Bank of Montreal Can Sells 34,204,855 Shares of MongoDB, Inc. (NASDAQ:MDB)

Bank of Montreal Can lowered its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 99.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,055 shares of the company's stock after selling 34,204,855 shares during the quarter. Bank of Montreal Can owned 0.12% of MongoDB worth $20,733,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in MDB. Norges Bank purchased a new position in shares of MongoDB during the 4th quarter valued at approximately $189,584,000. Raymond James Financial Inc. acquired a new position in MongoDB during the 4th quarter worth $90,478,000. Amundi increased its position in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company's stock worth $172,519,000 after purchasing an additional 321,186 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of MongoDB by 11,057.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock valued at $69,119,000 after purchasing an additional 294,228 shares in the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after purchasing an additional 181,962 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $1.37 during mid-day trading on Wednesday, reaching $159.95. 1,807,606 shares of the company traded hands, compared to its average volume of 1,806,054. The stock has a market cap of $12.99 billion, a PE ratio of -58.38 and a beta of 1.49. The company's fifty day moving average is $215.59 and its two-hundred day moving average is $254.53. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $387.19.

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MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results 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 return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter last year, the business earned $0.86 EPS. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company's stock, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 57,015 shares of company stock valued at $13,208,285 in the last three months. Company insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on MDB shares. UBS Group set a $350.00 price objective on MongoDB in a research note on Tuesday, March 4th. Tigress Financial upped their price target on MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. China Renaissance assumed coverage on shares of MongoDB in a research note on Tuesday, January 21st. They set a "buy" rating and a $351.00 target price for the company. Morgan Stanley reduced their price target on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, KeyCorp downgraded shares of MongoDB from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Seven research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $303.97.

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.