Perigon Wealth Management LLC decreased its holdings in Mongodb Inc (NASDAQ:MDB) by 20.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,897 shares of the company’s stock after selling 739 shares during the period. Perigon Wealth Management LLC’s holdings in Mongodb were worth $656,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. M&T Bank Corp purchased a new position in Mongodb in the 2nd quarter worth approximately $271,000. Koshinski Asset Management Inc. purchased a new position in shares of Mongodb in the second quarter worth $269,000. Avestar Capital LLC bought a new position in shares of Mongodb during the second quarter worth $291,000. Emerald Advisers LLC bought a new position in shares of Mongodb during the second quarter worth $519,000. Finally, Nissay Asset Management Corp Japan ADV grew its stake in Mongodb by 1.5% during the second quarter. Nissay Asset Management Corp Japan ADV now owns 4,668 shares of the company’s stock valued at $1,057,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 84.67% of the company’s stock.
In other Mongodb news, CEO Dev Ittycheria sold 23,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $235.00, for a total transaction of $5,405,000.00. Following the sale, the chief executive officer now owns 264,167 shares of the company’s stock, valued at $62,079,245. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CTO Eliot Horowitz sold 28,816 shares of the firm’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $222.66, for a total value of $6,416,170.56. Following the transaction, the chief technology officer now owns 1,314,835 shares in the company, valued at approximately $292,761,161.10. The disclosure for this sale can be found here. Insiders sold 126,571 shares of company stock valued at $27,098,149 in the last 90 days. Company insiders own 16.28% of the company’s stock.
Mongodb (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, June 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.12. The business had revenue of $130.33 million during the quarter, compared to analyst estimates of $119.72 million. Mongodb had a negative return on equity of 94.98% and a negative net margin of 42.42%. The business’s revenue was up 45.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.22) earnings per share. On average, analysts anticipate that Mongodb Inc will post -3.3 earnings per share for the current fiscal year.
Several research analysts have commented on the stock. Zacks Investment Research downgraded shares of Mongodb from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Citigroup increased their price target on Mongodb from $175.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Canaccord Genuity lifted their price objective on Mongodb from $130.00 to $245.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. They noted that the move was a valuation call. Barclays increased their target price on Mongodb from $130.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, June 2nd. They noted that the move was a valuation call. Finally, Piper Sandler raised their target price on shares of Mongodb from $138.00 to $226.00 and gave the company an “overweight” rating in a report on Friday, June 5th. One analyst has rated the stock with a sell rating, eight have given a hold rating and ten have assigned a buy rating to the stock. Mongodb currently has a consensus rating of “Hold” and a consensus target price of $206.87.
MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.
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