Norges Bank Buys Shares of 814,331 MongoDB, Inc. (NASDAQ:MDB)

Norges Bank purchased a new position in MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 814,331 shares of the company’s stock, valued at approximately $189,584,000.

Other large investors have also made changes to their positions in the company. Hilltop National Bank boosted its stake in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. purchased a new position in shares of MongoDB in the fourth quarter worth $35,000. Continuum Advisory LLC lifted its stake in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the period. Versant Capital Management Inc lifted its stake in shares of MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after buying an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of MongoDB during the third quarter valued at $44,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Citigroup restated a “buy” rating on shares of MongoDB in a research note on Thursday, March 6th. UBS Group set a $350.00 target price on MongoDB in a report on Tuesday, March 4th. The Goldman Sachs Group dropped their target price on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Tigress Financial raised their price target on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Finally, Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $320.70.

Insider Buying and Selling

In other news, CFO Michael Lawrence Gordon sold 1,245 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $291,442.05. Following the transaction, the chief financial officer now directly owns 79,062 shares of the company’s stock, valued at approximately $18,507,623.58. This trade represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Cedric Pech sold 287 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,139 shares of company stock worth $11,328,869. 3.60% of the stock is owned by corporate insiders.

MongoDB Stock Down 5.6 %

Shares of NASDAQ MDB opened at $178.03 on Monday. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of -64.97 and a beta of 1.30. The company’s 50-day simple moving average is $245.56 and its 200-day simple moving average is $265.95. MongoDB, Inc. has a 52-week low of $173.13 and a 52-week high of $387.19.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same quarter in the previous year, the firm posted $0.86 earnings per share. Equities research analysts anticipate that MongoDB, Inc. will post -1.78 EPS 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.