Wealth Enhancement Advisory Services LLC Sells 470 Shares of MongoDB, Inc. (NASDAQ:MDB)

Wealth Enhancement Advisory Services LLC reduced its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 2.1% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 21,411 shares of the company’s stock after selling 470 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in MongoDB were worth $3,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDB. OneDigital Investment Advisors LLC boosted its stake in MongoDB by 3.9% in the 4th quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company’s stock valued at $243,000 after purchasing an additional 39 shares during the period. Aigen Investment Management LP boosted its stake in MongoDB by 1.4% in the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company’s stock valued at $913,000 after purchasing an additional 55 shares during the period. Handelsbanken Fonder AB boosted its stake in MongoDB by 0.4% in the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock valued at $2,599,000 after purchasing an additional 65 shares during the period. O Shaughnessy Asset Management LLC boosted its stake in MongoDB by 4.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company’s stock valued at $383,000 after purchasing an additional 75 shares during the period. Finally, Fifth Third Bancorp boosted its stake in MongoDB by 15.9% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company’s stock valued at $100,000 after purchasing an additional 78 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CAO Thomas Bull sold 301 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the sale, the insider now directly owns 57,634 shares of the company’s stock, valued at $9,985,666.84. This represents a 2.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 50,382 shares of company stock valued at $10,403,807. Company insiders own 3.10% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the subject of several recent research reports. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Truist Financial reduced their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a report on Monday, March 31st. DA Davidson reissued a “buy” rating and set a $275.00 target price on shares of MongoDB in a report on Thursday, June 5th. Piper Sandler increased their target price on MongoDB from $200.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, June 5th. Finally, Rosenblatt Securities reduced their target price on MongoDB from $305.00 to $290.00 and set a “buy” rating on the stock in a report on Thursday, June 5th. Eight analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.47.

MongoDB Trading Up 1.2%

MongoDB stock opened at $209.20 on Friday. The company has a market capitalization of $17.09 billion, a PE ratio of -183.51 and a beta of 1.39. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The stock has a 50-day moving average price of $188.81 and a two-hundred day moving average price of $219.23.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 earnings per share. As a group, analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB 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.