MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 66.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 5,026 shares of the company’s stock after selling 10,150 shares during the period. Fred Alger Management LLC’s holdings in MongoDB were worth $1,170,000 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 stock. Norges Bank purchased a new stake in shares of MongoDB during the fourth quarter worth about $189,584,000. Marshall Wace LLP purchased a new stake in MongoDB during the 4th quarter worth approximately $110,356,000. Raymond James Financial Inc. purchased a new stake in MongoDB during the 4th quarter worth approximately $90,478,000. D1 Capital Partners L.P. acquired a new position in shares of MongoDB during the fourth quarter valued at approximately $76,129,000. Finally, Amundi lifted its position in shares of MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after acquiring an additional 321,186 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other MongoDB news, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the transaction, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred 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 sale, the director now owns 1,112,006 shares of the company’s stock, valued at $313,163,129.72. This represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 35,423 shares of company stock worth $7,429,989 over the last 90 days. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Wells Fargo & Company lowered MongoDB from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $365.00 to $225.00 in a report on Thursday, March 6th. China Renaissance started coverage on shares of MongoDB in a research note on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective for the company. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price objective (down previously from $240.00) on shares of MongoDB in a report on Friday, April 25th. Macquarie lowered their target price on MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Finally, Stifel Nicolaus cut their price target on MongoDB from $340.00 to $275.00 and set a “buy” rating for the company in a report on Friday, April 11th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $294.78.

MongoDB Trading Down 0.4 %

MongoDB stock opened at $178.54 on Friday. The firm has a market capitalization of $14.50 billion, a P/E ratio of -65.16 and a beta of 1.49. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $379.06. The stock’s fifty day simple moving average is $176.07 and its 200-day simple moving average is $241.73.

MongoDB (NASDAQ:MDB) last posted 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 analyst estimates 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 in the prior year, the business earned $0.86 EPS. Sell-side analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.