Washington Harbour Partners LP Decreases Stake in MongoDB, Inc. (NASDAQ:MDB)

Washington Harbour Partners LP cut its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 10.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,500 shares of the company’s stock after selling 400 shares during the quarter. MongoDB makes up approximately 1.7% of Washington Harbour Partners LP’s portfolio, making the stock its 20th largest holding. Washington Harbour Partners LP’s holdings in MongoDB were worth $946,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Weiss Asset Management LP purchased a new stake in shares of MongoDB in the third quarter worth about $217,000. Sora Investors LLC bought a new position in MongoDB in the 3rd quarter valued at $2,704,000. Quarry LP grew its position in shares of MongoDB by 443.3% during the 3rd quarter. Quarry LP now owns 728 shares of the company’s stock valued at $197,000 after purchasing an additional 594 shares in the last quarter. Royal London Asset Management Ltd. increased its holdings in shares of MongoDB by 4.1% in the third quarter. Royal London Asset Management Ltd. now owns 27,830 shares of the company’s stock worth $7,524,000 after purchasing an additional 1,099 shares during the period. Finally, Point72 DIFC Ltd purchased a new stake in shares of MongoDB in the third quarter worth $3,725,000. Institutional investors own 89.29% of the company’s stock.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at $4,589,041.58. This represents a 5.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the transaction, the director now directly owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 26,600 shares of company stock worth $7,538,819. 3.60% of the stock is owned by company insiders.

MongoDB Stock Performance

MDB stock opened at $334.31 on Friday. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The stock’s fifty day moving average price is $287.82 and its 200-day moving average price is $270.71. 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 company has a market cap of $24.70 billion, a P/E ratio of -110.70 and a beta of 1.17.

Analysts Set New Price Targets

A number of analysts have recently issued reports on MDB shares. Scotiabank lifted their price target on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Wells Fargo & Company increased their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Bank of America lifted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Sanford C. Bernstein increased their target price on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Finally, DA Davidson upped their price objective on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $344.25.

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.