Allspring Global Investments Holdings LLC Trims Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Allspring Global Investments Holdings LLC reduced its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 98.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Diversified Trust Co raised its holdings in MongoDB by 117.8% during the first quarter. Diversified Trust Co now owns 15,071 shares of the company's stock worth $2,643,000 after buying an additional 8,152 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of MongoDB by 13.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 19,449 shares of the company's stock worth $3,411,000 after acquiring an additional 2,270 shares in the last quarter. WoodTrust Financial Corp raised its holdings in shares of MongoDB by 21.2% in the 1st quarter. WoodTrust Financial Corp now owns 5,150 shares of the company's stock worth $903,000 after acquiring an additional 900 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in MongoDB by 41.9% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 7,058 shares of the company's stock valued at $1,238,000 after acquiring an additional 2,085 shares in the last quarter. Finally, TrueMark Investments LLC boosted its stake in MongoDB by 14.0% during the 1st quarter. TrueMark Investments LLC now owns 6,419 shares of the company's stock valued at $1,126,000 after purchasing an additional 790 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Price Performance

Shares of MDB traded down $7.85 during midday trading on Thursday, hitting $209.27. 2,928,201 shares of the company traded hands, compared to its average volume of 1,973,242. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The firm has a market cap of $17.10 billion, a P/E ratio of -183.57 and a beta of 1.41. The stock has a 50-day moving average of $197.71 and a 200-day moving average of $214.60.

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

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $468,000.00. Following the completion of the sale, the director owned 1,107,006 shares of the company's stock, valued at $259,039,404. The trade was a 0.18% 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, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the transaction, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 32,746 shares of company stock valued at $7,500,196 over the last 90 days. 3.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on MDB shares. Needham & Company LLC reissued a "buy" rating and issued a $270.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. William Blair reissued an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. Daiwa America raised shares of MongoDB to a "strong-buy" rating in a report on Tuesday, April 1st. Wedbush reiterated an "outperform" rating and issued a $300.00 target price on shares of MongoDB in a report on Thursday, June 5th. Finally, UBS Group boosted their price target on shares of MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $282.39.

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.