MongoDB, Inc. $MDB Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC trimmed its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 32.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 322,418 shares of the company’s stock after selling 151,601 shares during the quarter. Voya Investment Management LLC owned 0.39% of MongoDB worth $56,552,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Cloud Capital Management LLC acquired a new stake in shares of MongoDB during the 1st quarter worth about $25,000. Hollencrest Capital Management purchased a new position in MongoDB during the 1st quarter valued at about $26,000. Cullen Frost Bankers Inc. boosted its holdings in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 120 shares during the period. State of Wyoming purchased a new position in MongoDB during the 1st quarter valued at about $62,000. Finally, Brooklyn Investment Group boosted its holdings in MongoDB by 247.9% during the 1st quarter. Brooklyn Investment Group now owns 407 shares of the company’s stock valued at $71,000 after acquiring an additional 290 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Cantor Fitzgerald raised their target price on MongoDB from $271.00 to $312.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. William Blair restated an “outperform” rating on shares of MongoDB in a report on Thursday, June 26th. Citigroup raised their target price on MongoDB from $405.00 to $425.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Needham & Company LLC raised their target price on MongoDB from $270.00 to $325.00 and gave the company a “buy” rating in a report on Wednesday, August 27th. Finally, Piper Sandler raised their target price on MongoDB from $275.00 to $345.00 and gave the company an “overweight” rating in a report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $310.86.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the completion of the sale, the director owned 1,104,316 shares in the company, valued at $270,557,420. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 33,320 shares of MongoDB stock in a transaction that occurred on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the transaction, the chief executive officer directly owned 203,237 shares in the company, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,730 shares of company stock worth $16,292,409 in the last three months. 3.10% of the stock is owned by company insiders.

MongoDB Stock Down 0.6%

MDB stock opened at $330.10 on Friday. The business has a 50 day moving average price of $246.21 and a 200 day moving average price of $209.62. The stock has a market cap of $26.86 billion, a price-to-earnings ratio of -336.84 and a beta of 1.49. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00.

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.