Wells Fargo & Company MN cut its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 99.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 116,104 shares of the company’s stock after selling 11,549,388 shares during the quarter. Wells Fargo & Company MN owned 0.16% of MongoDB worth $27,030,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hilltop National Bank increased its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. bought a new position in shares of MongoDB during the 4th quarter valued at approximately $35,000. Continuum Advisory LLC increased its position in shares of MongoDB by 621.1% during the 3rd 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 last quarter. Versant Capital Management Inc raised its holdings in MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after buying an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new stake in MongoDB in the third quarter worth $44,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Up 0.7 %

NASDAQ:MDB opened at $162.24 on Friday. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of -59.21 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $387.19. The firm has a 50 day moving average of $220.46 and a 200 day moving average of $256.10.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the prior year, the company posted $0.86 EPS. As a group, analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of the sale, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. The trade was a 6.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 58,060 shares of company stock worth $13,461,875. Insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the topic of several recent analyst reports. Scotiabank reissued a “sector perform” rating and issued a $240.00 target price (down previously from $275.00) on shares of MongoDB in a research note on Wednesday, March 5th. Daiwa America raised shares of MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Monness Crespi & Hardt upgraded MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Canaccord Genuity Group cut their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Tigress Financial boosted their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $310.74.

View Our Latest Research Report on MongoDB

MongoDB Company 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.

Further Reading

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