Pier Capital LLC lifted its holdings in shares of MongoDB by 8.7% in the fourth quarter. Pier Capital LLC now owns 2,962 shares of the company’s stock worth $690,000 after buying an additional 236 shares in the last quarter. Vanguard Group Inc. boosted its holdings in MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the period. Stevens Capital Management LP purchased a new position in shares of MongoDB during the 4th quarter valued at $222,000. Fox Run Management L.L.C. increased its holdings in shares of MongoDB by 21.4% in the fourth quarter. Fox Run Management L.L.C. now owns 6,757 shares of the company’s stock worth $1,573,000 after purchasing an additional 1,189 shares during the period. Finally, KLP Kapitalforvaltning AS purchased a new stake in shares of MongoDB in the fourth quarter worth $5,611,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Trading Down 5.6 %

Shares of MongoDB stock opened at $178.03 on Friday. The company’s fifty day simple moving average is $245.56 and its two-hundred day simple moving average is $266.34. MongoDB, Inc. has a 12-month low of $173.13 and a 12-month high of $387.19. The company has a market cap of $13.26 billion, a P/E ratio of -64.97 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 in the previous year, the company earned $0.86 earnings per share. Analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Activity

In other news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares in the company, valued at approximately $58,121,799.12. This trade represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 885 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the sale, the director now directly owns 83,845 shares in the company, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,139 shares of company stock worth $11,328,869 in the last quarter. 3.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on MDB. UBS Group set a $350.00 target price on MongoDB in a research note on Tuesday, March 4th. DA Davidson raised their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley cut 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. Rosenblatt Securities restated a “buy” rating and set a $350.00 price objective on shares of MongoDB in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus dropped their target price on MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $320.70.

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.