LPL Financial LLC Sells 2,771 Shares of MongoDB, Inc. (NASDAQ:MDB)

LPL Financial LLC reduced its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 7.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 36,670 shares of the company's stock after selling 2,771 shares during the period. LPL Financial LLC's holdings in MongoDB were worth $8,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in MDB. Hilltop National Bank grew its stake in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares during the period. NCP Inc. purchased a new position in shares of MongoDB in the 4th quarter worth about $35,000. Continuum Advisory LLC grew its position in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after buying an additional 118 shares during the period. Versant Capital Management Inc increased its holdings in MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $42,000 after buying an additional 165 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in MongoDB in the third quarter worth about $44,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDB. Cantor Fitzgerald assumed coverage on shares of MongoDB in a research report on Wednesday, March 5th. They set an "overweight" rating and a $344.00 target price for the company. Robert W. Baird decreased their target price on MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Piper Sandler lowered their target price on MongoDB from $425.00 to $280.00 and set an "overweight" rating on the stock in a research note on Thursday, March 6th. Canaccord Genuity Group cut their price target on MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Finally, Citigroup lowered their price objective on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Seven research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $312.84.

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Insider Activity

In other MongoDB news, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This trade represents a 7.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,060 shares of company stock valued at $13,461,875. 3.60% of the stock is currently owned by insiders.

MongoDB Stock Performance

NASDAQ:MDB traded down $10.24 during mid-day trading on Thursday, reaching $161.10. The stock had a trading volume of 2,332,549 shares, compared to its average volume of 1,796,344. MongoDB, Inc. has a one year low of $140.78 and a one year high of $387.19. The firm has a 50 day moving average price of $222.73 and a two-hundred day moving average price of $256.90. The stock has a market capitalization of $13.08 billion, a P/E ratio of -58.80 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to analysts' expectations 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 last year, the company posted $0.86 EPS. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current 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.