Wellington Management Group LLP Reduces Position in MongoDB, Inc. (NASDAQ:MDB)

Wellington Management Group LLP decreased its holdings in MongoDB, Inc. (NASDAQ:MDB) by 84.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned 2.10% of MongoDB worth $364,045,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of MDB. Hilltop National Bank boosted its stake 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 purchasing an additional 42 shares during the period. NCP Inc. bought a new position in shares of MongoDB in the fourth quarter valued at approximately $35,000. Continuum Advisory LLC grew its stake in MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after acquiring an additional 118 shares in the last quarter. Versant Capital Management Inc increased its holdings in MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after acquiring an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in MongoDB in the 3rd quarter worth approximately $44,000. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the topic of several research analyst reports. KeyCorp cut shares of MongoDB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Barclays decreased their target price on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Stifel Nicolaus dropped their price target on MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. DA Davidson upped their price objective on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Finally, Tigress Financial lifted their target price on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Seven research analysts have rated the stock with a hold rating and twenty-four have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $312.84.

Insiders Place Their Bets

In other MongoDB news, CFO Michael Lawrence Gordon sold 1,245 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 $291,442.05. Following the sale, the chief financial officer now owns 79,062 shares in the company, valued at approximately $18,507,623.58. This represents a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock worth $11,328,869 over the last three months. Company insiders own 3.60% of the company’s stock.

MongoDB Stock Up 0.7 %

Shares of MongoDB stock opened at $176.61 on Wednesday. The business has a 50 day moving average of $242.38 and a 200 day moving average of $264.31. MongoDB, Inc. has a 52 week low of $170.66 and a 52 week high of $387.19. The company has a market cap of $14.34 billion, a PE ratio of -64.46 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 last year, the company posted $0.86 earnings per share. On average, research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.