Jennison Associates LLC Cuts Stake in MongoDB, Inc. (NASDAQ:MDB)

Jennison Associates LLC cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 99.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,590 shares of the company's stock after selling 3,083,434 shares during the quarter. Jennison Associates LLC's holdings in MongoDB were worth $4,328,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of MongoDB in the 4th quarter worth $606,000. Aigen Investment Management LP bought a new stake in MongoDB in the 3rd quarter worth about $1,045,000. Geode Capital Management LLC raised its position in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock worth $331,776,000 after buying an additional 34,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in MongoDB during the 3rd quarter valued at about $4,366,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of MongoDB by 2.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company's stock valued at $75,271,000 after acquiring an additional 7,575 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Stock Up 3.1 %

Shares of MongoDB stock traded up $8.49 on Monday, reaching $286.36. 1,137,375 shares of the stock were exchanged, compared to its average volume of 1,561,048. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The business has a 50 day moving average price of $267.08 and a two-hundred day moving average price of $270.83. The firm has a market capitalization of $21.33 billion, a price-to-earnings ratio of -104.51 and a beta of 1.28.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million during the quarter, compared to analysts' expectations of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business's quarterly revenue was up 22.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.96 EPS. Research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company's stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Cedric Pech sold 287 shares of the business'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 completion of the transaction, the insider now owns 24,390 shares of the company's stock, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,491 shares of company stock valued at $11,543,480. 3.60% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDB. Cantor Fitzgerald assumed coverage on MongoDB in a report on Friday, January 17th. They issued an "overweight" rating and a $344.00 price objective for the company. Truist Financial reiterated a "buy" rating and set a $400.00 target price (up from $320.00) on shares of MongoDB in a research report on Tuesday, December 10th. Scotiabank reduced their price target on MongoDB from $350.00 to $275.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. China Renaissance started coverage on MongoDB in a research note on Tuesday, January 21st. They set a "buy" rating and a $351.00 price objective for the company. Finally, Monness Crespi & Hardt lowered shares of MongoDB from a "neutral" rating to a "sell" rating and set a $220.00 target price for the company. in a report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and an average price target of $361.00.

MongoDB 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.