Envestnet Portfolio Solutions Inc. Decreases Holdings in MongoDB, Inc. (NASDAQ:MDB)

Envestnet Portfolio Solutions Inc. reduced its position in MongoDB, Inc. (NASDAQ:MDB) by 18.0% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,335 shares of the company’s stock after selling 294 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in MongoDB were worth $311,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Raymond James Financial Inc. bought a new stake in MongoDB during the 4th quarter worth approximately $90,478,000. Amundi grew its stake in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after buying an additional 321,186 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after acquiring an additional 294,228 shares during the last quarter. Avala Global LP bought a new position in shares of MongoDB during the 3rd quarter valued at approximately $47,960,000. Finally, LBP AM SA raised its stake in shares of MongoDB by 81.9% in the fourth quarter. LBP AM SA now owns 246,091 shares of the company’s stock valued at $57,292,000 after acquiring an additional 110,768 shares during the period. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Down 2.6 %

MongoDB stock opened at $188.64 on Friday. MongoDB, Inc. has a 52 week low of $173.13 and a 52 week high of $387.19. The stock has a 50-day moving average price of $247.07 and a 200 day moving average price of $267.10. The company has a market capitalization of $14.05 billion, a price-to-earnings ratio of -68.85 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last released 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 business had revenue of $548.40 million during the quarter, compared to analysts’ expectations 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 period last year, the company earned $0.86 earnings per share. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several analysts have issued reports on MDB shares. Piper Sandler decreased their price objective on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research note on Thursday, March 6th. Citigroup reaffirmed a “buy” rating on shares of MongoDB in a research report on Thursday, March 6th. Robert W. Baird decreased their target price on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a report on Wednesday, December 11th. Finally, Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Seven research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

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.