Envestnet Asset Management Inc. Reduces Holdings in MongoDB, Inc. (NASDAQ:MDB)

Envestnet Asset Management Inc. lessened its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 14.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 88,114 shares of the company's stock after selling 14,925 shares during the period. Envestnet Asset Management Inc. owned 0.12% of MongoDB worth $20,514,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in MDB. Hilltop National Bank grew its stake in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after acquiring an additional 42 shares during the last quarter. NCP Inc. purchased a new stake in shares of MongoDB during the fourth quarter valued at $35,000. Versant Capital Management Inc increased its position in shares of MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after acquiring an additional 165 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in MongoDB during the 3rd quarter valued at about $44,000. Finally, Morse Asset Management Inc acquired a new position in shares of MongoDB in the third quarter valued at about $81,000. 89.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of recent research reports. The Goldman Sachs Group dropped their target price on MongoDB from $390.00 to $335.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price objective for the company in a research note on Thursday. Oppenheimer lowered their target price on MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a research note on Thursday, March 6th. Barclays decreased their price target on MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, UBS Group set a $350.00 price objective on shares of MongoDB in a research note on Tuesday, March 4th. Eight equities 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $299.78.

Insider Activity at MongoDB

In related news, CFO Srdjan Tanjga sold 525 shares of the business's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the transaction, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. The trade was a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the sale, the director now directly owns 83,845 shares of the company's stock, valued at $24,486,932.25. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 48,680 shares of company stock worth $11,084,027. Company insiders own 3.60% of the company's stock.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $0.78 during midday trading on Friday, reaching $159.26. 1,549,284 shares of the company's stock were exchanged, compared to its average volume of 1,810,104. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of -58.12 and a beta of 1.49. The firm's 50 day simple moving average is $210.69 and its two-hundred day simple moving average is $253.11. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $387.19.

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