Prudential Financial Inc. Reduces Position in MongoDB, Inc. (NASDAQ:MDB)

Prudential Financial Inc. lowered its position in MongoDB, Inc. (NASDAQ:MDB) by 4.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,152 shares of the company’s stock after selling 105 shares during the period. Prudential Financial Inc.’s holdings in MongoDB were worth $501,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Hilltop National Bank lifted its position in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares during the period. NCP Inc. purchased a new position in MongoDB in the 4th quarter valued at $35,000. Continuum Advisory LLC increased its stake in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the period. Versant Capital Management Inc raised its position 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 buying an additional 165 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of MongoDB in the 3rd quarter worth $44,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $171.34 on Thursday. The business’s 50-day simple moving average is $224.89 and its 200 day simple moving average is $257.73. The company has a market cap of $13.91 billion, a P/E ratio of -62.53 and a beta of 1.49. MongoDB, Inc. has a one year low of $140.78 and a one year 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 (EPS) 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 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 quarter in the prior year, the business earned $0.86 EPS. Analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,045 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $242.67, for a total transaction of $253,590.15. Following the completion of the sale, the director now owns 85,652 shares in the company, valued at $20,785,170.84. The trade was a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. The trade was a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,060 shares of company stock valued at $13,461,875 in the last ninety days. Insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on MDB shares. Morgan Stanley cut their price target on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Cantor Fitzgerald began coverage on MongoDB in a research note on Wednesday, March 5th. They set an “overweight” rating and a $344.00 target price for the company. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a research note on Monday, January 6th. Citigroup reduced their target price on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Finally, Piper Sandler lowered their price target on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $312.84.

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.