AFT Forsyth & Company Inc. Lowers Stake in MongoDB, Inc. (NASDAQ:MDB)

AFT Forsyth & Company Inc. lessened its holdings in MongoDB, Inc. (NASDAQ:MDB) by 25.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,577 shares of the company’s stock after selling 1,240 shares during the quarter. AFT Forsyth & Company Inc.’s holdings in MongoDB were worth $833,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Stanley Laman Group Ltd. bought a new stake in shares of MongoDB in the 4th quarter worth approximately $7,520,000. Van ECK Associates Corp bought a new stake in MongoDB in the fourth quarter worth $211,000. Allspring Global Investments Holdings LLC increased its holdings in shares of MongoDB by 9.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 191,115 shares of the company’s stock valued at $46,691,000 after acquiring an additional 15,825 shares in the last quarter. UNICOM Systems Inc. purchased a new position in shares of MongoDB in the 4th quarter worth about $4,889,000. Finally, Summit Trail Advisors LLC purchased a new position in shares of MongoDB in the 4th quarter worth about $224,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Trading Up 2.2 %

NASDAQ MDB opened at $292.46 on Thursday. The stock has a 50 day moving average price of $265.54 and a 200-day moving average price of $271.27. MongoDB, Inc. has a one year low of $212.74 and a one year high of $488.00.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 earnings per share. MongoDB’s revenue was up 22.3% on a year-over-year basis. On average, sell-side analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $279.99, for a total value of $2,333,716.65. Following the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $60,840,147.06. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 1,319 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $285.92, for a total transaction of $377,128.48. Following the completion of the sale, the director now owns 87,744 shares of the company’s stock, valued at $25,087,764.48. This trade represents a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 44,413 shares of company stock valued at $12,082,421. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

MDB has been the subject of a number of analyst reports. DA Davidson raised their price objective 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. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. China Renaissance began coverage on MongoDB in a research report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price objective on the stock. Piper Sandler reissued an “overweight” rating and issued a $425.00 target price on shares of MongoDB in a report on Tuesday, December 10th. Finally, Barclays reduced their price objective on MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a report on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average target price of $361.00.

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.