Alliancebernstein L.P. Cuts Position in MongoDB, Inc. (NASDAQ:MDB)

Alliancebernstein L.P. lessened its stake in MongoDB, Inc. (NASDAQ:MDB) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,001 shares of the company’s stock after selling 5,503 shares during the quarter. Alliancebernstein L.P.’s holdings in MongoDB were worth $20,255,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in shares of MongoDB in the fourth quarter valued at $189,584,000. Raymond James Financial Inc. acquired a new position in MongoDB in the 4th quarter valued at about $90,478,000. Amundi lifted its holdings in MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after purchasing an additional 321,186 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after purchasing an additional 294,228 shares during the last quarter. Finally, Pictet Asset Management Holding SA grew its holdings in shares of MongoDB by 69.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 356,964 shares of the company’s stock worth $83,105,000 after buying an additional 145,854 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the transaction, the chief executive officer now directly owns 268,948 shares in the company, valued at $46,597,930.48. This trade represents a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Cedric Pech sold 1,690 shares of MongoDB 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 $292,809.40. Following the completion of the transaction, the insider now directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. This trade represents a 2.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,060 shares of company stock valued at $13,461,875. Company insiders own 3.60% of the company’s stock.

MongoDB Price Performance

Shares of MongoDB stock opened at $147.38 on Tuesday. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $387.19. The company has a market capitalization of $11.97 billion, a P/E ratio of -53.79 and a beta of 1.49. The business’s fifty day moving average price is $234.34 and its two-hundred day moving average price is $260.82.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share 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 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 period in the previous year, the company earned $0.86 EPS. On average, research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of recent analyst reports. Macquarie lowered their target price on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a report on Friday, March 7th. Scotiabank reissued a “sector perform” rating and set a $240.00 price target (down previously from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Bank of America cut their price objective on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Monness Crespi & Hardt upgraded MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. Finally, Oppenheimer cut their price target on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a report 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 company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $312.84.

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.