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Allspring Global Investments Holdings LLC decreased its stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 566,824 shares of the company’s stock after selling 21,744 shares during the period. Allspring Global Investments Holdings LLC owned 0.79% of MongoDB worth $196,043,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Assetmark Inc. lifted its holdings in shares of MongoDB by 247.7% in the 3rd quarter. Assetmark Inc. now owns 18,952 shares of the company’s stock valued at $6,555,000 after purchasing an additional 13,502 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its position in MongoDB by 1.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 15,509 shares of the company’s stock worth $5,364,000 after purchasing an additional 168 shares during the last quarter. Whittier Trust Co. boosted its stake in shares of MongoDB by 2.9% during the third quarter. Whittier Trust Co. now owns 32,328 shares of the company’s stock worth $11,180,000 after buying an additional 902 shares during the period. Park Avenue Securities LLC purchased a new position in shares of MongoDB during the third quarter worth about $622,000. Finally, Advisor Partners II LLC grew its position in MongoDB by 54.3% in the 3rd quarter. Advisor Partners II LLC now owns 1,137 shares of the company’s stock valued at $393,000 after buying an additional 400 shares during the last quarter. 88.89% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several research firms recently issued reports on MDB. KeyCorp cut their price target on shares of MongoDB from $495.00 to $440.00 and set an “overweight” rating for the company in a report on Monday, October 23rd. UBS Group reissued a “neutral” rating and issued a $410.00 price target (down from $475.00) on shares of MongoDB in a report on Thursday, January 4th. Truist Financial reiterated a “buy” rating and issued a $430.00 price objective on shares of MongoDB in a research report on Monday, November 13th. Bank of America started coverage on shares of MongoDB in a research report on Thursday, October 12th. They set a “buy” rating and a $450.00 target price on the stock. Finally, Scotiabank began coverage on shares of MongoDB in a report on Tuesday, October 10th. They issued a “sector perform” rating and a $335.00 price target for the company. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $430.41.
View Our Latest Stock Analysis on MDB
Insider Activity
In related news, CAO Thomas Bull sold 359 shares of MongoDB stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $404.38, for a total value of $145,172.42. Following the transaction, the chief accounting officer now owns 16,313 shares in the company, valued at $6,596,650.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CAO Thomas Bull sold 359 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $404.38, for a total value of $145,172.42. Following the transaction, the chief accounting officer now owns 16,313 shares in the company, valued at $6,596,650.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 100,500 shares of the business’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $375.00, for a total transaction of $37,687,500.00. Following the sale, the chief executive officer now owns 214,177 shares of the company’s stock, valued at $80,316,375. The disclosure for this sale can be found here. Insiders sold 147,029 shares of company stock valued at $56,304,511 in the last ninety days. Company insiders own 4.80% of the company’s stock.
MongoDB Stock Performance
Shares of MDB stock traded up $10.76 during mid-day trading on Wednesday, hitting $389.49. 711,064 shares of the company’s stock were exchanged, compared to its average volume of 1,477,245. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.74 and a quick ratio of 4.74. The stock has a 50-day simple moving average of $393.90 and a two-hundred day simple moving average of $380.73. MongoDB, Inc. has a fifty-two week low of $179.52 and a fifty-two week high of $442.84.
MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Tuesday, December 5th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.45. MongoDB had a negative net margin of 11.70% and a negative return on equity of 20.64%. The business had revenue of $432.94 million for the quarter, compared to analysts’ expectations of $406.33 million. During the same period last year, the company earned ($1.23) earnings per share. The company’s quarterly revenue was up 29.8% on a year-over-year basis. As a group, analysts predict that MongoDB, Inc. will post -1.64 earnings per share for the current fiscal year.
MongoDB Company Profile
MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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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