Bank of New York Mellon Corp Decreases Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Bank of New York Mellon Corp lowered its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 26.0% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 684,109 shares of the company's stock after selling 240,312 shares during the quarter. Bank of New York Mellon Corp owned about 0.92% of MongoDB worth $159,267,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Nisa Investment Advisors LLC increased its position in MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company's stock worth $295,000 after purchasing an additional 40 shares during the last quarter. Hilltop National Bank grew its stake in shares of MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after buying an additional 42 shares in the last quarter. Avestar Capital LLC increased its holdings in shares of MongoDB by 2.0% in the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company's stock worth $504,000 after buying an additional 42 shares during the last quarter. Rakuten Securities Inc. raised its position in MongoDB by 16.5% during the third quarter. Rakuten Securities Inc. now owns 332 shares of the company's stock valued at $90,000 after purchasing an additional 47 shares during the period. Finally, Prime Capital Investment Advisors LLC raised its holdings in MongoDB by 5.2% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company's stock valued at $322,000 after buying an additional 59 shares during the period. Institutional investors own 89.29% of the company's stock.

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Insider Buying and Selling

In other news, CEO Dev Ittycheria sold 2,581 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $604,186.29. Following the completion of the transaction, the chief executive officer now directly owns 217,294 shares of the company's stock, valued at $50,866,352.46. The trade was a 1.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Cedric Pech sold 287 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 47,314 shares of company stock valued at $12,525,863 over the last 90 days. Insiders own 3.60% of the company's stock.

MongoDB Stock Performance

Shares of NASDAQ MDB traded down $2.36 during mid-day trading on Tuesday, hitting $256.66. The stock had a trading volume of 948,223 shares, compared to its average volume of 1,593,751. The company has a 50 day moving average of $263.05 and a two-hundred day moving average of $275.34. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $443.09. The firm has a market cap of $19.11 billion, a PE ratio of -93.54 and a beta of 1.28.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the previous year, the company posted $0.96 earnings per share. The company's revenue was up 22.3% compared to the same quarter last year. Equities research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on MDB shares. Macquarie began coverage on MongoDB in a research report on Thursday, December 12th. They set a "neutral" rating and a $300.00 target price for the company. Barclays cut their price objective on MongoDB from $400.00 to $330.00 and set an "overweight" rating on the stock in a research report on Friday, January 10th. Tigress Financial lifted their target price on MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Loop Capital reduced their price target on shares of MongoDB from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Monday. Finally, JMP Securities reiterated a "market outperform" rating and set a $380.00 price objective on shares of MongoDB in a report on Wednesday, December 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $359.33.

About MongoDB

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.