Cynosure Group LLC Trims Stake in MongoDB, Inc. (NASDAQ:MDB)

Cynosure Group LLC lessened its stake in MongoDB, Inc. (NASDAQ:MDB) by 22.1% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,304 shares of the company’s stock after selling 370 shares during the quarter. Cynosure Group LLC’s holdings in MongoDB were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB in the 2nd quarter valued at about $25,000. J.Safra Asset Management Corp grew its holdings in 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 purchasing 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. Brooklyn Investment Group acquired a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. Finally, Hantz Financial Services Inc. purchased a new position in shares of MongoDB during the 2nd quarter valued at approximately $35,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In other news, CRO Cedric Pech sold 302 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 value of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. The trade was a 5.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock worth $7,442,189 over the last three months. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MDB. Oppenheimer boosted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Needham & Company LLC upped their price target on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Citigroup lifted their price objective on MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Scotiabank increased their target price on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Finally, Wells Fargo & Company boosted their price target on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $340.29.

MongoDB Price Performance

NASDAQ:MDB opened at $324.60 on Friday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The stock’s fifty day moving average is $282.65 and its two-hundred day moving average is $272.02. The company has a market capitalization of $23.98 billion, a P/E ratio of -107.48 and a beta of 1.15. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

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

MongoDB Profile

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.