Wells Fargo & Company MN Has $27.03 Million Position in MongoDB, Inc. (NASDAQ:MDB)

Wells Fargo & Company MN lessened its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 99.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 116,104 shares of the company's stock after selling 11,549,388 shares during the period. Wells Fargo & Company MN owned about 0.16% of MongoDB worth $27,030,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in MongoDB in the fourth quarter valued at about $189,584,000. Raymond James Financial Inc. bought a new position in shares of MongoDB during the 4th quarter worth approximately $90,478,000. Amundi boosted its stake in MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company's stock valued at $172,519,000 after buying an additional 321,186 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock worth $69,119,000 after acquiring an additional 294,228 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after acquiring an additional 181,962 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MDB. Wells Fargo & Company downgraded shares of MongoDB from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Monness Crespi & Hardt raised MongoDB from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Tigress Financial increased their target price on MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Oppenheimer cut their price target on MongoDB from $400.00 to $330.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC lowered their price objective on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $303.97.

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MongoDB Price Performance

Shares of MDB traded down $1.35 during midday trading on Wednesday, hitting $157.23. The stock had a trading volume of 1,399,507 shares, compared to its average volume of 1,804,346. The firm has a market cap of $12.77 billion, a price-to-earnings ratio of -57.38 and a beta of 1.49. The company has a 50 day simple moving average of $215.59 and a two-hundred day simple moving average of $254.53. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly 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 return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period in the prior year, the business earned $0.86 earnings per share. Analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was 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. This trade represents a 7.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction that occurred on 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 directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 57,015 shares of company stock valued at $13,208,285. 3.60% of the stock is owned by insiders.

About MongoDB

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.