LPL Financial LLC lowered its position in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 36,670 shares of the company’s stock after selling 2,771 shares during the period. LPL Financial LLC’s holdings in MongoDB were worth $8,537,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Hilltop National Bank grew its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. acquired a new position in MongoDB during the fourth quarter worth approximately $35,000. Continuum Advisory LLC increased its stake in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares during the period. Versant Capital Management Inc boosted its stake in shares of MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after buying an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB acquired a new position in MongoDB in the 3rd quarter valued at about $44,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the subject of several research analyst reports. Citigroup cut their price objective on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Macquarie decreased their price target on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Rosenblatt Securities restated a “buy” rating and issued a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. Royal Bank of Canada dropped their price objective on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Finally, Morgan Stanley dropped their target price on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $312.84.

Check Out Our Latest Research Report on MongoDB

MongoDB Stock Performance

MongoDB stock traded down $7.01 during midday trading on Monday, reaching $147.38. 5,169,359 shares of the company’s stock were exchanged, compared to its average volume of 1,771,877. The firm has a market cap of $11.97 billion, a price-to-earnings ratio of -53.79 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $140.96 and a 52 week high of $387.19. The stock’s 50-day simple moving average is $236.68 and its 200 day simple moving average is $261.78.

MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the business posted $0.86 earnings per share. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the sale, the chief financial officer now owns 6,406 shares of the company’s stock, valued at approximately $1,109,903.56. This trade represents a 7.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,060 shares of company stock worth $13,461,875 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

About MongoDB

(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.

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