Allspring Global Investments Holdings LLC trimmed its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 98.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 3,196 shares of the company’s stock after selling 187,919 shares during the period. Allspring Global Investments Holdings LLC’s holdings in MongoDB were worth $564,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank purchased a new position in MongoDB in the 4th quarter worth about $189,584,000. Marshall Wace LLP purchased a new stake in MongoDB in the fourth quarter worth approximately $110,356,000. D1 Capital Partners L.P. bought a new stake in MongoDB in the 4th quarter worth approximately $76,129,000. Franklin Resources Inc. raised its stake in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after buying an additional 181,962 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of MongoDB by 69.1% during the 4th quarter. Pictet Asset Management Holding SA now owns 356,964 shares of the company’s stock valued at $83,105,000 after buying an additional 145,854 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

MDB opened at $217.12 on Thursday. The firm has a market capitalization of $17.74 billion, a PE ratio of -190.46 and a beta of 1.41. The business’s 50-day moving average is $197.71 and its two-hundred day moving average is $214.60. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00.

MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same period in the previous year, the company earned $0.51 earnings per share. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director directly owned 21,096 shares of the company’s stock, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $468,000.00. Following the sale, the director directly owned 1,107,006 shares in the company, valued at approximately $259,039,404. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,746 shares of company stock valued at $7,500,196. Company insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MDB shares. Barclays lifted their price target on shares of MongoDB from $252.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Monness Crespi & Hardt raised MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price target for the company in a report on Thursday, June 5th. Citigroup reduced their price target on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. UBS Group lifted their price objective on MongoDB from $213.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, June 5th. Finally, Cantor Fitzgerald boosted their price objective on MongoDB from $252.00 to $271.00 and gave the company an “overweight” rating in a research note on Thursday, June 5th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus target price of $282.39.

Check Out Our Latest Report on MongoDB

MongoDB Profile

(Free Report)

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.

See Also

Receive News & Ratings for MongoDB Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for MongoDB and related companies with MarketBeat.com’s FREE daily email newsletter.