Fred Alger Management LLC Sells 130,949 Shares of MongoDB, Inc. (NASDAQ:MDB)

Fred Alger Management LLC decreased its position in shares of MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 58.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 93,580 shares of the company’s stock after selling 130,949 shares during the quarter. Fred Alger Management LLC’s holdings in MongoDB were worth $18,581,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently added to or reduced their stakes in MDB. Sentry Investment Management LLC acquired a new stake in shares of MongoDB during the 3rd quarter worth $33,000. Alta Advisers Ltd acquired a new stake in shares of MongoDB during the 3rd quarter worth $40,000. Huntington National Bank grew its holdings in shares of MongoDB by 1,468.8% during the 3rd quarter. Huntington National Bank now owns 251 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of MongoDB by 37.8% during the 2nd quarter. Quadrant Capital Group LLC now owns 419 shares of the company’s stock worth $109,000 after purchasing an additional 115 shares in the last quarter. Finally, IFP Advisors Inc boosted its stake in MongoDB by 28.9% in the third quarter. IFP Advisors Inc now owns 1,760 shares of the company’s stock valued at $155,000 after buying an additional 395 shares in the last quarter. Institutional investors own 84.86% of the company’s stock.

MongoDB Price Performance

Shares of MDB opened at $204.68 on Wednesday. MongoDB, Inc. has a 1 year low of $135.15 and a 1 year high of $471.96. The company has a debt-to-equity ratio of 1.66, a current ratio of 4.10 and a quick ratio of 4.10. The company has a market capitalization of $14.18 billion, a price-to-earnings ratio of -40.61 and a beta of 1.00. The business has a 50-day moving average of $208.13 and a 200-day moving average of $199.47.

Insider Transactions at MongoDB

In other news, CEO Dev Ittycheria sold 39,382 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The stock was sold at an average price of $199.96, for a total transaction of $7,874,824.72. Following the completion of the transaction, the chief executive officer now directly owns 190,264 shares in the company, valued at $38,045,189.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MongoDB news, insider Thomas Bull sold 399 shares of MongoDB stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $199.31, for a total value of $79,524.69. Following the completion of the sale, the insider now directly owns 16,203 shares in the company, valued at $3,229,419.93. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Dev Ittycheria sold 39,382 shares of MongoDB stock in a transaction that occurred on Tuesday, January 3rd. The stock was sold at an average price of $199.96, for a total value of $7,874,824.72. Following the completion of the sale, the chief executive officer now owns 190,264 shares of the company’s stock, valued at $38,045,189.44. The disclosure for this sale can be found here. Insiders sold 112,169 shares of company stock worth $22,836,007 over the last ninety days. 5.70% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on MDB shares. Mizuho reduced their price objective on MongoDB from $220.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, March 9th. The Goldman Sachs Group reduced their price objective on MongoDB from $325.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, March 9th. Truist Financial reduced their price objective on MongoDB from $300.00 to $235.00 in a research note on Monday, January 9th. Piper Sandler reaffirmed an “overweight” rating and issued a $270.00 price objective on shares of MongoDB in a research note on Thursday, March 9th. Finally, Barclays reduced their price objective on MongoDB from $264.00 to $257.00 and set an “overweight” rating on the stock in a research note on Thursday, March 9th. Four equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $253.87.

MongoDB Profile

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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.