The Manufacturers Life Insurance Company Sells 13,174 Shares of MongoDB, Inc. (NASDAQ:MDB)

The Manufacturers Life Insurance Company decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 46.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,927 shares of the company's stock after selling 13,174 shares during the quarter. The Manufacturers Life Insurance Company's holdings in MongoDB were worth $3,476,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of MDB. Norges Bank purchased a new stake in MongoDB during the fourth quarter worth about $189,584,000. Marshall Wace LLP purchased a new stake in MongoDB during the fourth quarter worth about $110,356,000. Raymond James Financial Inc. purchased a new stake in MongoDB during the fourth quarter worth about $90,478,000. D1 Capital Partners L.P. purchased a new stake in MongoDB during the fourth quarter worth about $76,129,000. Finally, Amundi increased its stake in shares of MongoDB by 86.2% during the fourth quarter. Amundi now owns 693,740 shares of the company's stock worth $172,519,000 after buying an additional 321,186 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now owns 14,598 shares of the company's stock, valued at $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company's stock, valued at $58,121,799.12. This trade represents a 3.69% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,423 shares of company stock valued at $7,148,369 over the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $13.07 on Monday, hitting $191.61. The company's stock had a trading volume of 2,658,701 shares, compared to its average volume of 1,868,760. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $379.06. The company has a market capitalization of $15.56 billion, a price-to-earnings ratio of -69.93 and a beta of 1.49. The stock's 50-day moving average is $176.07 and its two-hundred day moving average is $241.58.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly 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 business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same period in the previous year, the company posted $0.86 EPS. Equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MDB shares. Piper Sandler cut their target price on shares of MongoDB from $280.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Citigroup lowered their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. UBS Group set a $350.00 price target on MongoDB in a report on Tuesday, March 4th. Barclays lowered their price target on MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a report on Thursday, March 6th. Finally, Morgan Stanley lowered their price target on MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $294.78.

MongoDB Company 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.