Fred Alger Management LLC Reduces Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Fred Alger Management LLC lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 66.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,026 shares of the company’s stock after selling 10,150 shares during the period. Fred Alger Management LLC’s holdings in MongoDB were worth $1,170,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of MDB. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB in the fourth quarter worth approximately $29,000. Hilltop National Bank increased its stake in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the period. NCP Inc. purchased a new stake in MongoDB in the fourth quarter worth $35,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MongoDB during the third quarter worth $44,000. Finally, Coppell Advisory Solutions LLC grew its holdings in shares of MongoDB by 364.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after purchasing an additional 182 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Down 0.4 %

MongoDB stock opened at $178.54 on Friday. The stock has a 50-day moving average price of $176.07 and a 200 day moving average price of $241.73. The company has a market capitalization of $14.50 billion, a price-to-earnings ratio of -65.16 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $379.06.

MongoDB (NASDAQ:MDB) last released 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 business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the previous year, the company earned $0.86 EPS. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $281.62, for a total value of $281,620.00. Following the completion of the transaction, the director now directly owns 1,112,006 shares of the company’s stock, valued at approximately $313,163,129.72. The trade was a 0.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Srdjan Tanjga sold 525 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. The trade was a 7.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 35,423 shares of company stock worth $7,429,989 over the last quarter. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on MDB shares. Needham & Company LLC decreased their price objective on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Piper Sandler dropped their price objective on MongoDB from $280.00 to $200.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 23rd. Royal Bank of Canada reduced their price objective on MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Robert W. Baird lowered their target price on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Stifel Nicolaus cut their price target on MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Eight analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $294.78.

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.