MongoDB, Inc. $MDB Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 37.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 565,569 shares of the company’s stock after selling 339,074 shares during the period. Wellington Management Group LLP owned 0.70% of MongoDB worth $189,975,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. ValueAct Holdings L.P. raised its holdings in MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after acquiring an additional 1,427,700 shares during the last quarter. State Street Corp boosted its holdings in shares of MongoDB by 2.3% during the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock worth $754,119,000 after purchasing an additional 40,219 shares during the last quarter. Amundi boosted its holdings in shares of MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares during the last quarter. Geode Capital Management LLC grew its position in shares of MongoDB by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock valued at $604,429,000 after purchasing an additional 9,693 shares during the period. Finally, Norges Bank purchased a new stake in shares of MongoDB in the fourth quarter valued at $574,821,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction that occurred on Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total value of $538,782.30. Following the transaction, the director owned 25,444 shares in the company, valued at approximately $8,754,008.20. This trade represents a 5.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the transaction, the director directly owned 161,762 shares in the company, valued at approximately $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 80,696 shares of company stock valued at $31,425,055. 2.60% of the stock is currently owned by company insiders.

MongoDB Trading Up 1.5%

MDB stock opened at $453.37 on Tuesday. The company has a market cap of $36.46 billion, a PE ratio of -1,225.32, a price-to-earnings-growth ratio of 3,172.71 and a beta of 1.55. The stock has a 50-day moving average price of $367.65 and a two-hundred day moving average price of $321.78. MongoDB, Inc. has a 12-month low of $215.68 and a 12-month high of $473.10.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Cantor Fitzgerald increased their target price on MongoDB from $416.00 to $540.00 and gave the stock an “overweight” rating in a research report on Monday. Zacks Research raised shares of MongoDB from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. Wall Street Zen downgraded shares of MongoDB from a “buy” rating to a “hold” rating in a research note on Sunday, July 26th. KGI Securities assumed coverage on shares of MongoDB in a report on Wednesday, July 8th. They set an “outperform” rating and a $470.00 price objective on the stock. Finally, Needham & Company LLC raised their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $458.65.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.