MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by T. Rowe Price Investment Management Inc.

T. Rowe Price Investment Management Inc. raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 508,886 shares of the company's stock after buying an additional 2,350 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 0.68% of MongoDB worth $118,474,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of MDB. B.O.S.S. Retirement Advisors LLC purchased a new position in MongoDB during the 4th quarter valued at approximately $606,000. Union Bancaire Privee UBP SA purchased a new position in shares of MongoDB in the fourth quarter valued at $3,515,000. HighTower Advisors LLC raised its stake 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 lifted its position in MongoDB by 428.0% during the fourth quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock valued at $1,340,000 after purchasing an additional 4,665 shares during the last quarter. Finally, Covea Finance purchased a new position in shares of MongoDB in the 4th quarter worth $3,841,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Trading Down 2.1 %

NASDAQ:MDB traded down $3.59 during trading hours on Wednesday, reaching $171.10. 345,419 shares of the company were exchanged, compared to its average volume of 1,836,837. The firm has a market cap of $13.89 billion, a PE ratio of -62.45 and a beta of 1.49. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $387.19. The stock's 50-day moving average is $190.43 and its 200-day moving average is $247.31.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly 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). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million during the quarter, compared to analysts' expectations of $519.65 million. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Analysts Set New Price Targets

MDB has been the subject of several recent research reports. Barclays dropped their price target on MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Truist Financial dropped their target price on MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Scotiabank reiterated a "sector perform" rating and issued a $160.00 price target (down from $240.00) on shares of MongoDB in a report on Friday. Rosenblatt Securities reaffirmed a "buy" rating and issued a $350.00 price objective on shares of MongoDB in a research report on Tuesday, March 4th. Finally, Wells Fargo & Company lowered shares of MongoDB from an "overweight" rating to an "equal weight" rating and lowered their target price for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. Eight research 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's stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and an average target price of $294.78.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Cedric Pech sold 1,690 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. This represents a 2.85 % 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. 3.60% of the stock is owned by insiders.

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.