MongoDB, Inc. (NASDAQ:MDB) Position Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 2.7% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 665,378 shares of the company's stock after selling 18,731 shares during the quarter. Bank of New York Mellon Corp owned about 0.82% of MongoDB worth $116,707,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MDB. Jones Financial Companies Lllp grew its position in MongoDB by 68.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company's stock worth $237,000 after buying an additional 413 shares during the period. Steward Partners Investment Advisory LLC boosted its stake in shares of MongoDB by 12.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the company's stock worth $272,000 after acquiring an additional 133 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of MongoDB by 6.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 295,213 shares of the company's stock worth $68,729,000 after acquiring an additional 16,794 shares during the period. Victory Capital Management Inc. grew its holdings in shares of MongoDB by 0.7% in the 4th quarter. Victory Capital Management Inc. now owns 57,504 shares of the company's stock worth $13,388,000 after acquiring an additional 377 shares during the period. Finally, Proficio Capital Partners LLC purchased a new position in MongoDB in the 4th quarter valued at approximately $10,135,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 820 shares of the stock in a transaction dated Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the transaction, the director owned 1,106,186 shares of the company's stock, valued at approximately $233,228,256.24. This represents a 0.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Dev Ittycheria sold 3,747 shares of MongoDB stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the completion of the transaction, the chief executive officer owned 253,227 shares of the company's stock, valued at $52,177,423.35. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 32,746 shares of company stock valued at $7,500,196 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

MDB has been the topic of several research reports. Piper Sandler upped their target price on MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Citigroup dropped their target price on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Wedbush reaffirmed an "outperform" rating and issued a $300.00 price target on shares of MongoDB in a report on Thursday, June 5th. JMP Securities reiterated a "market outperform" rating and issued a $345.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Finally, Macquarie restated a "neutral" rating and set a $230.00 price objective (up from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $282.39.

MongoDB Price Performance

MDB stock traded down $7.85 during trading on Thursday, reaching $209.27. 2,928,201 shares of the stock traded hands, compared to its average volume of 1,973,242. The firm has a market capitalization of $17.10 billion, a PE ratio of -183.57 and a beta of 1.41. The business's 50 day moving average price is $198.45 and its 200-day moving average price is $214.37. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.51 EPS. On average, equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.