Zurcher Kantonalbank Zurich Cantonalbank Increases Position in MongoDB, Inc. (NASDAQ:MDB)

Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 12.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 17,090 shares of the company’s stock after buying an additional 1,947 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in MongoDB were worth $3,979,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Taika Capital LP bought a new position in MongoDB in the 4th quarter worth approximately $1,237,000. AlphaQuest LLC bought a new position in shares of MongoDB during the fourth quarter worth $290,000. OFI Invest Asset Management purchased a new position in MongoDB during the fourth quarter valued at $253,000. Amundi increased its holdings in MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after acquiring an additional 321,186 shares during the last quarter. Finally, Intellectus Partners LLC lifted its stake in MongoDB by 119.7% in the 4th quarter. Intellectus Partners LLC now owns 3,800 shares of the company’s stock worth $885,000 after purchasing an additional 2,070 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

NASDAQ MDB opened at $185.37 on Friday. The company’s 50-day simple moving average is $256.72 and its two-hundred day simple moving average is $272.29. MongoDB, Inc. has a one year low of $173.13 and a one year high of $387.19. The company has a market capitalization of $13.80 billion, a price-to-earnings ratio of -67.65 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $519.65 million. During the same period last year, the firm earned $0.86 EPS. Equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MDB. Wells Fargo & Company cut MongoDB from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. Bank of America reduced their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Cantor Fitzgerald started coverage on shares of MongoDB in a report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 target price for the company. Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 price target on shares of MongoDB in a research note on Tuesday, March 4th. Finally, UBS Group set a $350.00 target price on shares of MongoDB in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $319.87.

Insider Activity at MongoDB

In other news, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at approximately $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 49,314 shares of company stock valued at $12,981,833 over the last quarter. 3.60% of the stock is owned by corporate insiders.

MongoDB 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.