Thrivent Financial for Lutherans Cuts Stake in MongoDB, Inc. (NASDAQ:MDB)

Thrivent Financial for Lutherans trimmed its stake in MongoDB, Inc. (NASDAQ:MDB) by 17.7% in the third quarter, Holdings Channel.com reports. The firm owned 349,251 shares of the company’s stock after selling 75,151 shares during the quarter. Thrivent Financial for Lutherans’ holdings in MongoDB were worth $94,420,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MFA Wealth Advisors LLC acquired a new position in shares of MongoDB in the 2nd quarter valued at about $25,000. J.Safra Asset Management Corp grew its stake in MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares during the period. Quarry LP increased its position in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares in the last quarter. Hantz Financial Services Inc. purchased a new position in shares of MongoDB in the 2nd quarter valued at $35,000. Finally, GAMMA Investing LLC lifted its holdings in shares of MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on MDB. Bank of America raised their price objective on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Wells Fargo & Company lifted their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Citigroup upped their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Needham & Company LLC raised their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, DA Davidson boosted their price target on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $336.54.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of the company’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 $39,462.50. Following the completion of the sale, the chief accounting officer now directly owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Friday, August 30th. The shares were sold at an average price of $290.40, for a total value of $290,400.00. Following the transaction, the director now directly owns 1,138,006 shares of the company’s stock, valued at approximately $330,476,942.40. The trade was a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 24,281 shares of company stock valued at $6,657,121 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

MongoDB Stock Performance

Shares of MDB stock opened at $279.77 on Monday. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The business has a 50 day moving average of $278.10 and a two-hundred day moving average of $274.30. The company has a market cap of $20.67 billion, a P/E ratio of -92.64 and a beta of 1.15. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.49 by $0.21. The company 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. As a group, analysts anticipate that MongoDB, Inc. will post -2.39 EPS for the current year.

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.