Price T Rowe Associates Inc. MD Sells 2,421,853 Shares of MongoDB, Inc. (NASDAQ:MDB)

Price T Rowe Associates Inc. MD lowered its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 73.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 863,183 shares of the company's stock after selling 2,421,853 shares during the quarter. Price T Rowe Associates Inc. MD owned 1.16% of MongoDB worth $200,959,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MDB. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB during the 4th quarter worth approximately $29,000. Hilltop National Bank grew its position in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. NCP Inc. acquired a new stake in MongoDB in the 4th quarter valued at $35,000. Wilmington Savings Fund Society FSB bought a new stake in MongoDB during 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 worth $42,000 after buying an additional 165 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

MongoDB Stock Performance

Shares of MDB traded down $2.52 during mid-day trading on Wednesday, reaching $172.17. The company had a trading volume of 1,439,807 shares, compared to its average volume of 1,841,131. The company has a market capitalization of $13.98 billion, a price-to-earnings ratio of -62.84 and a beta of 1.49. The company's 50 day simple moving average is $190.43 and its 200 day simple moving average is $247.31. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analyst estimates 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 quarter in the prior year, the business earned $0.86 EPS. As a group, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 885 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the transaction, the director now directly owns 83,845 shares in the company, valued at approximately $24,486,932.25. This represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This trade represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 39,345 shares of company stock worth $8,485,310. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on MDB shares. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price on the stock in a report on Thursday, April 17th. Piper Sandler dropped their price objective on MongoDB from $280.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. Barclays decreased their target price on shares of MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. Wells Fargo & Company downgraded shares of MongoDB from an "overweight" rating to an "equal weight" rating and lowered their target price for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. Finally, Citigroup cut their price target on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Eight 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $294.78.

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.