MongoDB, Inc. (NASDAQ:MDB) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 11.7% in the 4th quarter, Holdings Channel.com reports. The firm owned 1,932 shares of the company’s stock after selling 255 shares during the quarter. PNC Financial Services Group Inc.’s holdings in MongoDB were worth $450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of MDB. Jennison Associates LLC boosted its stake in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares during the period. Geode Capital Management LLC boosted its stake in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the period. Westfield Capital Management Co. LP boosted its stake in MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after buying an additional 7,526 shares during the period. Raymond James Financial Inc. purchased a new position in MongoDB during the fourth quarter worth about $90,478,000. Finally, Holocene Advisors LP boosted its stake in MongoDB by 22.6% during the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after buying an additional 66,730 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Trading Up 0.7 %

MDB stock opened at $190.06 on Thursday. MongoDB, Inc. has a twelve month low of $173.13 and a twelve month high of $387.19. The company’s 50 day moving average is $253.21 and its two-hundred day moving average is $270.89. The stock has a market cap of $14.15 billion, a P/E ratio of -69.36 and a beta of 1.30.

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). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same period in the previous year, the business posted $0.86 EPS. On average, equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDB has been the subject of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research note on Wednesday, December 11th. Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 target price on shares of MongoDB in a research note on Tuesday, March 4th. Morgan Stanley lowered their target price on shares of 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 shares of MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price objective for the company. Finally, Cantor Fitzgerald started coverage on shares of MongoDB in a research note on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price objective for the company. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $320.70.

Insider Activity

In other news, CFO Michael Lawrence Gordon sold 1,245 shares of MongoDB stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $291,442.05. Following the transaction, the chief financial officer now directly owns 79,062 shares of the company’s stock, valued at $18,507,623.58. The trade was a 1.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the transaction, the director now directly owns 1,109,006 shares in the company, valued at $300,130,293.78. The trade was a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,139 shares of company stock valued at $11,328,869 in the last ninety days. 3.60% of the stock is currently owned by company insiders.

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.