Oppenheimer Asset Management Inc. Sells 2,071 Shares of MongoDB, Inc. (NASDAQ:MDB)

Oppenheimer Asset Management Inc. cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 29.4% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,973 shares of the company's stock after selling 2,071 shares during the period. Oppenheimer Asset Management Inc.'s holdings in MongoDB were worth $1,158,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDB. Jennison Associates LLC increased its holdings in MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock worth $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Assenagon Asset Management S.A. increased its holdings in MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock worth $69,119,000 after purchasing an additional 294,228 shares during the last quarter. Avala Global LP purchased a new stake in MongoDB during the 3rd quarter worth approximately $47,960,000. Eagle Asset Management Inc. bought a new stake in shares of MongoDB in the 3rd quarter valued at approximately $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of MongoDB in the 3rd quarter valued at approximately $25,636,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Piper Sandler lowered their price target on MongoDB from $425.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday. JMP Securities reiterated a "market outperform" rating and issued a $380.00 price target on shares of MongoDB in a report on Wednesday, December 11th. Oppenheimer lowered their price target on MongoDB from $400.00 to $330.00 and set an "outperform" rating for the company in a report on Thursday. Bank of America lowered their price target on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a report on Thursday. Finally, Morgan Stanley lowered their price target on MongoDB from $350.00 to $315.00 and set an "overweight" rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company's stock. According to MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and an average price target of $319.87.

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MongoDB Trading Down 2.8 %

MDB stock traded down $5.33 during trading hours on Friday, hitting $187.65. 5,777,748 shares of the stock traded hands, compared to its average volume of 1,663,327. The stock has a 50-day simple moving average of $261.68 and a 200 day simple moving average of $274.23. MongoDB, Inc. has a one year low of $181.05 and a one year high of $411.50. The company has a market cap of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates 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 company had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same quarter last year, the business earned $0.86 EPS. Analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares of the company's stock, valued at approximately $300,130,293.78. This represents a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 217,294 shares of the company's stock, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,314 shares of company stock worth $13,337,753 in the last quarter. 3.60% of the stock is owned by company insiders.

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.