Carnegie Investment Counsel Reduces Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Carnegie Investment Counsel lessened its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 32.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,717 shares of the company’s stock after selling 822 shares during the quarter. Carnegie Investment Counsel’s holdings in MongoDB were worth $464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of MDB. MFA Wealth Advisors LLC acquired a new position in shares of MongoDB in the 2nd quarter valued at about $25,000. J.Safra Asset Management Corp lifted its holdings in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares during the period. Quarry LP lifted its holdings in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the period. Hantz Financial Services Inc. acquired a new position in shares of MongoDB in the 2nd quarter valued at about $35,000. Finally, GAMMA Investing LLC lifted its holdings in shares of MongoDB by 178.8% in the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $768,750.00. Following the transaction, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. This represents a 0.00 % 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. In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Friday, August 30th. The stock was sold at an average price of $290.40, for a total value of $290,400.00. Following the sale, the director now directly owns 1,138,006 shares in the company, valued at approximately $330,476,942.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the sale, the director now owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 15,896 shares of company stock worth $4,187,260 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

MongoDB Trading Down 1.3 %

Shares of MongoDB stock opened at $289.14 on Tuesday. The firm has a market capitalization of $21.21 billion, a price-to-earnings ratio of -102.90 and a beta of 1.15. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The stock has a 50 day moving average of $266.49 and a 200 day moving average of $286.66.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.63) earnings per share. As a group, research analysts predict that MongoDB, Inc. will post -2.44 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Needham & Company LLC upped their price target on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. UBS Group upped their price target on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. Scotiabank upped their price target on MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a report on Friday, August 30th. Finally, DA Davidson upped their price target on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and an average price target of $337.96.

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.