Evanson Asset Management LLC Decreases Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Evanson Asset Management LLC cut its stake in MongoDB, Inc. (NASDAQ:MDB) by 12.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,087 shares of the company’s stock after selling 150 shares during the period. Evanson Asset Management LLC’s holdings in MongoDB were worth $253,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC grew its stake in MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after acquiring an additional 40 shares during the last quarter. Hilltop National Bank increased its stake in shares of MongoDB by 47.2% during 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. Tanager Wealth Management LLP raised its position in shares of MongoDB by 4.7% during the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after purchasing an additional 43 shares during the last quarter. Rakuten Securities Inc. lifted its stake in MongoDB by 16.5% in the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after buying an additional 47 shares in the last quarter. Finally, Prime Capital Investment Advisors LLC grew its holdings in MongoDB by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock valued at $322,000 after buying an additional 59 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Up 2.1 %

Shares of NASDAQ:MDB opened at $253.11 on Tuesday. The company has a market capitalization of $18.85 billion, a price-to-earnings ratio of -92.38 and a beta of 1.25. The company has a 50 day moving average of $277.47 and a two-hundred day moving average of $269.11. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share 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 business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period last year, the business earned $0.96 EPS. The business’s revenue was up 22.3% on a year-over-year basis. On average, equities analysts anticipate that MongoDB, Inc. will post -1.79 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares in the company, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $242.67, for a total transaction of $253,590.15. Following the transaction, the director now directly owns 85,652 shares in the company, valued at $20,785,170.84. The trade was a 1.21 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,821 shares of company stock worth $6,831,215. 3.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MDB shares. Oppenheimer upped their price objective on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Barclays reduced their target price on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a report on Friday, January 10th. Truist Financial reissued a “buy” rating and issued a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Stifel Nicolaus raised their target price on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Finally, Cantor Fitzgerald initiated coverage on MongoDB in a report on Friday. They issued an “overweight” rating and a $344.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-two have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $363.93.

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.