Nicholas Investment Partners LP Lowers Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Nicholas Investment Partners LP decreased its position in MongoDB, Inc. (NASDAQ:MDB) by 99.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,373 shares of the company’s stock after selling 1,691,627 shares during the period. Nicholas Investment Partners LP’s holdings in MongoDB were worth $1,949,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Franklin Resources Inc. increased its position in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after buying an additional 181,962 shares in the last quarter. Geode Capital Management LLC grew its position in MongoDB by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the last quarter. First Trust Advisors LP increased its position in shares of MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after acquiring an additional 95,893 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of MongoDB in the fourth quarter worth $189,584,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently commented on MDB shares. Morgan Stanley reduced their price objective on MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. The Goldman Sachs Group reduced their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Needham & Company LLC lowered their price target on MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. KeyCorp downgraded MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Loop Capital decreased their target price on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $294.78.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $195.90 on Wednesday. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $379.06. The company has a market capitalization of $15.90 billion, a price-to-earnings ratio of -71.50 and a beta of 1.49. The business’s 50-day moving average is $174.62 and its 200-day moving average is $241.04.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter last year, the business posted $0.86 earnings per share. Analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 885 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total transaction of $258,464.25. Following the sale, the director now directly owns 83,845 shares of the company’s stock, valued at $24,486,932.25. This trade represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $58,121,799.12. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,423 shares of company stock valued at $7,148,369 over the last 90 days. 3.60% of the stock is owned by insiders.

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.