Bank of New York Mellon Corp Lowers Position in MongoDB, Inc. (NASDAQ:MDB)

Bank of New York Mellon Corp cut its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 26.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 684,109 shares of the company’s stock after selling 240,312 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.92% of MongoDB worth $159,267,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of MDB. Jennison Associates LLC raised its holdings in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after buying an additional 294,228 shares in the last quarter. Avala Global LP purchased a new position in shares of MongoDB during the 3rd quarter valued at about $47,960,000. Eagle Asset Management Inc. purchased a new position in shares of MongoDB during the 3rd quarter valued at about $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of MongoDB during the 3rd quarter valued at about $25,636,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Loop Capital raised their price objective on MongoDB from $315.00 to $400.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Royal Bank of Canada lifted their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Barclays decreased their price target on MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price target on the stock. Finally, Monness Crespi & Hardt cut MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price target on the stock. in a research note on Monday, December 16th. Two analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Stock Up 1.9 %

NASDAQ MDB opened at $267.43 on Friday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $449.12. The firm has a market capitalization of $19.92 billion, a PE ratio of -97.60 and a beta of 1.28. The stock’s 50 day moving average is $262.30 and its 200 day moving average is $274.58.

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

Insiders Place Their Bets

In other MongoDB news, insider Cedric Pech sold 287 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $58,121,799.12. This trade represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 50,314 shares of company stock valued at $13,494,863. 3.60% of the stock is currently owned by corporate insiders.

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.