MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lowered its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 5.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 87,001 shares of the company's stock after selling 5,503 shares during the quarter. Alliancebernstein L.P. owned 0.12% of MongoDB worth $20,255,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in MDB. Captrust Financial Advisors lifted its holdings in MongoDB by 19.0% in the third quarter. Captrust Financial Advisors now owns 1,445 shares of the company's stock valued at $391,000 after acquiring an additional 231 shares during the period. HighTower Advisors LLC boosted its holdings in MongoDB by 6.1% during the third quarter. HighTower Advisors LLC now owns 18,401 shares of the company's stock worth $4,986,000 after buying an additional 1,065 shares in the last quarter. Morse Asset Management Inc acquired a new stake in MongoDB during the third quarter valued at $81,000. Royal London Asset Management Ltd. increased its holdings in MongoDB by 4.1% in the third quarter. Royal London Asset Management Ltd. now owns 27,830 shares of the company's stock valued at $7,524,000 after buying an additional 1,099 shares in the last quarter. Finally, Weiss Asset Management LP acquired a new position in shares of MongoDB in the third quarter worth about $217,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Stock Performance

Shares of MongoDB stock traded up $1.14 during trading hours on Friday, hitting $162.24. The company's stock had a trading volume of 1,677,145 shares, compared to its average volume of 1,799,806. The firm has a fifty day moving average of $220.46 and a 200-day moving average of $256.10. The stock has a market cap of $13.17 billion, a price-to-earnings ratio of -59.21 and a beta of 1.49. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $387.19.

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MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the company earned $0.86 EPS. On average, sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Bank of America cut their price target on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Loop Capital cut their price objective on MongoDB from $400.00 to $350.00 and set a "buy" rating for the company in a research report on Monday, March 3rd. Daiwa America raised MongoDB to a "strong-buy" rating in a research note on Tuesday, April 1st. Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price target on the stock in a research note on Monday, January 6th. Finally, Piper Sandler reduced their price objective on shares of MongoDB from $425.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $310.74.

Insider Activity

In other news, CEO Dev Ittycheria sold 18,512 shares of the company's stock in a transaction on 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 sale, the chief executive officer now owns 268,948 shares of the company's stock, valued at approximately $46,597,930.48. This represents a 6.44 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the transaction, the chief accounting officer now owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 58,060 shares of company stock valued at $13,461,875. 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.