Fred Alger Management LLC Has $1.17 Million Stake in MongoDB, Inc. (NASDAQ:MDB)

Fred Alger Management LLC trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 66.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,026 shares of the company's stock after selling 10,150 shares during the period. Fred Alger Management LLC's holdings in MongoDB were worth $1,170,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of MongoDB during the 4th quarter valued at approximately $606,000. Union Bancaire Privee UBP SA acquired a new stake in shares of MongoDB during the 4th quarter valued at approximately $3,515,000. HighTower Advisors LLC raised its position in shares of MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock valued at $4,371,000 after acquiring an additional 372 shares in the last quarter. Nisa Investment Advisors LLC increased its position in MongoDB by 428.0% in the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock worth $1,340,000 after buying an additional 4,665 shares during the period. Finally, Covea Finance acquired a new stake in MongoDB in the fourth quarter worth $3,841,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on MDB shares. Oppenheimer dropped their target price on MongoDB from $400.00 to $330.00 and set an "outperform" rating on the stock in a research report on Thursday, March 6th. Cantor Fitzgerald started coverage on MongoDB in a research report on Wednesday, March 5th. They issued an "overweight" rating and a $344.00 target price on the stock. Citigroup dropped their target price on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Morgan Stanley decreased their price target on MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Finally, Bank of America decreased their price target on MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $293.91.

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now owns 268,948 shares in the company, valued at approximately $46,597,930.48. This trade represents a 6.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 885 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the transaction, the director now owns 83,845 shares in the company, valued at approximately $24,486,932.25. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,423 shares of company stock worth $7,148,369 over the last 90 days. Company insiders own 3.60% of the company's stock.

MongoDB Stock Up 0.7%

NASDAQ MDB traded up $1.35 on Friday, reaching $191.85. The company had a trading volume of 703,437 shares, compared to its average volume of 1,876,735. The stock's 50 day moving average is $175.00 and its 200-day moving average is $239.84. The stock has a market cap of $15.58 billion, a price-to-earnings ratio of -69.89 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $379.06.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the previous year, the company posted $0.86 EPS. As a group, analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

MongoDB Profile

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.