M&T Bank Corp Has $135.87 Million Position in MongoDB, Inc. $MDB

M&T Bank Corp raised its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 12,467.7% during the 4th quarter, Holdings Channel.com reports. The firm owned 323,744 shares of the company’s stock after acquiring an additional 321,168 shares during the period. M&T Bank Corp’s holdings in MongoDB were worth $135,872,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new position in shares of MongoDB during the 4th quarter valued at $28,000. Global Trust Asset Management LLC purchased a new position in shares of MongoDB during the 4th quarter valued at $38,000. Huntington National Bank grew its holdings in shares of MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 51 shares in the last quarter. Grove Bank & Trust grew its holdings in shares of MongoDB by 81.8% during the 4th quarter. Grove Bank & Trust now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 45 shares in the last quarter. Finally, TD Private Client Wealth LLC grew its holdings in shares of MongoDB by 2,825.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after acquiring an additional 113 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Trading Down 1.0%

Shares of NASDAQ:MDB opened at $261.43 on Wednesday. The stock has a market capitalization of $21.01 billion, a PE ratio of -297.08 and a beta of 1.60. MongoDB, Inc. has a 1 year low of $148.88 and a 1 year high of $444.72. The firm has a fifty day moving average price of $279.23 and a 200 day moving average price of $340.80.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. MongoDB’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.28 earnings per share. On average, sell-side analysts forecast that MongoDB, Inc. will post -0.41 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the sale, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 4,000 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the sale, the director owned 476,896 shares of the company’s stock, valued at $120,335,167.68. This trade represents a 0.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 14,756 shares of company stock valued at $3,734,893 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on MDB shares. Mizuho upgraded shares of MongoDB from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $290.00 to $325.00 in a report on Monday, March 23rd. Zacks Research cut shares of MongoDB from a “hold” rating to a “strong sell” rating in a report on Tuesday, March 31st. Stifel Nicolaus lowered their price target on shares of MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. UBS Group lowered their price target on shares of MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Finally, Monness Crespi & Hardt decreased their price objective on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Twenty-seven equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $366.16.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.