May 29, 2023 – Clearbridge Investments LLC has recently released their latest filing with the Securities and Exchange Commission (SEC) which shows a significant decrease in their position in MongoDB, Inc. (NASDAQ:MDB). According to the filing, the firm reduced its holdings in MongoDB by 85.0% during the fourth quarter of last year. The company now owns only 3,481 shares of MongoDB’s stocks, down from their previous number of 19,791 shares.
This development is just one example of how quickly things can change in the stock market. MongoDB was founded by Eliot Horowitz and Dwight A., with a mission to provide a versatile database platform that could meet various business needs. The company’s products include MongoDB Enterprise Advanced, Atlas, Community Server as well as professional services such as consulting and training.
Despite being seen as a promising investment option earlier on, MDB appears to have experienced a decline lately. The company’s stock opened at $283.36 on Monday this week. Their current market capitalization stands at $19.85 billion with price-to-earnings ratio of -56.22 while also boasting a beta factor of 1.06. Other indicators like their quick ratio and debt-to-equity ratio tell us that there may be some challenges within the company.
MDB has experienced fluctuations in share prices over time; peaking at their 1-year high of $390.84 but has since declined sharply reaching $135.15 this past year alone.
In conclusion, investing requires astute observation about different market trends and an ability to predict future changes in those trends but past performance does not guarantee future outcomes or results on an investment portfolio just like what happened to Clearbridge Investments LLC who thought previously to invest on MDB but fortunately they sell off almost all their shares before any more market changes arise–saving themselves millions or billions!
Insights into MongoDB Stock Ownership and Analyst Ratings
MongoDB: Who Owns the Stock and What Analysts are Saying
MongoDB, Inc is a well-known company that provides database platforms. The company develops MongoDB Enterprise Advanced, Atlas, Community Server, and professional services such as training and consulting.
Several institutional investors have shown an increasing interest in the company’s stock. Allworth Financial LP has grown its shareholding by 12.9%, a move that resulted in the acquisition of an extra 58 shares worth $100,000. Cetera Advisor Networks LLC increased its position by 7.4% to land at 860 shares valued at $223,000. Janney Montgomery Scott LLC added 1,512 shares after boosting their stake in the firm by 4.5%, while Park Avenue Securities LLC purchased another 77 MongoDB shares during this period to bring their holding to a total of 1,350 representing $266,000 in valuation. Fifth Third Bancorp holds an additional 93 shares valued at $142,000 after raising its stake level in MongoDB by 14.8%.
At present institutional investors and hedge funds hold roughly around 84% of the company’s outstanding stock.
Following its recent earnings report announced on March 8th this year, MongoDB received ‘buy’ ratings from nineteen research analysts while two issued ‘hold’ recommendations and only one reduced its rating to sell; resulting in Bloomberg data reflecting the Current consensus rating of “Moderate Buy.”
KeyCorp raised their price estimate on MDB’s stock from $229 to $264 per share with an “overweight” rating on April 20th while the Tigress Financial Corporation restated a “buy” rating with target pricing set at $365 making MongoDB shares highly sought after.
However as per Mizuho Securities USA last March they downgraded MDB’s price target from what was initially estimated at $220 downward now reflecting approximately close to just under a-half or closer at around $180 for a neutral stock rating stating figures not on par with initial estimates.
CEO Dev Ittycheria and CAO Thomas Bull both sold shares of MongoDB, Inc. recently that total 135,108 shares. These transactions have significantly reduced the insider’s stocks to only 4.80% of the company’s stock currently.
Based on its Q1 numbers, MongoDB had a return on equity reading negative at 48.38% with a negative net margin of 26.90%, which was better than what Wall Street analysts had estimated to be around $335.84 million in revenue; putting MDB on track for -4.04 earnings per share this fiscal year, according to experts’ forecasts.
In summary, although the share prices fluctuate like any other traded item and there is no guarantee for any analyst prognosis but overall MDB seems well positioned for growth opportunity due to the huge backing of institutional investors and hedge funds combined with its consistently positive earnings report results.