Allspring Global Investments Holdings LLC Sells 187,919 Shares of MongoDB, Inc. (NASDAQ:MDB)

Allspring Global Investments Holdings LLC decreased its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 98.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,196 shares of the company's stock after selling 187,919 shares during the period. Allspring Global Investments Holdings LLC's holdings in MongoDB were worth $564,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Investment Solutions Inc. IL bought a new position in MongoDB in the fourth quarter worth $29,000. Coppell Advisory Solutions LLC lifted its position in MongoDB by 364.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after purchasing an additional 182 shares during the period. Aster Capital Management DIFC Ltd bought a new position in MongoDB in the fourth quarter worth $97,000. Fifth Third Bancorp lifted its position in MongoDB by 15.9% in the first quarter. Fifth Third Bancorp now owns 569 shares of the company's stock worth $100,000 after purchasing an additional 78 shares during the period. Finally, Versant Capital Management Inc lifted its position in MongoDB by 237.2% in the first quarter. Versant Capital Management Inc now owns 607 shares of the company's stock worth $106,000 after purchasing an additional 427 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MDB shares. Daiwa Capital Markets began coverage on MongoDB in a research report on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 target price for the company. Rosenblatt Securities reduced their target price on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, June 5th. Loop Capital downgraded shares of MongoDB from a "buy" rating to a "hold" rating and reduced their target price for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Wolfe Research began coverage on shares of MongoDB in a research note on Wednesday. They issued an "outperform" rating and a $280.00 target price on the stock. Finally, Piper Sandler boosted their target price on shares of MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $282.39.

MongoDB Stock Down 1.0%

Shares of MDB traded down $2.15 on Friday, hitting $207.12. The company's stock had a trading volume of 756,349 shares, compared to its average volume of 2,309,352. The firm's fifty day moving average price is $198.45 and its 200-day moving average price is $214.37. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The firm has a market capitalization of $16.92 billion, a price-to-earnings ratio of -181.69 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.51 EPS. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director owned 21,096 shares in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 820 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the sale, the director owned 1,106,186 shares in the company, valued at $233,228,256.24. The trade was a 0.07% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,746 shares of company stock worth $7,500,196. Corporate insiders own 3.10% of the company's stock.

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.