Princeton Capital Management LLC Sells 1,265 Shares of MongoDB, Inc. (NASDAQ:MDB)

Princeton Capital Management LLC lowered its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 28.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,247 shares of the company’s stock after selling 1,265 shares during the quarter. Princeton Capital Management LLC’s holdings in MongoDB were worth $878,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB raised its position in shares of MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares during the period. Thrivent Financial for Lutherans increased its stake in 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 purchasing an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in MongoDB during the second quarter worth $52,131,000. Renaissance Technologies LLC raised its holdings in MongoDB by 828.9% during the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after buying an additional 163,300 shares during the last quarter. Finally, LA Financiere DE L Echiquier bought a new position in shares of MongoDB in the second quarter valued at $19,497,000. Institutional investors own 89.29% of the company’s stock.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $269.57, for a total transaction of $808,710.00. Following the sale, the director now directly owns 1,127,006 shares in the company, valued at $303,807,007.42. This represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the transaction, the executive now owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 24,281 shares of company stock worth $6,657,121. 3.60% of the stock is owned by corporate insiders.

MongoDB Stock Up 1.7 %

Shares of MDB opened at $284.43 on Tuesday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The stock’s fifty day moving average price is $278.10 and its two-hundred day moving average price is $273.60.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.49 by $0.21. The business had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company’s revenue was up 12.8% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.63) earnings per share. As a group, equities research analysts anticipate that MongoDB, Inc. will post -2.39 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Stifel Nicolaus boosted their target price on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Wedbush raised MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Needham & Company LLC increased their price objective on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Piper Sandler lifted their target price on MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, DA Davidson increased their price target on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $336.54.

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.