Sycomore Asset Management Reduces Holdings in MongoDB, Inc. (NASDAQ:MDB)

Sycomore Asset Management lessened its stake in MongoDB, Inc. (NASDAQ:MDB) by 36.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,173 shares of the company’s stock after selling 19,395 shares during the quarter. MongoDB makes up about 1.4% of Sycomore Asset Management’s investment portfolio, making the stock its 23rd largest position. Sycomore Asset Management’s holdings in MongoDB were worth $9,317,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the business. Swedbank AB raised its stake in MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares during the last quarter. Clearbridge Investments LLC raised its stake in shares of MongoDB by 109.0% during the 1st quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after buying an additional 232,101 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of MongoDB in the 2nd quarter valued at about $52,131,000. Finally, Renaissance Technologies LLC increased its stake in shares of MongoDB by 828.9% in the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after purchasing an additional 163,300 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDB. Stifel Nicolaus lifted their price target on shares of MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Piper Sandler increased their target price on shares of MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Bank of America increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a report on Friday, August 30th. DA Davidson raised their target price on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Finally, Wells Fargo & Company raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $334.25.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $282.89, for a total value of $282,890.00. Following the transaction, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Monday, November 4th. The shares were sold at an average price of $269.57, for a total transaction of $808,710.00. Following the completion of the sale, the director now owns 1,127,006 shares of the company’s stock, valued at approximately $303,807,007.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,281 shares of company stock worth $6,657,121 over the last quarter. 3.60% of the stock is owned by corporate insiders.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded down $0.89 during mid-day trading on Thursday, reaching $300.00. 647,231 shares of the company traded hands, compared to its average volume of 1,425,905. The company’s 50 day moving average price is $278.11 and its 200-day moving average price is $275.45. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The firm has a market cap of $22.16 billion, a PE ratio of -98.02 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.63) earnings per share. On average, equities analysts expect that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

MongoDB Company 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.