American International Group Inc. Has $2.49 Million Stock Position in MongoDB, Inc. (NASDAQ:MDB)

American International Group Inc. grew its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 433.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,090 shares of the company’s stock after buying an additional 4,948 shares during the quarter. American International Group Inc.’s holdings in MongoDB were worth $2,490,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the stock. PNC Financial Services Group Inc. lifted its position in shares of MongoDB by 7.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,474 shares of the company’s stock worth $856,000 after purchasing an additional 166 shares during the period. Envestnet Portfolio Solutions Inc. acquired a new position in MongoDB in the third quarter valued at $651,000. Envestnet Asset Management Inc. boosted its position in MongoDB by 54.3% during the third quarter. Envestnet Asset Management Inc. now owns 64,491 shares of the company’s stock valued at $22,305,000 after acquiring an additional 22,699 shares during the last quarter. Clearbridge Investments LLC grew its holdings in MongoDB by 4.4% during the 3rd quarter. Clearbridge Investments LLC now owns 1,949 shares of the company’s stock worth $674,000 after acquiring an additional 82 shares during the period. Finally, LPL Financial LLC raised its position in shares of MongoDB by 20.6% in the 3rd quarter. LPL Financial LLC now owns 31,145 shares of the company’s stock worth $10,772,000 after acquiring an additional 5,329 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Up 2.8 %

MDB stock opened at $233.92 on Tuesday. MongoDB, Inc. has a 1-year low of $214.74 and a 1-year high of $509.62. The stock has a market cap of $17.16 billion, a P/E ratio of -83.25 and a beta of 1.13. The stock’s fifty day simple moving average is $312.48 and its two-hundred day simple moving average is $370.31. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The company had revenue of $450.56 million for the quarter, compared to the consensus estimate of $438.44 million. Analysts expect that MongoDB, Inc. will post -2.67 EPS for the current year.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $379.15, for a total value of $379,150.00. Following the sale, the director now owns 522,896 shares of the company’s stock, valued at approximately $198,256,018.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other MongoDB news, CEO Dev Ittycheria sold 17,160 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total transaction of $5,973,567.60. Following the completion of the transaction, the chief executive officer now owns 226,073 shares in the company, valued at $78,698,272.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $379.15, for a total transaction of $379,150.00. Following the completion of the sale, the director now directly owns 522,896 shares in the company, valued at approximately $198,256,018.40. The disclosure for this sale can be found here. Insiders sold 49,976 shares of company stock valued at $17,245,973 in the last three months. Company insiders own 3.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on MDB. Bank of America decreased their target price on MongoDB from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, May 17th. Scotiabank lowered their price objective on shares of MongoDB from $385.00 to $250.00 and set a “sector perform” rating for the company in a research note on Monday, June 3rd. Truist Financial cut their target price on shares of MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Mizuho decreased their price target on shares of MongoDB from $380.00 to $250.00 and set a “neutral” rating for the company in a research note on Friday, May 31st. Finally, Loop Capital cut their price objective on shares of MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $361.30.

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.