MongoDB, Inc. (NASDAQ:MDB) Position Reduced by Wells Fargo & Company MN

Wells Fargo & Company MN decreased its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 99.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 116,104 shares of the company's stock after selling 11,549,388 shares during the quarter. Wells Fargo & Company MN owned about 0.16% of MongoDB worth $27,030,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hilltop National Bank increased its stake 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 during the last quarter. NCP Inc. acquired a new stake in shares of MongoDB in the fourth quarter worth approximately $35,000. Continuum Advisory LLC grew its holdings in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after purchasing an additional 118 shares during the period. Versant Capital Management Inc increased its position in MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $42,000 after purchasing an additional 165 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of MongoDB in the 3rd quarter valued at $44,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

Shares of NASDAQ MDB traded down $2.16 during mid-day trading on Thursday, hitting $157.89. The company had a trading volume of 426,944 shares, compared to its average volume of 1,802,409. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $387.19. The stock has a market cap of $12.82 billion, a price-to-earnings ratio of -57.68 and a beta of 1.49. The firm's 50 day simple moving average is $213.23 and its two-hundred day simple moving average is $253.88.

MongoDB (NASDAQ:MDB - Get Free Report) last announced 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). The firm had revenue of $548.40 million for 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 period last year, the firm posted $0.86 EPS. Equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDB has been the topic of several research reports. Daiwa Capital Markets assumed coverage on MongoDB in a research report on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 target price on the stock. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Monness Crespi & Hardt raised shares of MongoDB from a "sell" rating to a "neutral" rating in a research report on Monday, March 3rd. Morgan Stanley reduced their price target on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday. Finally, Loop Capital cut their target price on shares of MongoDB from $400.00 to $350.00 and set a "buy" rating on the stock in a research note on Monday, March 3rd. Eight investment 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. According to MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and a consensus price target of $299.78.

Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the business's stock in a transaction that occurred on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the sale, the chief executive officer now owns 217,294 shares of the company's stock, valued at $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at $2,529,103.50. This represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 57,015 shares of company stock valued at $13,208,285 in the last quarter. Corporate insiders own 3.60% of the company's stock.

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.