Victory Capital Management Inc. Sells 6,029 Shares of MongoDB, Inc. $MDB

Victory Capital Management Inc. reduced its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,923 shares of the company’s stock after selling 6,029 shares during the quarter. Victory Capital Management Inc.’s holdings in MongoDB were worth $22,634,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MDB. Vanguard Group Inc. increased its stake in MongoDB by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after buying an additional 431,382 shares during the period. State Street Corp lifted its holdings in MongoDB by 5.0% during the 2nd quarter. State Street Corp now owns 1,693,194 shares of the company’s stock valued at $355,554,000 after buying an additional 80,334 shares in the last quarter. Geode Capital Management LLC boosted its position in MongoDB by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company’s stock valued at $292,597,000 after buying an additional 68,611 shares during the period. AQR Capital Management LLC boosted its position in MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after buying an additional 1,069,969 shares during the period. Finally, Primecap Management Co. CA grew its stake in MongoDB by 20.1% in the 2nd quarter. Primecap Management Co. CA now owns 1,045,719 shares of the company’s stock worth $219,591,000 after acquiring an additional 175,169 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Up 0.5%

Shares of MDB stock opened at $271.74 on Tuesday. The firm has a market cap of $22.12 billion, a price-to-earnings ratio of -308.80, a PEG ratio of 403.42 and a beta of 1.40. The company’s 50 day moving average is $366.04 and its 200 day moving average is $353.30. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.MongoDB’s revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.28 earnings per share. Analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $417.83, for a total value of $4,178,300.00. Following the transaction, the director owned 1,041,316 shares in the company, valued at $435,093,064.28. The trade was a 0.95% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the transaction, the director owned 25,659 shares of the company’s stock, valued at $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 31,949 shares of company stock valued at $13,159,930. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

MDB has been the subject of several research analyst reports. Zacks Research downgraded shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Wedbush dropped their price objective on MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Royal Bank Of Canada reduced their price objective on MongoDB from $500.00 to $395.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Truist Financial decreased their target price on MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Finally, Guggenheim reiterated a “buy” rating and issued a $475.00 target price on shares of MongoDB in a report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $354.18.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.