Comerica Bank Has $6.95 Million Stock Position in MongoDB, Inc. $MDB

Key Points

• Comerica Bank cut its stake in MongoDB by 50.3% in Q4, selling 16,748 shares and now holds 16,561 shares valued at approximately $6.95 million.
• Insider selling has been notable: Director Dwight A. Merriman sold 8,000 shares at an average of $236.89, and insiders sold 14,756 shares (≈$3.73 million) over the last 90 days; insiders own 3.10% while institutions own 89.29% of the stock.
• MongoDB recently beat estimates with $1.65 EPS and $695.1M revenue (up 26.8% YoY) but still reports a negative net margin and ROE; analysts have trimmed price targets though the consensus rating remains a Moderate Buy with a $361.97 target.

Comerica Bank decreased its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 50.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 16,561 shares of the company's stock after selling 16,748 shares during the period. Comerica Bank's holdings in MongoDB were worth $6,951,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ashton Thomas Private Wealth LLC acquired a new position in shares of MongoDB in the 4th quarter valued at $271,000. D.A. Davidson & CO. grew its holdings in shares of MongoDB by 16.9% in the 4th quarter. D.A. Davidson & CO. now owns 1,357 shares of the company's stock valued at $570,000 after buying an additional 196 shares during the period. J. Team Financial Inc. acquired a new position in shares of MongoDB in the 4th quarter valued at $229,000. Sanctuary Advisors LLC grew its holdings in shares of MongoDB by 9.5% in the 4th quarter. Sanctuary Advisors LLC now owns 4,571 shares of the company's stock valued at $1,918,000 after buying an additional 396 shares during the period. Finally, Calamos Advisors LLC grew its holdings in shares of MongoDB by 7.6% in the 4th quarter. Calamos Advisors LLC now owns 49,859 shares of the company's stock valued at $20,925,000 after buying an additional 3,503 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 8,000 shares of the stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $236.89, for a total transaction of $1,895,120.00. Following the completion of the transaction, the director directly owned 1,005,316 shares in the company, valued at $238,149,307.24. This represents a 0.79% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the transaction, the director owned 24,093 shares of the company's stock, valued at approximately $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 14,756 shares of company stock valued at $3,734,893. Company insiders own 3.10% of the company's stock.

MongoDB Trading Down 2.9%

Shares of NASDAQ MDB opened at $250.83 on Friday. The firm has a market cap of $20.16 billion, a PE ratio of -285.03 and a beta of 1.60. MongoDB, Inc. has a 1-year low of $169.26 and a 1-year high of $444.72. The company has a fifty day moving average price of $264.86 and a 200 day moving average price of $337.46.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. During the same period in the prior year, the business posted $1.28 EPS. The company's quarterly revenue was up 26.8% on a year-over-year basis. Equities research analysts forecast that MongoDB, Inc. will post -0.46 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Barclays decreased their price target on shares of MongoDB from $440.00 to $370.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. Stifel Nicolaus reduced their target price on shares of MongoDB from $450.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Piper Sandler reduced their target price on shares of MongoDB from $490.00 to $330.00 and set an "overweight" rating for the company in a research note on Tuesday, March 3rd. Robert W. Baird reaffirmed a "neutral" rating and issued a $260.00 target price (down from $500.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Finally, Truist Financial reduced their target price on shares of MongoDB from $500.00 to $375.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $361.97.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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