MongoDB, Inc. $MDB Shares Sold by Truist Financial Corp

Truist Financial Corp lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 4.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 16,073 shares of the company’s stock after selling 667 shares during the quarter. Truist Financial Corp’s holdings in MongoDB were worth $3,375,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in MongoDB during the 1st quarter valued at $25,000. Hollencrest Capital Management purchased a new position in shares of MongoDB during the 1st quarter worth $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after purchasing an additional 120 shares during the period. State of Wyoming purchased a new position in shares of MongoDB during the 1st quarter worth $62,000. Finally, Brooklyn Investment Group lifted its stake in shares of MongoDB by 247.9% during the 1st quarter. Brooklyn Investment Group now owns 407 shares of the company’s stock worth $71,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Up 2.6%

Shares of MDB opened at $326.78 on Thursday. The firm has a market capitalization of $26.59 billion, a P/E ratio of -333.45 and a beta of 1.50. The stock’s fifty day simple moving average is $281.87 and its 200 day simple moving average is $223.26. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00.

Insider Buying and Selling

In other MongoDB news, Director Peter Thomas Killalea sold 20,000 shares of the firm’s stock in a transaction dated Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total value of $6,437,400.00. Following the transaction, the director directly owned 32,293 shares of the company’s stock, valued at $10,394,147.91. This trade represents a 38.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 25,000 shares of the firm’s stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $320.15, for a total value of $8,003,750.00. Following the completion of the transaction, the director directly owned 1,079,316 shares in the company, valued at $345,543,017.40. This trade represents a 2.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 106,163 shares of company stock valued at $31,862,322 over the last ninety days. Insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on MDB shares. JMP Securities increased their price target on MongoDB from $345.00 to $375.00 and gave the stock a “market outperform” rating in a research note on Friday, September 19th. Piper Sandler increased their price target on MongoDB from $345.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. Robert W. Baird increased their price target on MongoDB from $260.00 to $335.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 27th. Truist Financial increased their price target on MongoDB from $330.00 to $375.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Finally, DA Davidson increased their price target on MongoDB from $325.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $342.69.

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.