MongoDB (NASDAQ:MDB) Cut to “Hold” at Loop Capital

Loop Capital downgraded shares of MongoDB (NASDAQ:MDB) from a buy rating to a hold rating in a research note issued to investors on Tuesday, Marketbeat reports. The firm currently has $190.00 price objective on the stock, down from their prior price objective of $350.00.

MDB has been the topic of several other reports. Redburn Atlantic raised MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price on the stock in a report on Thursday, April 17th. Citigroup dropped their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Monness Crespi & Hardt upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. China Renaissance initiated coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target on the stock. Finally, Cantor Fitzgerald initiated coverage on MongoDB in a report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 target price on the stock. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average price target of $288.91.

MongoDB Stock Performance

NASDAQ:MDB opened at $188.58 on Tuesday. The company has a market capitalization of $15.31 billion, a price-to-earnings ratio of -68.82 and a beta of 1.49. The company has a 50-day moving average of $174.75 and a 200-day moving average of $236.90. MongoDB has a 52 week low of $140.78 and a 52 week high of $379.06.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (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 company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the company posted $0.86 earnings per share. Sell-side analysts forecast that MongoDB will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company’s stock, valued at $9,985,666.84. This trade represents a 2.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $58,121,799.12. The trade was a 3.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 33,538 shares of company stock worth $6,889,905. Insiders own 3.60% of the company’s stock.

Hedge Funds Weigh In On MongoDB

Institutional investors and hedge funds have recently modified their holdings of the stock. Acadian Asset Management LLC grew its position in shares of MongoDB by 181.8% in the first quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock valued at $98,586,000 after purchasing an additional 362,705 shares during the last quarter. IFM Investors Pty Ltd increased its holdings in shares of MongoDB by 4.3% during the first quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company’s stock worth $2,420,000 after purchasing an additional 569 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in MongoDB by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock worth $223,011,000 after buying an additional 129,451 shares in the last quarter. Woodline Partners LP lifted its position in shares of MongoDB by 30,297.0% during the 1st quarter. Woodline Partners LP now owns 322,208 shares of the company’s stock valued at $56,515,000 after acquiring an additional 321,148 shares during the period. Finally, Meiji Yasuda Life Insurance Co raised its stake in MongoDB by 36.1% in the first quarter. Meiji Yasuda Life Insurance Co now owns 3,997 shares of the company’s stock valued at $701,000 after purchasing an additional 1,060 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

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.