Vanguard Group Inc. Sells 343,031 Shares of MongoDB, Inc. $MDB

Key Points

• Vanguard sold 343,031 shares, trimming its MongoDB stake by 3.8% to 8,642,666 shares (a 10.62% ownership worth about $3.63 billion) in the most recent quarter.
• MongoDB beat quarterly estimates, reporting $1.65 EPS (vs. $1.47 expected) and $695.1M revenue, up 26.8% year-over-year.
• Several brokers have recently lowered price targets (examples: Piper Sandler to $330, BMO to $340), leaving an average analyst target of $361.97 and an overall MarketBeat consensus of "Moderate Buy" while the stock trades near $258.20.

Vanguard Group Inc. lowered its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 3.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 8,642,666 shares of the company's stock after selling 343,031 shares during the period. Vanguard Group Inc. owned 10.62% of MongoDB worth $3,627,240,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Central Pacific Bank Trust Division acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $28,000. Huntington National Bank increased its holdings in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company's stock valued at $30,000 after purchasing an additional 51 shares in the last quarter. TD Private Client Wealth LLC increased its holdings in shares of MongoDB by 2,825.0% in the third quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock valued at $36,000 after purchasing an additional 113 shares in the last quarter. Hollencrest Capital Management acquired a new stake in shares of MongoDB in the third quarter valued at approximately $37,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $38,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on MDB. Piper Sandler lowered their price target on shares of MongoDB from $490.00 to $330.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $340.00 target price (down from $400.00) on shares of MongoDB in a report on Tuesday, March 3rd. DA Davidson dropped their target price on shares of MongoDB from $465.00 to $385.00 and set a "buy" rating for the company in a research report on Wednesday, February 25th. Zacks Research cut shares of MongoDB from a "hold" rating to a "strong sell" rating in a research report on Tuesday, March 31st. Finally, Oppenheimer dropped their target price on shares of MongoDB from $425.00 to $375.00 and set an "outperform" rating for the company in a research report on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $361.97.

MongoDB Stock Down 2.3%

Shares of MDB stock opened at $258.20 on Wednesday. MongoDB, Inc. has a 12-month low of $167.19 and a 12-month high of $444.72. The firm has a market capitalization of $20.75 billion, a price-to-earnings ratio of -293.41 and a beta of 1.60. The firm has a fifty day moving average of $269.06 and a 200-day moving average of $338.63.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $669.40 million. During the same quarter in the previous year, the business earned $1.28 EPS. The firm's revenue was up 26.8% on a year-over-year basis. Research analysts expect that MongoDB, Inc. will post -0.46 earnings per share for the current year.

Insider Buying and Selling at MongoDB

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

MongoDB 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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