Wellington Management Group LLP Cuts Stake in MongoDB, Inc. (NASDAQ:MDB)

Wellington Management Group LLP lessened its position in MongoDB, Inc. (NASDAQ:MDB) by 84.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,563,699 shares of the company’s stock after selling 8,550,726 shares during the period. Wellington Management Group LLP’s holdings in MongoDB were worth $364,045,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Hilltop National Bank raised its position in MongoDB by 47.2% in the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the last quarter. Avestar Capital LLC raised its holdings in shares of MongoDB by 2.0% during the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after purchasing an additional 42 shares during the last quarter. Aigen Investment Management LP raised its holdings in shares of MongoDB by 1.4% during the fourth quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock valued at $913,000 after purchasing an additional 55 shares during the last quarter. Perigon Wealth Management LLC boosted its holdings in MongoDB by 2.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company’s stock worth $627,000 after purchasing an additional 66 shares during the last quarter. Finally, MetLife Investment Management LLC boosted its holdings in MongoDB by 1.6% in the third quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock worth $1,203,000 after purchasing an additional 72 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insiders Place Their Bets

In other MongoDB news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Thomas Bull sold 169 shares of the firm’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 $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 43,139 shares of company stock valued at $11,328,869 over the last 90 days. Insiders own 3.60% of the company’s stock.

MongoDB Stock Performance

NASDAQ MDB opened at $176.61 on Wednesday. The company has a market cap of $14.34 billion, a P/E ratio of -64.46 and a beta of 1.30. The business’s 50 day moving average price is $242.38 and its 200-day moving average price is $264.31. MongoDB, Inc. has a fifty-two week low of $170.66 and a fifty-two week high of $387.19.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate 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 firm earned $0.86 EPS. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MDB shares. Monness Crespi & Hardt upgraded MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Piper Sandler cut their target price on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Loop Capital decreased their price target on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. The Goldman Sachs Group cut their price objective on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Barclays decreased their target price on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a report on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $312.84.

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.