Allspring Global Investments Holdings LLC Has $47.39 Million Position in MongoDB, Inc. (NASDAQ:MDB)

Allspring Global Investments Holdings LLC cut its holdings in MongoDB, Inc. (NASDAQ:MDB) by 54.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 175,290 shares of the company’s stock after selling 211,886 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.24% of MongoDB worth $47,390,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in MongoDB by 12.9% in the 1st quarter. Advisors Asset Management Inc. now owns 324 shares of the company’s stock worth $116,000 after purchasing an additional 37 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of MongoDB by 1.2% during the 1st quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock worth $1,169,000 after buying an additional 39 shares during the period. Taylor Frigon Capital Management LLC boosted its holdings in shares of MongoDB by 0.4% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 9,903 shares of the company’s stock worth $2,475,000 after buying an additional 42 shares during the period. Fifth Third Bancorp raised its holdings in MongoDB by 7.6% in the 2nd quarter. Fifth Third Bancorp now owns 620 shares of the company’s stock worth $155,000 after acquiring an additional 44 shares during the period. Finally, Clarius Group LLC lifted its position in MongoDB by 5.1% during the 2nd quarter. Clarius Group LLC now owns 943 shares of the company’s stock worth $236,000 after acquiring an additional 46 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Trading Down 2.7 %

MDB stock opened at $264.44 on Wednesday. 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 stock has a market capitalization of $19.40 billion, a price-to-earnings ratio of -94.11 and a beta of 1.15. The business has a fifty day moving average price of $271.57 and a 200 day moving average price of $283.41. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the previous year, the business posted ($0.63) earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts expect that MongoDB, Inc. will post -2.44 EPS for the current fiscal year.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the sale, the chief accounting officer now directly owns 16,222 shares in the company, valued at $4,589,041.58. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now owns 1,140,006 shares in the company, valued at approximately $263,341,386. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 23,281 shares of company stock valued at $6,310,411 over the last three months. 3.60% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have commented on MDB shares. Wells Fargo & Company lifted their price target on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Truist Financial boosted their target price on shares of MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Oppenheimer boosted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Sanford C. Bernstein increased their target price on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $337.96.

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.