Wealth Enhancement Advisory Services LLC Reduces Position in MongoDB, Inc. (NASDAQ:MDB)

Wealth Enhancement Advisory Services LLC lessened its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,289 shares of the company’s stock after selling 1,911 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in MongoDB were worth $6,026,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MDB. Jennison Associates LLC boosted its holdings in shares of MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after purchasing an additional 551,567 shares during the period. Swedbank AB boosted its holdings in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after purchasing an additional 400,705 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares during the period. Clearbridge Investments LLC boosted its holdings in shares of MongoDB by 109.0% in the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after purchasing an additional 232,101 shares during the period. Finally, Point72 Asset Management L.P. purchased a new stake in shares of MongoDB in the second quarter valued at approximately $52,131,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

NASDAQ MDB opened at $283.70 on Thursday. 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’s fifty day moving average price is $273.31 and its 200 day moving average price is $280.29. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a market cap of $20.81 billion, a price-to-earnings ratio of -100.96 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $478.11 million for the quarter, compared to the consensus estimate of $465.03 million. During the same period in the prior year, the firm earned ($0.63) EPS. The firm’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the sale, the director now directly owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the sale, the director now directly owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the sale, the executive now directly owns 33,440 shares in the company, valued at $8,569,000. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,281 shares of company stock valued at $6,310,411 in the last ninety days. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of research reports. Stifel Nicolaus boosted their price target on MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, August 30th. DA Davidson upped their target price on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Bank of America upped their target price on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. UBS Group upped their target price on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, Morgan Stanley upped their target price on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $337.96.

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.