Bank of New York Mellon Corp Sells 18,731 Shares of MongoDB, Inc. (NASDAQ:MDB)

Bank of New York Mellon Corp cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 665,378 shares of the company's stock after selling 18,731 shares during the quarter. Bank of New York Mellon Corp owned 0.82% of MongoDB worth $116,707,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of MongoDB by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the last quarter. Franklin Resources Inc. boosted its stake in MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares in the last quarter. Geode Capital Management LLC grew its position in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after acquiring an additional 22,106 shares during the last quarter. First Trust Advisors LP raised its stake in shares of MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock worth $199,031,000 after acquiring an additional 95,893 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of MongoDB during the fourth quarter worth approximately $189,584,000. 89.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Dev Ittycheria sold 3,747 shares of the business's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the transaction, the chief executive officer directly owned 253,227 shares of the company's stock, valued at approximately $52,177,423.35. The trade was a 1.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,746 shares of company stock worth $7,500,196 in the last three months. Company insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MDB shares. Cantor Fitzgerald increased their target price on MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Piper Sandler increased their price objective on MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Guggenheim lifted their target price on shares of MongoDB from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Morgan Stanley lowered their price target on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Finally, Redburn Atlantic raised shares of MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target on the stock in a report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and an average target price of $282.39.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $217.12 on Thursday. The stock's 50-day simple moving average is $197.71 and its two-hundred day simple moving average is $214.60. The stock has a market capitalization of $17.74 billion, a price-to-earnings ratio of -190.46 and a beta of 1.41. 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 quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The firm had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the previous year, the firm posted $0.51 EPS. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal 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.

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.