MongoDB, Inc. (NASDAQ:MDB) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC trimmed its holdings in MongoDB, Inc. (NASDAQ:MDB) by 9.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,160 shares of the company’s stock after selling 118 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in MongoDB were worth $270,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in MDB. Vanguard Group Inc. increased its holdings in shares of MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after acquiring an additional 23,942 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after acquiring an additional 181,962 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after acquiring an additional 22,106 shares during the last quarter. First Trust Advisors LP increased its holdings in shares of MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after acquiring an additional 95,893 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of MongoDB in the 4th quarter valued at approximately $189,584,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on MDB. UBS Group set a $350.00 price target on MongoDB in a report on Tuesday, March 4th. Loop Capital lowered their price objective on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Daiwa America upgraded MongoDB to a “strong-buy” rating in a research note on Tuesday, April 1st. Finally, The Goldman Sachs Group lowered their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $293.91.

Insider Activity

In other news, CEO Dev Ittycheria sold 8,335 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the completion of the sale, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at $58,121,799.12. This represents a 3.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 885 shares of the company’s stock in a transaction 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 sale, the director now directly owns 83,845 shares of the company’s stock, valued at approximately $24,486,932.25. This represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 34,423 shares of company stock valued at $7,148,369 over the last three months. Insiders own 3.60% of the company’s stock.

MongoDB Stock Up 0.4%

Shares of MongoDB stock opened at $191.29 on Friday. The firm has a market cap of $15.53 billion, a price-to-earnings ratio of -69.81 and a beta of 1.49. The business has a fifty day simple moving average of $175.00 and a 200-day simple moving average of $239.84. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $379.06.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm 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 last year, the company earned $0.86 EPS. Analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.