Clearbridge Investments LLC Lowers Position in MongoDB, Inc. (NASDAQ:MDB)

Clearbridge Investments LLC trimmed its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 23.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 283,763 shares of the company’s stock after selling 86,752 shares during the quarter. Clearbridge Investments LLC owned approximately 0.38% of MongoDB worth $66,063,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. CIBC Private Wealth Group LLC grew its position in MongoDB by 10.4% during the fourth quarter. CIBC Private Wealth Group LLC now owns 85,519 shares of the company’s stock valued at $21,267,000 after buying an additional 8,068 shares during the period. Schroder Investment Management Group boosted its stake in shares of MongoDB by 16.8% during the 4th quarter. Schroder Investment Management Group now owns 5,905 shares of the company’s stock worth $1,375,000 after acquiring an additional 849 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in shares of MongoDB during the 4th quarter valued at about $13,832,000. Allstate Corp purchased a new position in shares of MongoDB in the 4th quarter valued at about $510,000. Finally, DnB Asset Management AS raised its holdings in MongoDB by 2.4% in the 4th quarter. DnB Asset Management AS now owns 12,604 shares of the company’s stock worth $2,934,000 after purchasing an additional 292 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MDB. Robert W. Baird cut their price objective on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company cut shares of MongoDB from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Bank of America dropped their target price on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Tigress Financial lifted their target price on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, The Goldman Sachs Group reduced their price target on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $175.40 on Tuesday. The company has a market capitalization of $14.24 billion, a P/E ratio of -64.01 and a beta of 1.30. The company has a 50 day simple moving average of $244.01 and a 200-day simple moving average of $265.11. MongoDB, Inc. has a 1 year low of $170.85 and a 1 year high of $387.19.

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

Insider Buying and Selling

In other news, CFO Michael Lawrence Gordon sold 1,245 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the completion of the transaction, the chief financial officer now directly owns 79,062 shares in the company, valued at $18,507,623.58. This trade represents a 1.55 % 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, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. This represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,139 shares of company stock valued at $11,328,869. 3.60% of the stock is currently 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.