MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Comerica Bank

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

A number of other large investors also recently modified their holdings of the business. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of MongoDB in the fourth quarter valued at approximately $606,000. Union Bancaire Privee UBP SA acquired a new stake in MongoDB during the 4th quarter valued at $3,515,000. HighTower Advisors LLC grew its position in MongoDB by 2.0% during the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock valued at $4,371,000 after purchasing an additional 372 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock worth $1,340,000 after purchasing an additional 4,665 shares in the last quarter. Finally, Covea Finance bought a new stake in MongoDB during the 4th quarter valued at approximately $3,841,000. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the sale, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02% 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 hyperlink. Also, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The stock was 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 in the company, valued at $46,597,930.48. This represents a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,423 shares of company stock worth $7,148,369 in the last three months. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Daiwa America upgraded shares of MongoDB to a "strong-buy" rating in a research note on Tuesday, April 1st. Monness Crespi & Hardt upgraded shares of MongoDB from a "sell" rating to a "neutral" rating in a research report on Monday, March 3rd. Macquarie cut their target price on shares of MongoDB from $300.00 to $215.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Mizuho dropped their target price on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Finally, Citigroup lowered their price objective on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $294.78.

MongoDB Stock Up 4.9%

NASDAQ:MDB traded up $8.80 during trading hours on Monday, hitting $187.34. 704,682 shares of the stock traded hands, compared to its average volume of 1,861,305. The stock has a 50 day moving average price of $176.07 and a 200 day moving average price of $241.58. The company has a market cap of $15.21 billion, a price-to-earnings ratio of -68.32 and a beta of 1.49. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $379.06.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $548.40 million for the quarter, compared to analysts' expectations of $519.65 million. During the same quarter in the prior year, the business earned $0.86 EPS. 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.