Jennison Associates LLC Sells 3,083,434 Shares of MongoDB, Inc. (NASDAQ:MDB)

Jennison Associates LLC lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 99.4% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 18,590 shares of the company’s stock after selling 3,083,434 shares during the period. Jennison Associates LLC’s holdings in MongoDB were worth $4,328,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. GAMMA Investing LLC lifted its position in shares of MongoDB by 178.8% in the third quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after acquiring an additional 93 shares in the last quarter. Fulton Bank N.A. lifted its position in shares of MongoDB by 5.6% in the third quarter. Fulton Bank N.A. now owns 1,199 shares of the company’s stock valued at $324,000 after acquiring an additional 64 shares in the last quarter. CWM LLC lifted its position in shares of MongoDB by 5.0% in the third quarter. CWM LLC now owns 3,269 shares of the company’s stock valued at $884,000 after acquiring an additional 156 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its position in shares of MongoDB by 253.2% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 558 shares of the company’s stock valued at $151,000 after acquiring an additional 400 shares in the last quarter. Finally, CHICAGO TRUST Co NA purchased a new stake in shares of MongoDB in the third quarter worth about $255,000. Institutional investors own 89.29% of the company’s stock.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares in the company, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,491 shares of company stock worth $11,543,480. Insiders own 3.60% of the company’s stock.

MongoDB Trading Down 1.4 %

NASDAQ:MDB opened at $278.10 on Friday. The firm has a market cap of $20.71 billion, a P/E ratio of -101.50 and a beta of 1.28. The stock has a 50 day moving average of $268.90 and a two-hundred day moving average of $270.32. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same period in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was up 22.3% compared to the same quarter last year. On average, research 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 a number of research analyst reports. Wells Fargo & Company boosted their target price on MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Scotiabank decreased their target price on MongoDB from $350.00 to $275.00 and set a “sector perform” rating on the stock in a research report on Tuesday, January 21st. JMP Securities restated a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a research report on Wednesday, December 11th. Finally, DA Davidson upped their price objective on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $361.00.

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.