Fifth Third Bancorp Sells 117 Shares of MongoDB, Inc. (NASDAQ:MDB)

Fifth Third Bancorp decreased its stake in MongoDB, Inc. (NASDAQ:MDB) by 19.2% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 491 shares of the company’s stock after selling 117 shares during the period. Fifth Third Bancorp’s holdings in MongoDB were worth $114,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Jennison Associates LLC lifted its holdings in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after acquiring an additional 294,228 shares in the last quarter. Avala Global LP bought a new stake in shares of MongoDB during the third quarter worth $47,960,000. Eagle Asset Management Inc. acquired a new stake in shares of MongoDB during the third quarter worth $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in MongoDB in the 3rd quarter valued at $25,636,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have issued reports on MDB shares. Macquarie assumed coverage on MongoDB in a research note on Thursday, December 12th. They issued a “neutral” rating and a $300.00 price target on the stock. Royal Bank of Canada increased their price objective on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Mizuho upped their price target on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. DA Davidson raised their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Piper Sandler reissued an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $361.00.

MongoDB Price Performance

MDB stock opened at $273.32 on Friday. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The stock has a market cap of $20.35 billion, a price-to-earnings ratio of -99.75 and a beta of 1.25. The company has a fifty day moving average price of $272.39 and a two-hundred day moving average price of $269.86.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business’s revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.96 earnings per share. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $349.17, for a total transaction of $698,340.00. Following the sale, the director now owns 1,124,006 shares of the company’s stock, valued at $392,469,175.02. This represents a 0.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This represents a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,491 shares of company stock valued at $11,554,190 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

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.