Whittier Trust Co. Sells 28,413 Shares of MongoDB, Inc. (NASDAQ:MDB)

Whittier Trust Co. lowered its stake in MongoDB, Inc. (NASDAQ:MDB) by 91.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,520 shares of the company’s stock after selling 28,413 shares during the quarter. Whittier Trust Co.’s holdings in MongoDB were worth $587,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Hilltop National Bank grew 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 in the last quarter. Avestar Capital LLC grew its stake in shares of MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after buying an additional 42 shares in the last quarter. Aigen Investment Management LP increased its holdings in MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock worth $913,000 after buying an additional 55 shares during the last quarter. Perigon Wealth Management LLC raised its position in MongoDB by 2.7% during the fourth quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock worth $627,000 after acquiring an additional 66 shares in the last quarter. Finally, MetLife Investment Management LLC lifted its stake in MongoDB by 1.6% in the third quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock valued at $1,203,000 after acquiring an additional 72 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on MDB shares. Citigroup restated a “buy” rating on shares of MongoDB in a research note on Thursday, March 6th. Piper Sandler dropped their price objective on MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley reduced their target price on MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. China Renaissance started coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target on the stock. Finally, Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective for the company in a research report on Monday, January 6th. Seven research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $320.70.

Insider Buying and Selling at MongoDB

In other news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company’s stock, valued at approximately $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now directly 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. In the last quarter, insiders have sold 43,139 shares of company stock valued at $11,328,869. 3.60% of the stock is currently owned by corporate insiders.

MongoDB Stock Up 1.7 %

MDB stock opened at $192.54 on Friday. MongoDB, Inc. has a 52 week low of $173.13 and a 52 week high of $387.19. The business has a 50-day simple moving average of $250.97 and a 200 day simple moving average of $269.55. The company has a market cap of $14.34 billion, a PE ratio of -70.27 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 EPS 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 in the previous year, the firm posted $0.86 earnings per share. On average, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

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.