The Manufacturers Life Insurance Company Reduces Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

The Manufacturers Life Insurance Company trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB) by 46.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,927 shares of the company’s stock after selling 13,174 shares during the period. The Manufacturers Life Insurance Company’s holdings in MongoDB were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of MongoDB during the 4th quarter worth about $606,000. Union Bancaire Privee UBP SA acquired a new position in MongoDB in the 4th quarter valued at $3,515,000. HighTower Advisors LLC raised its holdings in MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after acquiring an additional 372 shares during the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of MongoDB by 428.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after purchasing an additional 4,665 shares during the last quarter. Finally, Covea Finance acquired a new position in MongoDB in the fourth quarter valued at $3,841,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Monday, February 10th. The stock was sold at an average price of $281.62, for a total transaction of $281,620.00. Following the completion of the transaction, the director now directly owns 1,112,006 shares of the company’s stock, valued at approximately $313,163,129.72. This trade represents a 0.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the sale, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,423 shares of company stock worth $7,429,989. 3.60% of the stock is owned by company insiders.

MongoDB Stock Down 0.4 %

Shares of MDB stock opened at $178.54 on Friday. The business has a 50 day moving average of $176.07 and a two-hundred day moving average of $241.86. The company has a market cap of $14.50 billion, a P/E ratio of -65.16 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $379.06.

MongoDB (NASDAQ:MDB) last posted its 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). 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 the consensus estimate of $519.65 million. During the same quarter in the previous year, the business posted $0.86 earnings per share. Analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on MDB. Morgan Stanley lowered their price target on MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a report on Wednesday, April 16th. Daiwa America raised shares of MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Wedbush cut their target price on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Stifel Nicolaus lowered their price target on MongoDB from $340.00 to $275.00 and set a “buy” rating for the company in a research report on Friday, April 11th. Finally, Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (down previously from $240.00) on shares of MongoDB in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $294.78.

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.