Comerica Bank Sells 59,830 Shares of MongoDB, Inc. (NASDAQ:MDB)

Comerica Bank cut its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 78.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,255 shares of the company's stock after selling 59,830 shares during the quarter. Comerica Bank's holdings in MongoDB were worth $3,784,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of MDB. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB during the fourth quarter valued at approximately $29,000. Hilltop National Bank increased its position in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares during the period. NCP Inc. bought a new position in MongoDB in the 4th quarter worth $35,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of MongoDB in the 3rd quarter worth about $44,000. Finally, Versant Capital Management Inc boosted its stake in shares of MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after purchasing an additional 165 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Insider Transactions at MongoDB

In other MongoDB news, CFO Srdjan Tanjga sold 525 shares of the business's 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 $90,961.50. Following the sale, the chief financial officer now directly owns 6,406 shares of the company's stock, valued at $1,109,903.56. The trade was a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Dev Ittycheria sold 18,512 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the sale, the chief executive officer now directly owns 268,948 shares of the company's stock, valued at $46,597,930.48. The trade was a 6.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 35,423 shares of company stock worth $7,429,989 in the last three months. Insiders own 3.60% of the company's stock.

MongoDB Price Performance

Shares of NASDAQ MDB traded down $0.72 during mid-day trading on Friday, reaching $178.54. The company's stock had a trading volume of 1,598,686 shares, compared to its average volume of 1,860,175. The stock has a fifty day moving average of $177.59 and a two-hundred day moving average of $242.46. The firm has a market capitalization of $14.50 billion, a PE ratio of -65.16 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 announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the company posted $0.86 earnings per share. Analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have commented on MDB shares. China Renaissance initiated coverage on shares of MongoDB in a report on Tuesday, January 21st. They issued a "buy" rating and a $351.00 price objective for the company. Loop Capital dropped their price target on MongoDB from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Robert W. Baird lowered their price objective on MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company downgraded shares of MongoDB from an "overweight" rating to an "equal weight" rating and reduced their target price for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Finally, Royal Bank of Canada lowered their price target on shares of MongoDB from $400.00 to $320.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MongoDB has an average rating of "Moderate Buy" and a consensus target price of $294.78.

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.