HighTower Advisors LLC Sells 2,454 Shares of MongoDB, Inc. $MDB

HighTower Advisors LLC trimmed its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 10.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,217 shares of the company’s stock after selling 2,454 shares during the quarter. HighTower Advisors LLC’s holdings in MongoDB were worth $8,905,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in shares of MongoDB by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock valued at $2,788,981,000 after purchasing an additional 431,382 shares during the period. ValueAct Holdings L.P. increased its stake in MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after acquiring an additional 1,427,700 shares during the last quarter. State Street Corp increased its stake in MongoDB by 3.7% in the 3rd quarter. State Street Corp now owns 1,756,628 shares of the company’s stock worth $545,222,000 after acquiring an additional 63,434 shares during the last quarter. Amundi increased its stake in MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after acquiring an additional 563,995 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. increased its stake in MongoDB by 162.1% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after acquiring an additional 852,540 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDB. Wells Fargo & Company decreased their target price on MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Stifel Nicolaus decreased their target price on MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Mizuho upgraded MongoDB from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $290.00 to $325.00 in a research note on Monday, March 23rd. Canaccord Genuity Group decreased their target price on MongoDB from $455.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Robert W. Baird upped their target price on MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 20th. Twenty-six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $373.37.

Insider Activity

In related news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the sale, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 6,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $314.98, for a total value of $1,889,880.00. Following the sale, the director owned 470,896 shares of the company’s stock, valued at $148,322,822.08. This represents a 1.26% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 31,566 shares of company stock valued at $8,744,791 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

MongoDB Stock Performance

Shares of MongoDB stock opened at $326.13 on Tuesday. The firm has a market capitalization of $26.21 billion, a PE ratio of -370.60 and a beta of 1.48. MongoDB, Inc. has a 12 month low of $182.43 and a 12 month high of $444.72. The business’s 50-day moving average price is $269.54 and its 200-day moving average price is $334.71.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. The company had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.MongoDB’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the prior year, the business posted $1.28 EPS. As a group, analysts predict that MongoDB, Inc. will post -0.46 earnings per share for the current fiscal year.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.