Envestnet Asset Management Inc. Trims Holdings in MongoDB, Inc. (NASDAQ:MDB)

Envestnet Asset Management Inc. reduced its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,652 shares of the company’s stock after selling 978 shares during the period. Envestnet Asset Management Inc.’s holdings in MongoDB were worth $3,505,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Sentry Investment Management LLC purchased a new stake in shares of MongoDB in the 3rd quarter valued at approximately $33,000. Alta Advisers Ltd purchased a new stake in shares of MongoDB in the 3rd quarter valued at approximately $40,000. Huntington National Bank increased its position in shares of MongoDB by 1,468.8% in the 3rd quarter. Huntington National Bank now owns 251 shares of the company’s stock valued at $50,000 after purchasing an additional 235 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of MongoDB by 37.8% in the 2nd quarter. Quadrant Capital Group LLC now owns 419 shares of the company’s stock valued at $109,000 after purchasing an additional 115 shares during the last quarter. Finally, IFP Advisors Inc increased its position in shares of MongoDB by 28.9% in the 3rd quarter. IFP Advisors Inc now owns 1,760 shares of the company’s stock valued at $155,000 after purchasing an additional 395 shares during the last quarter. 84.86% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Mizuho upped their target price on shares of MongoDB from $170.00 to $220.00 and gave the company a “neutral” rating in a report on Wednesday, February 15th. JMP Securities upgraded shares of MongoDB from a “market perform” rating to an “outperform” rating and set a $215.00 target price for the company in a report on Wednesday, December 7th. UBS Group upped their target price on shares of MongoDB from $200.00 to $215.00 and gave the company a “buy” rating in a report on Wednesday, December 7th. KeyCorp increased their price target on shares of MongoDB from $220.00 to $255.00 and gave the stock an “overweight” rating in a research note on Monday, February 6th. Finally, Morgan Stanley increased their price target on shares of MongoDB from $215.00 to $230.00 and gave the stock an “equal weight” rating in a research note on Wednesday, December 7th. Four investment analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $266.35.

MongoDB Price Performance

MongoDB stock opened at $219.06 on Monday. The firm’s 50-day moving average is $205.65 and its two-hundred day moving average is $205.95. The company has a debt-to-equity ratio of 1.66, a current ratio of 4.10 and a quick ratio of 4.10. MongoDB, Inc. has a 12-month low of $135.15 and a 12-month high of $471.96. The stock has a market capitalization of $15.18 billion, a P/E ratio of -40.79 and a beta of 1.00.

MongoDB (NASDAQ:MDB – Get Rating) last released its earnings results on Tuesday, December 6th. The company reported ($1.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.48) by $0.25. MongoDB had a negative net margin of 30.73% and a negative return on equity of 52.50%. The business had revenue of $333.62 million for the quarter, compared to analysts’ expectations of $302.39 million. Equities analysts predict that MongoDB, Inc. will post -4.65 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $207.86, for a total value of $8,314,400.00. Following the sale, the chief executive officer now directly owns 190,264 shares of the company’s stock, valued at $39,548,275.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MongoDB news, CEO Dev Ittycheria sold 40,000 shares of MongoDB stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $207.86, for a total transaction of $8,314,400.00. Following the transaction, the chief executive officer now directly owns 190,264 shares of the company’s stock, valued at $39,548,275.04. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CRO Cedric Pech sold 328 shares of MongoDB stock in a transaction that occurred on Tuesday, January 3rd. The shares were sold at an average price of $199.31, for a total transaction of $65,373.68. Following the transaction, the executive now directly owns 33,829 shares in the company, valued at $6,742,457.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 112,169 shares of company stock valued at $22,836,007. Insiders own 5.70% of the company’s stock.

About MongoDB

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.