Wellington Management Group LLP Cuts Stake in MongoDB, Inc. $MDB

Wellington Management Group LLP lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 37.5% during the second quarter, HoldingsChannel reports. The firm owned 565,569 shares of the company’s stock after selling 339,074 shares during the period. Wellington Management Group LLP’s holdings in MongoDB were worth $189,975,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MDB. Cornerstone Planning Group LLC grew its stake in shares of MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. International Assets Investment Management LLC acquired a new position in MongoDB during the 4th quarter worth approximately $33,000. Cassaday & Co Wealth Management LLC purchased a new position in MongoDB in the 1st quarter worth approximately $34,000. CX Institutional boosted its holdings in MongoDB by 94.3% in the 2nd quarter. CX Institutional now owns 103 shares of the company’s stock worth $35,000 after acquiring an additional 50 shares during the period. Finally, Root Financial Partners LLC boosted its holdings in MongoDB by 58.2% in the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock worth $37,000 after acquiring an additional 32 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Trading Up 1.5%

MongoDB stock opened at $453.37 on Tuesday. The stock has a market cap of $36.46 billion, a P/E ratio of -1,225.32, a price-to-earnings-growth ratio of 3,172.71 and a beta of 1.55. The stock has a 50 day moving average of $367.65 and a 200-day moving average of $321.78. MongoDB, Inc. has a 52 week low of $215.68 and a 52 week high of $473.10.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MDB. Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. Truist Financial raised their price target on shares of MongoDB from $400.00 to $475.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Wells Fargo & Company lifted their price target on shares of MongoDB from $375.00 to $475.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 25th. Rosenblatt Securities reaffirmed a “buy” rating and set a $385.00 price target on shares of MongoDB in a research note on Tuesday, May 26th. Finally, Needham & Company LLC boosted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, six have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $458.65.

Insider Activity at MongoDB

In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $383.16, for a total transaction of $15,326,400.00. Following the completion of the transaction, the director directly owned 161,762 shares of the company’s stock, valued at $61,980,727.92. This trade represents a 19.83% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, June 17th. The stock was sold at an average price of $344.05, for a total transaction of $538,782.30. Following the completion of the sale, the director directly owned 25,444 shares of the company’s stock, valued at $8,754,008.20. The trade was a 5.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 80,696 shares of company stock valued at $31,425,055. 2.60% of the stock is owned by insiders.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.