Envestnet Asset Management Inc. Lowers Stake in MongoDB, Inc. (NASDAQ:MDB)

Envestnet Asset Management Inc. decreased its position in MongoDB, Inc. (NASDAQ:MDB) by 5.3% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 103,871 shares of the company’s stock after selling 5,779 shares during the quarter. Envestnet Asset Management Inc. owned 0.14% of MongoDB worth $25,964,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in MongoDB by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after acquiring an additional 194,148 shares in the last quarter. Atalanta Sosnoff Capital LLC lifted its position in shares of MongoDB by 24.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock worth $22,205,000 after purchasing an additional 10,753 shares in the last quarter. Artisan Partners Limited Partnership purchased a new position in shares of MongoDB in the fourth quarter valued at approximately $10,545,000. Prudential PLC grew its holdings in shares of MongoDB by 2.4% in the fourth quarter. Prudential PLC now owns 21,169 shares of the company’s stock valued at $8,655,000 after purchasing an additional 489 shares in the last quarter. Finally, Bornite Capital Management LP purchased a new stake in MongoDB during the 4th quarter worth approximately $6,133,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Canaccord Genuity Group decreased their price target on shares of MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a research report on Friday, May 31st. Mizuho boosted their target price on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Guggenheim raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, June 3rd. Piper Sandler boosted their price objective on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $337.56.

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the transaction, the director now owns 20,020 shares in the company, valued at $4,564,560. The disclosure for this sale can be found here. Insiders sold 32,005 shares of company stock worth $8,082,746 over the last 90 days. 3.60% of the stock is currently owned by insiders.

MongoDB Stock Down 1.9 %

MDB stock opened at $278.45 on Friday. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The company has a market cap of $20.42 billion, a price-to-earnings ratio of -99.09 and a beta of 1.15. The company has a fifty day moving average price of $259.06 and a 200 day moving average price of $297.93.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.63) earnings per share. Sell-side analysts expect that MongoDB, Inc. will post -2.46 earnings per share for the current year.

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.