Plato Investment Management Ltd Lowers Stake in MongoDB, Inc. (NASDAQ:MDB)

Plato Investment Management Ltd trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB) by 16.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 902 shares of the company’s stock after selling 176 shares during the period. Plato Investment Management Ltd’s holdings in MongoDB were worth $244,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MDB. Advisors Asset Management Inc. grew its position in MongoDB by 12.9% in the 1st quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock valued at $116,000 after buying an additional 37 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of MongoDB by 1.2% in the first quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock valued at $1,169,000 after acquiring an additional 39 shares in the last quarter. Nisa Investment Advisors LLC increased its stake in shares of MongoDB by 3.8% during the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after acquiring an additional 40 shares during the period. Taylor Frigon Capital Management LLC raised its holdings in MongoDB by 0.4% during the second quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock worth $2,475,000 after purchasing an additional 42 shares in the last quarter. Finally, Tanager Wealth Management LLP lifted its position in MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after purchasing an additional 43 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

MDB has been the subject of a number of analyst reports. Royal Bank of Canada reissued an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. Oppenheimer raised their target price on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research note on Friday, August 30th. Barclays raised their price objective on shares of MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday. Finally, DA Davidson increased their target price on shares of MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $336.54.

MongoDB Price Performance

MongoDB stock opened at $279.77 on Friday. The firm’s 50-day moving average is $278.14 and its two-hundred day moving average is $275.57. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The stock has a market capitalization of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the business earned ($0.63) earnings per share. Equities analysts predict that MongoDB, Inc. will post -2.39 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total transaction of $872,370.00. Following the transaction, the director now owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. This trade represents a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 154 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This trade represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,281 shares of company stock worth $6,657,121. 3.60% of the stock is currently owned by insiders.

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.