MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Bank of Montreal Can

Bank of Montreal Can lowered its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 99.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 89,055 shares of the company's stock after selling 34,204,855 shares during the quarter. Bank of Montreal Can owned approximately 0.12% of MongoDB worth $20,733,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in MDB. Cerity Partners LLC increased its stake in shares of MongoDB by 6.4% in the fourth quarter. Cerity Partners LLC now owns 9,674 shares of the company's stock valued at $2,388,000 after buying an additional 580 shares during the period. Polymer Capital Management HK LTD bought a new position in MongoDB during the 4th quarter worth $917,000. Aster Capital Management DIFC Ltd acquired a new stake in shares of MongoDB in the fourth quarter valued at about $97,000. Ilmarinen Mutual Pension Insurance Co increased its position in MongoDB by 75.0% during the 4th quarter. Ilmarinen Mutual Pension Insurance Co now owns 35,000 shares of the company's stock valued at $8,148,000 after purchasing an additional 15,000 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in MongoDB by 7.5% during the fourth quarter. Russell Investments Group Ltd. now owns 52,804 shares of the company's stock valued at $12,303,000 after acquiring an additional 3,688 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 301 shares of the company's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the company's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction 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 position. The disclosure for this sale can be found here. Insiders have sold 57,015 shares of company stock valued at $13,208,285 over the last ninety days. 3.60% of the stock is owned by insiders.

MongoDB Stock Down 0.8 %

NASDAQ:MDB traded down $1.22 during mid-day trading on Thursday, hitting $158.82. 506,304 shares of the company traded hands, compared to its average volume of 1,802,784. The stock's fifty day moving average price is $213.23 and its 200-day moving average price is $253.88. The firm has a market cap of $12.89 billion, a price-to-earnings ratio of -57.99 and a beta of 1.49. MongoDB, Inc. has a one year low of $140.78 and a one year high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate 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 previous year, the company posted $0.86 earnings per share. Equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MDB. Scotiabank reaffirmed a "sector perform" rating and set a $240.00 target price (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Tigress Financial lifted their target price on MongoDB from $400.00 to $430.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Cantor Fitzgerald assumed coverage on MongoDB in a research note on Wednesday, March 5th. They set an "overweight" rating and a $344.00 price objective on the stock. China Renaissance assumed coverage on shares of MongoDB in a research report on Tuesday, January 21st. They issued a "buy" rating and a $351.00 price objective for the company. Finally, Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 target price on the stock in a research report on Monday, January 6th. Eight 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 company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $299.78.

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.