Voya Investment Management LLC Cuts Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Voya Investment Management LLC lessened its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 96.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 474,019 shares of the company's stock after selling 12,794,369 shares during the period. Voya Investment Management LLC owned about 0.64% of MongoDB worth $110,356,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MDB. Strategic Investment Solutions Inc. IL acquired a new stake in MongoDB during the 4th quarter worth about $29,000. Hilltop National Bank grew its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after purchasing an additional 42 shares during the period. NCP Inc. bought a new stake in MongoDB in the fourth quarter worth approximately $35,000. Versant Capital Management Inc lifted its stake in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after buying an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB bought a new position in shares of MongoDB during the 3rd quarter worth approximately $44,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on MDB shares. Piper Sandler lowered their price objective on shares of MongoDB from $280.00 to $200.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Rosenblatt Securities reaffirmed a "buy" rating and issued a $350.00 price target on shares of MongoDB in a research note on Tuesday, March 4th. Wells Fargo & Company cut shares of MongoDB from an "overweight" rating to an "equal weight" rating and cut their price objective for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Needham & Company LLC decreased their target price on MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Finally, Citigroup dropped their price target on 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 assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $294.78.

MongoDB Stock Down 2.5 %

MongoDB stock traded down $4.39 during trading on Wednesday, hitting $170.30. The stock had a trading volume of 376,935 shares, compared to its average volume of 1,836,975. The stock's 50 day moving average is $190.43 and its two-hundred day moving average is $247.31. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $387.19. The stock has a market cap of $13.83 billion, a price-to-earnings ratio of -62.15 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last issued 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). 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 period in the prior year, the company earned $0.86 EPS. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company's stock, valued at $9,985,666.84. The trade was a 2.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas Bull sold 301 shares of the 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 sale, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,345 shares of company stock valued at $8,485,310. Company insiders own 3.60% of the company's stock.

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.