Allspring Global Investments Holdings LLC Acquires 15,825 Shares of MongoDB, Inc. (NASDAQ:MDB)

Allspring Global Investments Holdings LLC increased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 9.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 191,115 shares of the company’s stock after purchasing an additional 15,825 shares during the period. Allspring Global Investments Holdings LLC owned 0.26% of MongoDB worth $46,691,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. UNICOM Systems Inc. bought a new position in shares of MongoDB during the fourth quarter valued at approximately $4,889,000. Summit Trail Advisors LLC bought a new position in shares of MongoDB during the fourth quarter valued at approximately $224,000. Sycomore Asset Management boosted its stake in shares of MongoDB by 22.3% during the fourth quarter. Sycomore Asset Management now owns 41,780 shares of the company’s stock valued at $9,727,000 after purchasing an additional 7,607 shares in the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in MongoDB in the fourth quarter valued at approximately $15,522,000. Finally, Stephens Investment Management Group LLC boosted its stake in MongoDB by 34.3% in the fourth quarter. Stephens Investment Management Group LLC now owns 41,183 shares of the company’s stock valued at $9,588,000 after acquiring an additional 10,519 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MongoDB

In other news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the sale, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $323.00, for a total transaction of $969,000.00. Following the completion of the sale, the director now owns 1,121,006 shares in the company, valued at approximately $362,084,938. This trade represents a 0.27 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 43,094 shares of company stock valued at $11,705,293. Corporate insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on MDB shares. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Citigroup raised their target price on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Truist Financial restated a “buy” rating and issued a $400.00 target price (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. DA Davidson raised their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Finally, Robert W. Baird raised their target price on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Stock Performance

MDB opened at $292.97 on Friday. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $488.00. The company has a fifty day moving average of $264.56 and a two-hundred day moving average of $271.42. The stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of -106.92 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter in the previous year, the company earned $0.96 earnings per share. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. On average, equities research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

MongoDB Company Profile

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.