Bank of New York Mellon Corp Sells 240,312 Shares of MongoDB, Inc. (NASDAQ:MDB)

Bank of New York Mellon Corp reduced its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 26.0% during the fourth quarter, HoldingsChannel reports. The firm owned 684,109 shares of the company’s stock after selling 240,312 shares during the period. Bank of New York Mellon Corp’s holdings in MongoDB were worth $159,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC increased its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares during the last quarter. Geode Capital Management LLC increased its position in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after acquiring an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP increased its position in MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares during the last quarter. Holocene Advisors LP increased its position in MongoDB by 22.6% during the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after acquiring an additional 66,730 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position 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 valued at $69,119,000 after acquiring an additional 294,228 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Trading Up 1.9 %

Shares of MongoDB stock opened at $267.43 on Friday. The stock has a 50 day moving average of $262.30 and a 200 day moving average of $274.58. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $449.12. The firm has a market cap of $19.92 billion, a PE ratio of -97.60 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the company earned $0.96 earnings per share. The firm’s revenue was up 22.3% on a year-over-year basis. As a group, equities research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the sale, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,314 shares of company stock valued at $13,494,863 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

MDB has been the subject of a number of research reports. Barclays reduced their price objective on MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. Piper Sandler restated an “overweight” rating and issued a $425.00 price target on shares of MongoDB in a research report on Tuesday, December 10th. Oppenheimer upped their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Finally, Stifel Nicolaus upped their price target on MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Company 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.