Price T Rowe Associates Inc. MD Sells 2,421,853 Shares of MongoDB, Inc. (NASDAQ:MDB)

Price T Rowe Associates Inc. MD lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 73.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 863,183 shares of the company's stock after selling 2,421,853 shares during the quarter. Price T Rowe Associates Inc. MD owned about 1.16% of MongoDB worth $200,959,000 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 the business. Morse Asset Management Inc bought a new position in shares of MongoDB during the 3rd quarter valued at about $81,000. Virtu Financial LLC grew its holdings in MongoDB by 351.2% during the 3rd quarter. Virtu Financial LLC now owns 10,016 shares of the company's stock valued at $2,708,000 after buying an additional 7,796 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in MongoDB in the 3rd quarter worth approximately $44,000. Tidal Investments LLC increased its position in MongoDB by 76.8% in the third quarter. Tidal Investments LLC now owns 7,859 shares of the company's stock worth $2,125,000 after purchasing an additional 3,415 shares during the last quarter. Finally, Principal Financial Group Inc. raised its stake in MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company's stock valued at $1,648,000 after purchasing an additional 160 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on MDB shares. Needham & Company LLC reduced their target price on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Guggenheim raised MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a research note on Monday, January 6th. Barclays cut their target price on MongoDB from $330.00 to $280.00 and set an "overweight" 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 target for the company in a research report on Thursday, April 17th. Finally, Monness Crespi & Hardt raised shares of MongoDB from a "sell" rating to a "neutral" rating in a research note on Monday, March 3rd. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $294.78.

MongoDB Stock Up 0.2 %

Shares of MDB stock opened at $173.50 on Friday. The firm has a market cap of $14.09 billion, a price-to-earnings ratio of -63.32 and a beta of 1.49. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $387.19. The company's 50 day moving average is $195.15 and its 200 day moving average is $248.95.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results 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 company 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 quarter in the prior year, the business posted $0.86 earnings per share. Analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 885 shares of the company's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total transaction of $258,464.25. Following the transaction, the director now directly owns 83,845 shares of the company's stock, valued at $24,486,932.25. This represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Thomas Bull sold 301 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were 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 of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 47,680 shares of company stock worth $10,819,027. 3.60% of the stock is owned by corporate 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.

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