PNC Financial Services Group Inc. Cuts Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

PNC Financial Services Group Inc. decreased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 11.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,932 shares of the company’s stock after selling 255 shares during the period. PNC Financial Services Group Inc.’s holdings in MongoDB were worth $450,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. B.O.S.S. Retirement Advisors LLC purchased a new position in MongoDB during the 4th quarter valued at about $606,000. Geode Capital Management LLC grew its position in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after buying an additional 34,814 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of MongoDB in the 3rd quarter worth approximately $4,366,000. Charles Schwab Investment Management Inc. grew its position in shares of MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock worth $75,271,000 after buying an additional 7,575 shares during the last quarter. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of MongoDB in the 4th quarter worth approximately $3,515,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following the sale, the insider now owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock worth $11,328,869 over the last three months. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Stifel Nicolaus cut their price objective on shares of MongoDB from $425.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Tigress Financial lifted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price objective on the stock in a research report on Monday, January 6th. Rosenblatt Securities reissued a “buy” rating and set a $350.00 target price on shares of MongoDB in a research report on Tuesday, March 4th. Finally, Robert W. Baird dropped their target price on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $320.70.

MongoDB Price Performance

MDB opened at $190.06 on Thursday. The firm has a fifty day moving average price of $253.21 and a 200 day moving average price of $270.89. MongoDB, Inc. has a 1 year low of $173.13 and a 1 year high of $387.19. The stock has a market cap of $14.15 billion, a P/E ratio of -69.36 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the business earned $0.86 earnings per share. Equities analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

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.