Month: July 2023

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The Data and AI company Databricks recently unveiled Lakehouse AI, a suite of tools for building and governing generative AI models, including large language models (LLMs), within the Databricks platform. Among the tools were LakehouseIQ, a “knowledge engine” that uses AI to understand a company’s unique data, culture, and language in order to improve natural language interfaces like chatbots.

Databricks updated its Delta Lake standard for the analytic data tables in data-lake systems. Delta Lake competes with other open-source standards like the Apache Foundation’s Iceberg and Hudi. “There’s all this talk about format wars, and it’s actually really unfortunate,” Databricks CEO and co-founder Ali Ghodsi said. The key innovation in Delta Lake 3.0 is its new Universal Format, or “UniForm“, capability. This feature enables data stored in Delta Lake data tables to be read as if it were in Apache Iceberg or Apache Hudi format.

On the governance front, Databricks released new federation capabilities in its Unity Catalog service that break down silos between data systems on the platform. These new features enable customers to locate, query, and govern data across all connected systems from a single interface, without the necessity of moving or duplicating the data. The federation includes the ability to map and query data from sources like MySQL, Redshift, Snowflake, and BigQuery, in addition to Databricks. Users can apply access control and auditing to data from a single point.

Databricks also announced it would acquire MosaicML. The acquisition of MosaicML aims to take the cost of hosting models down to hundreds of thousands of dollars per model and enable businesses to train customized language models at a lower cost by combining Databricks’ data infrastructure with MosaicML’s model-training platform. “Not everybody, every application, requires a GPT-4,” said Sreekar Krishna, KPMG’s U.S. artificial-intelligence leader, referring to OpenAI’s large language model.

Some industry watchers question if Databricks’ reliance on its proprietary platform could deter new customers due to concerns about vendor lock-in. Ori Rafael, the CEO of data pipeline company Upsolver, sees echoes of the data warehouse lock-in that customers experienced with Oracle and Teradata in the new cloud data warehouse offerings. “I think the Lakehouse [has] too much branding around it and not enough essence,” Rafael said. Ghodsi argued, “Databricks and MosaicML have an incredible opportunity to democratize AI and make the Lakehouse the best place to build generative AI and LLMs.”

For more information on Databricks Data and AI Summit 2023, check out the conference main website and session catalog.

Article originally posted on InfoQ. Visit InfoQ

“The illiterate are not those who can’t read or write, but those who can’t learn, unlearn, and relearn.”
– Alvin Toffler

In a world of constant change, competitive advantage goes to those who can adapt and evolve. Learning is part of adaptation. Learning requires change. For the past couple of decades, agile practices have become common in software development for this very reason.

Some may argue that “agile has failed”. I will argue that agile has not failed, but our agile practices have not evolved with time. Agile is like music, and just like music has several genres, there are many different agile methodologies. Agility, on the other hand, is not bound to any specific methodology. Agility is how fast we can respond to change. For a team to be agile, they need a culture that allows them to learn, unlearn, and relearn. The team needs to embrace change and be trusted and supported in their learning process.

In this article, I will explain how teams can foster such a culture, navigate through the complexities of modern development environments and harness agility to deliver software quickly that fits the needs of users and business sponsors. I will introduce the IDEA  (Imagine, Decide, Execute, Assess) framework that helps form the foundational layer of project initiation and development. This framework will allow teams to explore, plan, implement and evaluate ideas. Once a project is underway, after a Minimum Lovable Product (MLP – a basic product, feature, or a design that sparks user delight and anticipation) is achieved, iterative learning models such as PDSA (Plan-Do-Study-Act; aka The Deming Cycle) become relevant, guiding teams in refining and improving processes for ongoing development and success. Together, these methodologies create a comprehensive blueprint from ideation to continual improvement.

Defining Agility

 Agility is the ability of individuals and teams to change the product or process based on feedback or new information. Agility requires a continuous cycle of learning, unlearning outdated methods, and relearning new skills, technology, or information. Effective agile methodologies enable and provide structure for these changes.

The power of agility is not limited to managing change; it’s also about creating a framework that enables exploration with limited downside risk, sparks innovation, and drives business value.

The IDEA Approach

I came up with the IDEA approach several years ago for experimental projects, though back then it didn’t have a name. I had found the cycle of asking a question, deciding how to tackle it, building the Minimum Viable Product (MVP) and iterating on the feedback to make it worth releasing to the users very valuable. The approach empowers teams to evaluate if a potential project is a good fit for investment of time and resources. Since exploratory projects often have limited time and budget, IDEA provides a mechanism to confirm if the project is worth more investment. Most importantly, the framework guides the development of a MLP. The MLP starts once an MVP is achieved. This is an evidence-based approach. Feedback gathered in the real world from stakeholders, initial users, and the system itself are essential to go from a MVP to a MLP:

• Imagine: This phase is all about exploring new ideas with an open and creative mind. Here, the team identifies the next best test and considers questions such as the business or user problems to be solved, profit opportunities, cost benefits, and skills required to explore the potential project.
• Decide: After agreeing that the idea is worth exploring, the team needs to decide on the scope, setting delivery goals, outlining a high-level strategy to tackle the problem, and defining what the MVP or the MLP looks like. The team should also assess the realism of the idea, the potential challenges, and the ideal exploratory team structure.
• Execute: It’s action time! With a defined goal and enough information to get started, the team proceeds to execute the project. Key elements in this phase include task assignment, development, stakeholder communication, and expectation adjustment. Regular checks are necessary to confirm the progress is being made towards the goal, the team is on the right track, the necessary team members, skills, and tools are in place, and that the project goals remain realistic.
• Assess: In this phase, the team collects feedback from stakeholders, users, and the system to build the MLP. Feedback is invaluable in making informed decisions on whether to continue building and adding features, refining the idea, starting from scratch, or even terminating the project. Questions to consider during this phase include what has been learned from the feedback and where the project should go next.

The IDEA framework, coupled with the “Nail it, then scale it” philosophy provides a potent strategy for exploratory projects. The “Nail it, then scale it” philosophy underscores the importance of perfecting an idea or solution before scaling it up, thereby ensuring its viability and relevance at a larger scale.

Here are some specific suggestions to make IDEA work well, grouped into topics.

Explore New Ideas

Coming up with new ideas involves a combination of creative thinking, strategic planning, collaboration, and openness to change and learn.

For example, if you need to come up with a new product idea, consider inviting all relevant parties – stakeholders, executives, team members and select users or customers – to the workshop in which:

• Everyone is free to put their ideas on the board (whiteboard, miro board, etc)
• They get to present their idea to the group in 1 min or less
• Then regroup the ideas (find those that are very similar to each other)
• Allow members to go back to the board and vote on ideas they want to explore more (let’s say everyone gets three votes and they can use it however they want, including vote three times on their own idea)
• Next is to find the most popular idea(s), form an exploratory team around it and get things started!

Make Good Scoping Decisions

Here are a few tools and techniques that I’ve found to be effective:

• MVP in terms of features:
  • Ask all the features to be written down
  • Prioritized in terms of their business value and complexity to build them, with the highest valued features having the lowest complexity on top of the list
  • Start taking features out, until the product no longer exists without that feature
  • Then put that last feature back in the list
  • Start building from the top of the list
• MVP in terms of time, this one is from Jeff Patton’s “Passionate Product Leadership” workshop:
  • Put all the features on the board
  • Sort them in the order of their dependencies to each other (or by time)
  • Next imagine you only have 6 months to build something. Which features do you take out?
  • What if we have 3 months? What if you have 1.5 months? …
  • Take the features and put them on a “high perceived business value / low complexity to build” grid
  • Start with features that are in the first grid (highest value and lowest complexity)

Foster the Culture of Continuous Learning and Experimentation

As a leader and a consultant, I am used to embracing the unknown – I may not know something, but I have a process to find it out. That helps the team understand that they don’t need to have the answers to everything, but they must be flexible to pick up new skills, find resources, and be open to learning new things.

Empathy and trust goes a long way when building relationships. If the team is expected to pick up new skills, they need to have dedicated and uninterrupted time to practice and learn. As a team, you can timebox the uninterrupted time you need. However, expecting your team to pick up new skills while they’re also expected to work full-time on their current projects will end up in disappointment and burnout.

Another important factor is that people adopt new skills differently. Some people learn better in groups and some alone. I always respect individual preferences. However, having a couple hours of workshops for the whole team often benefits everyone. During these workshops everyone can discuss their learning, questions, and interesting facts they found out.

From my experience as a consultant, I often find myself stepping into the unknown with new clients and projects. This has taught me that openness, honesty and curiosity are fundamental. In my consulting engagements, a culture of continuous learning is not merely a theoretical concept but a practical and integral part of our work which makes each project a new adventure and every challenge a new opportunity for growth.

Moreover, part of fostering a culture of continuous learning and experimentation involves strategically anticipating potential challenges. This is where conducting pre-mortems are instrumental. The pre-mortem allows the team to talk through possible obstacles or failures before they occur. Obviously, we cannot account for every possible risk, but conducting pre-mortems has many benefits. One is to help teams to develop proactive strategies and solutions, thereby contributing to a more resilient and adaptive environment. Another benefit is that the team is more prepared to handle a potential failure when and if it occurs because they’re mentally more prepared.

Balance Exploration and Exploitation

Understanding a team’s capacity and their existing skills are important factors in striking the right balance between exploration and exploitation. Introducing more than one new concept at a time can dilute focus and hinder effective learning. Moreover, it’s essential for the team to have the opportunity to master new skills and gain confidence in applying them. Once the new skills are achieved, celebrate them to boost team morale.

However, constant change can cause the team to feel unstable and eventually burn out. Balancing exploration and exploitation is specific to each team and should be adjusted based on their comfort and interest.

Collect Useful Feedback

Depending on the project, you may want to collect feedback from several sources. That includes stakeholders, internal users, external users (customers), and the system. For example:

• Collecting feedback from your stakeholders could be done during regular demos (hopefully no longer than bi-weekly)
• Collecting feedback from internal or external users could be done through frequent deployment to the production to allow them to test the new features
• Collecting feedback from the system could be done by putting logs and metrics in right places to collect relevant data that helps you make decisions

When you are collecting feedback, especially from the stakeholders and users (internal and/or external) diversification is key. How much diversification do you need? We may not have the capacity to include everyone and there’s always a chance of leaving someone important out. When it comes to sample sizing, consider those who are the majority of the users, as well as those who are the risky samples even if there are only a handful of cases.

Furthermore, it’s important to choose appropriate metrics for evaluation. These could range from usability rating, system performance, customer satisfaction score, drop-out rate, etc. Collecting the right metrics ensures we capture relevant data to inform strategic decisions. We want to make decisions with the lights on, not just based on our gut feelings.

Use Feedback for Decision-Making

Feedback serves as a guidance on the development journey whether it’s related to adding new features, enhancing existing ones, or even pivoting the direction of the project.

During the Decide phase (deciding on the scope of the project), it’s crucial to stay focused on validation of the core concept, hence, additional features should be deferred unless they prove crucial for the Minimum Viable Product (MVP) or Minimum Lovable Product (MLP). This practice is going to help the team focus on building features that the stakeholder can use to decide if they want to persist or pivot.

During the Execute phase (the product development), feedback can significantly impact priorities. Every new feature or enhancement request should be measured against what’s in the scope to prevent scope creep. Consider if the new request has a business value that fits in the MVP/MLP, and the complexity to deliver it. That said, all ideas are welcome and they can be added to the backlog until the time is right to implement them.

Once MVP is achieved, the aim should be to transform MVP into MLP. This could be achieved by incorporating users’ feedback, considering some features that make the users love the product, and build the one that’s highest in value but lowest in complexity to build. This iterative process of applying feedback ensures that the product continuously improves and evolves in response to the users needs and preferences.

On the other hand, if the feedback is scarce, it could indicate that the product isn’t engaging users as expected or perhaps the methods of collecting feedback are not effective. Here are a couple of examples:

• Proactive feedback collection: if the users are not voluntarily providing feedback, try proactive methods such as:
  • Surveys
  • User interviews
  • Usability tests
• Analyze usage data: analyze usage feedback to collect information on what features the users are most interested in
• And ultimately, if the pivot is necessary:
• Evaluate: use the information you have to identify what’s not working and a potential new direction
• Revisit the initial question (Imagine): Based on the experiments and the feedback received, make a decision to tweak the initial question or document the learning and terminate the project

It’s very important to note that pivot is not a sign of failure, but an opportunity to learn. It demonstrates adaptability and a willingness to build the right product for the user. Learning from the feedback is a key attribute of a continuous learning and experimentation culture. This is also why on exploratory projects, it’s important to start small (in terms of team, budget, and features) until you have some metrics that show there’s an opportunity to grow.

Lessons from Using the IDEA Approach

Using the IDEA approach helps me with valuable insights into the potential of various projects. In addition to deciding whether or not to pursue an idea, the process helps the team understand what resources, skills, and efforts are required. Iterating through Imagine, Decide, Execute, and Assess helps continuously learn and adjust our strategy based on real-world feedback. The IDEA framework, complemented by the “Nail it, then scale it” approach empowers the team to traverse the landscape of uncertainty with confidence. That also allows the stakeholders to make informed decisions about scaling the team and investing time and budget into the project. Informed decision-making increases the likelihood of a project’s success and minimizes the risk of resource misallocation.

Navigating the complex dynamics of the modern software ecosystem calls for more than technical prowess; it requires a mindset shift, a cultural transformation that nurtures experimentation and iterative improvement. Each step in this iterative process brings us closer to realizing the collective potential and delivering solutions that are not just viable but lovable, not just effective but transformative.

Agility is about moving forward, and every step counts!

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Mackenzie Financial Corp increased its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 96.3% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,773 shares of the company’s stock after buying an additional 2,832 shares during the period. Mackenzie Financial Corp’s holdings in MongoDB were worth $1,346,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. DekaBank Deutsche Girozentrale lifted its holdings in MongoDB by 23.4% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 13,654 shares of the company’s stock valued at $2,964,000 after purchasing an additional 2,591 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in MongoDB by 60.4% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 15,075 shares of the company’s stock valued at $3,514,000 after purchasing an additional 5,679 shares in the last quarter. Whittier Trust Co. lifted its holdings in MongoDB by 21.0% in the 1st quarter. Whittier Trust Co. now owns 29,391 shares of the company’s stock valued at $6,851,000 after purchasing an additional 5,094 shares in the last quarter. Stonegate Investment Group LLC lifted its holdings in MongoDB by 9.6% in the 1st quarter. Stonegate Investment Group LLC now owns 6,028 shares of the company’s stock valued at $1,405,000 after purchasing an additional 526 shares in the last quarter. Finally, DnB Asset Management AS lifted its holdings in MongoDB by 0.8% in the 1st quarter. DnB Asset Management AS now owns 10,158 shares of the company’s stock valued at $2,368,000 after purchasing an additional 85 shares in the last quarter. 89.22% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. 22nd Century Group reissued a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Capital One Financial started coverage on shares of MongoDB in a research report on Monday, June 26th. They issued an “equal weight” rating and a $396.00 price objective for the company. Mizuho increased their price objective on shares of MongoDB from $220.00 to $240.00 in a research report on Friday, June 23rd. VNET Group reaffirmed a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Finally, Sanford C. Bernstein increased their price objective on shares of MongoDB from $257.00 to $424.00 in a research report on Monday, June 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and an average price target of $366.59.

Insider Activity

In other news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction on Wednesday, April 26th. The stock was sold at an average price of $240.00, for a total transaction of $480,000.00. Following the transaction, the director now directly owns 1,225,954 shares of the company’s stock, valued at $294,228,960. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Dwight A. Merriman sold 606 shares of MongoDB stock in a transaction dated Monday, July 10th. The stock was sold at an average price of $382.41, for a total transaction of $231,740.46. Following the transaction, the director now directly owns 1,214,159 shares of the company’s stock, valued at $464,306,543.19. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Wednesday, April 26th. The stock was sold at an average price of $240.00, for a total value of $480,000.00. Following the transaction, the director now directly owns 1,225,954 shares in the company, valued at $294,228,960. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 117,427 shares of company stock valued at $41,364,961. Company insiders own 4.80% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $409.17 on Tuesday. MongoDB, Inc. has a 1-year low of $135.15 and a 1-year high of $418.70. The company has a debt-to-equity ratio of 1.44, a current ratio of 4.19 and a quick ratio of 4.19. The business’s fifty day moving average price is $349.74 and its two-hundred day moving average price is $261.91. The firm has a market capitalization of $28.88 billion, a PE ratio of -87.62 and a beta of 1.13.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.38. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The firm had revenue of $368.28 million for the quarter, compared to analyst estimates of $347.77 million. During the same period last year, the company earned ($1.15) earnings per share. The firm’s revenue for the quarter was up 29.0% on a year-over-year basis. On average, research analysts expect that MongoDB, Inc. will post -2.8 EPS for the current year.

About MongoDB

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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The Micronaut Foundation has recently announced the general availability (GA) release of Micronaut Framework 4.0.0. This major release brings a plethora of updates and improvements to the popular JVM-based framework, enhancing its performance, modularity, and compatibility with other technologies.

One of the key updates in Micronaut Framework 4.0.0 is the upgrade of language baselines. The framework now supports Apache Groovy 4 and Kotlin 1.8, and sets the Java baseline to 17. This means that developers can leverage the latest features and improvements in these languages while building their Micronaut applications.

For developers using Kotlin, Micronaut Framework 4.0.0 introduces support for Kotlin Symbol Processing (KSP). KSP is a powerful tool that allows developers to create compiler plugins, providing faster performance, idiomatic processing of Kotlin programs, and read-only treatment of source code for clarity and safety. However, it’s worth noting that KSP support is currently only available for Gradle.

The new version of Micronaut also brings improved support for GraalVM, a universal virtual machine that can run applications written in various languages. Micronaut Framework 4.0.0 supports the latest GraalVM release and has shifted to runtime initialization for GraalVM. This change ensures consistent behavior between Just-In-Time (JIT) and native applications, making it easier for developers to build high-performance, low-footprint applications.

Micronaut Framework 4.0.0 requires Gradle 8 for building Micronaut applications. Gradle is a powerful build tool that automates the building, testing, publishing, and deployment of software packages or other types of projects. By requiring Gradle 8, Micronaut ensures that developers can take advantage of the latest features and improvements in Gradle, such as the improved version catalog feature for dependency management.

Another significant addition in this release is the introduction of an expression language. This feature allows developers to put expressions in annotations, providing a powerful way to configure and customize the behavior of their applications. The Micronaut expression language is designed to be secure by default, with all expressions evaluated at compilation time, type-checked, and reflection-free.

For example, developers can use expressions with Micronaut’s security annotations to implement complex security rules. Consider the following example of how to use an expression with the @Secured annotation:

@Secured("user.attributes.get('email') == 'sherlock@micronaut.example'")
public void someSecureMethod() {
    // ...
}

In this example, the someSecureMethod() method will only be accessible if the current user’s email attribute is ‘sherlock@micronaut.example‘.

Java’s Project Loom is an ongoing effort to add lightweight, efficient threads (known as “virtual threads”) to the Java platform. Micronaut Framework 4.0.0 detects virtual thread support, available since Java 19, and uses it for the executor named “BLOCKING” if available. This means that Micronaut applications can automatically take advantage of virtual threads when running on a Java 19 or later runtime, leading to more efficient resource usage and potentially better performance.

Micronaut 4.0.0 also brings significant improvements to its HTTP layer. The HTTP layer has been rewritten to improve performance and reduce the presence of reactive stack frames if reactive programming is not used, such as with virtual threads. This can lead to more efficient handling of HTTP requests and responses and better overall performance of Micronaut applications.

In addition, Micronaut 4.0.0 includes experimental support for HTTP/3 and experimental support for io_uring via the Netty incubator project. HTTP/3 is the latest version of the HTTP protocol, offering improved performance, better handling of packet loss, and other benefits. io_uring is a new, high-performance I/O interface for Linux kernel system call. By providing experimental support for these technologies, Micronaut allows developers to experiment with them and potentially achieve better performance and efficiency in their applications.

The release also introduces annotation-based filters, a new implementation of the Micronaut HTTP client based on the Java HTTP client, and support for OpenAPI Spec code generation for both Gradle and Maven plugins. The transition to the jakarta namespace has been completed, replacing various javax packages with their Jakarta EE equivalents. Besides, several features have been split into separate modules for improved modularity.

Nonetheless, this release marks a significant milestone in the evolution of this popular JVM-based framework. With its numerous updates and improvements, it provides developers with a powerful, flexible, and efficient platform for building microservices and serverless applications.

For more details, developers can refer to the GitHub release notes and developers who are interested in upgrading can refer to the Upgrading to Micronaut Framework 4 guide.

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MongoDB, Inc. Experiences Substantial Growth in Institutional Investment

Date: July 16, 2023

In the first quarter of 2023, Raymond James & Associates significantly increased its stake in MongoDB, Inc. (NASDAQ:MDB), showcasing growing confidence in the company’s potential. This article explores MongoDB’s general purpose database platform and highlights the recent surge in institutional investment.

MongoDB’s Database Solutions:

MongoDB, Inc. is a global provider of a general purpose database platform that caters to diverse industries. Its offerings include MongoDB Atlas, which serves as a hosted multi-cloud database-as-a-service solution. Additionally, the company provides MongoDB Enterprise Advanced—a commercial database server designed for enterprise customers seeking cloud-based, on-premise or hybrid environment solutions.

Furthermore, developers can utilize Community Server—an effective and attainable version of the database with essential functionalities—enabling them to easily embark on their MongoDB journey.

Raymond James & Associates’ Growing Stake:

According to a recent disclosure filing with the Securities and Exchange Commission (SEC), Raymond James & Associates expanded its investment portfolio by acquiring an additional 5,173 shares during the first quarter of this year—a growth percentage of 75.4%. As a result, the institutional investor now owns 12,030 shares in MongoDB, with an estimated value of $2,804,000 based on the most recent SEC filing.

Research Analysts’ Evaluations:

Various equities research analysts have closely monitored and evaluated this emerging market player. These evaluations provide insights into market expectations and promote informed decision-making for investors.

For instance, prominent financial institutions such as The Goldman Sachs Group and Morgan Stanley have raised their price targets on MongoDB stock. Notably presenting optimistic assessments of future growth potential. Whereas Guggenheim revised their rating from “neutral” to “sell,” signaling differing perspectives within the analyst community.

By combining multiple viewpoints on stock performance through rigorous analysis, investors can gain a better understanding of the broader market sentiment surrounding MongoDB. This diversity of opinions contributes to an informed investment strategy by supplementing individual assessments.

Incorporating Bloomberg’s Data:

Bloomberg.com provides a wealth of information for investors and market analysts seeking dependable data on financial ecosystems. According to this reliable source, MongoDB, Inc. enjoys a “Moderate Buy” consensus rating among analysts and an average price target of $366.59.

Conclusion:

Raymond James & Associates’ sizeable increase in its stake illustrates growing investor confidence in MongoDB, Inc.’s potential. As an established provider in the general purpose database platform domain, MongoDB continues to attract institutional interest due to its comprehensive suite of database solutions.

Furthermore, through diverse evaluations offered by research analysts and utilizing platforms like Bloomberg.com, investors can obtain valuable insights into MongoDB’s current market position and future prospects.

As always, it is crucial for potential investors to conduct thorough research and consult with financial advisors before making any investment decisions.

MongoDB, Inc.: A Rising Star in the Database Industry with Strong Investor Interest

MongoDB, Inc.: A Technological Rising Star in the Database Industry

Date: July 16, 2023

MongoDB, Inc., a global provider of a general-purpose database platform, has recently caught the attention of several large investors. This surge in investor interest comes as no surprise, considering MongoDB’s impressive performance and ability to meet the evolving needs of enterprises worldwide.

The company offers various solutions to cater to the demands of different customer segments. One notable offering is MongoDB Atlas, a hosted multi-cloud database-as-a-service solution that enables users to seamlessly manage their databases across multiple cloud platforms. Additionally, MongoDB Enterprise Advanced provides enterprise customers with a commercial-grade database server that can be deployed on-premise or in the cloud. For developers seeking an entry point into MongoDB’s ecosystem, Community Server offers a free-to-download version of its database with essential functionalities.

Notable institutional investors such as Cherry Creek Investment Advisors Inc., Allworth Financial LP, Cetera Advisor Networks LLC, First Republic Investment Management Inc., and Janney Montgomery Scott LLC have made significant additions to their holdings in MongoDB. These investors recognize the potential for future growth and value creation within this rapidly expanding industry.

In other news related to MongoDB, Chief Technology Officer Mark Porter recently sold 2,734 shares of the company’s stock in two separate transactions. The disclosure filings indicate that Porter sold his shares at an average price ranging from $406.79 to $412.33 per share. Market observers should note that insider sales are not uncommon and may not always signify negative sentiment regarding a company’s prospects.

Analysts have been increasingly bullish on MongoDB’s outlook due to its solid financial performance. In its most recent earnings report released on June 1st, the company reported earnings per share of $0.56 for the quarter—significantly exceeding market expectations by $0.38 per share. Furthermore, its revenue for the quarter reached $368.28 million, a 29% increase compared to the same period last year. MongoDB’s ability to deliver robust financial results while maintaining strong revenue growth has solidified its position as an industry leader.

Shares of MongoDB (NASDAQ:MDB) currently trade at $398.68, with a market capitalization of $28.14 billion. The company boasts a price-to-earnings ratio of -85.37, which indicates that its future earnings potential is highly regarded by investors. Furthermore, MongoDB exhibits a beta of 1.13, highlighting its sensitivity to market movements in relation to broader indices.

Despite its remarkable performance and positive outlook, it is worth noting that MongoDB faces certain challenges within the competitive database industry that must be carefully managed. As technological advancements continue to reshape the landscape, MongoDB must stay ahead of the curve to maintain its market dominance and cater to evolving customer needs.

In conclusion, MongoDB’s consistent innovation and ability to adapt have propelled it to become one of the leading general-purpose database providers globally. With several large institutional investors recognizing its growth potential and favorable financial performance, MongoDB looks set for continued success in the years to come. However, as with any investment opportunity, investors should conduct thorough due diligence before making any decisions regarding their portfolio allocation.

Note: All information provided in this article is accurate as of July 16, 2023.

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This book offers a firm grounding in the fundamentals of database while at the same time providing a wide-ranging survey of database subfields relevant to information systems professionals. In the newly revised third edition, Dr. Mark Gillenson delivers an authoritative and comprehensive account of contemporary database management. 

The Third Edition assists readers in understanding critical topics in the subject, including data modeling, relational database concepts, logical and physical database design, SQL, data administration, data security, NoSQL, blockchain, and database in the cloud.

Author: Dr. Mark L. Gillenson
Publisher: Wiley
Date: June 2023
Pages: 416
ISBN: 978-1119907466
Print: ‎ 1119907462
Audience: Database developers
Level: Intermediate
Category: Database

Topics include:

• Brand-new content on NoSQL database management, NewSQL, blockchain, and database-intensive applications, including data analytics, ERP, CRM, and SCM
• Updated and revised narrative material designed to offer a friendly introduction to database management
• Renewed coverage of cloud-based database management
• Extensive updates to incorporate the transition from rotating disk secondary storage to solid state drives

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Book Watch is I Programmer’s listing of new books and is compiled using publishers’ publicity material. It is not to be read as a review where we provide an independent assessment. Some, but by no means all, of the books in Book Watch are eventually reviewed.

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Can a new entrant win in a market dominated by huge incumbents? The answer is “Yes” – if and only if its product delivers so much more value than rivals’ that customers are better off switching to the upstart’s product.

That’s what Manhattan database provider. MongoDB
MDB
, has done.

After soaring some 11,800% since its October 2017 IPO, demand from customers investing in generative AI could help fuel a continued rise in MongoDB’s stock.

MongoDB’s Rapid Growth Spurred By Compelling Product In Huge Market

MongoDB beat expectations and raised guidance in its most recent quarter. With its small market share in a large, growing market, the database company is benefiting from a product that customers find more compelling than rivals’.

MongoDB Beats and Raises In Q1 2024

In early June, MongoDB reported growth for the quarter ending April 30 after a disappointing result in the previous quarter. In Q1 2024, revenue increased 29% from the prior quarter to $386 million — $21 million above analyst expectations — while MongoDB added 2,300 net new customers — the most new adds in two years, according to Investors Business Daily.

MongoDB also raised its 2024 outlook for revenue — forecasting 15% top-line growth — and operating income.

In June, the database provider said in fiscal 2024 it “expects more than $1.5 billion in revenue [analysts expected $1.51 billion] and in excess of $110 million in operating income,” noted IBD. In the previous quarter, IBD cited a macroeconomic slowdown and weaker customer demand for its lower outlook.

MongoDB’s Competitive Position

MongoDB offers a product that appeals to customers more than competing products.

MongoDB’s product is easier for customers to tailor to their multicloud computing environments. Its program helps developers “build and design applications in a fast, flexible and scalable manner and enables them to integrate powerful AI features,” noted IBD. Moreover, MongoDB’s platform works with three cloud services leaders — AWS, Azure, and Google Cloud.

MongoDB’s legacy rivals — Microsoft
MSFT
SQL Server, Oracle’s
ORCL
Database, and IBM’s DB2 —use Structured Query Language to build tabular databases. These legacy products are not as appealing to customers because these off-the-shelf products are more difficult to customize, Ivan Feinseth, director of research at Tigress Financial Partners, told IBD.

To be sure, MongoDB aims at a large market — growing at a nearly 14% compound annual rate to $136 billion by 2027, according to IDC. Yet its current share is small. Michael Gordon, MongoDB’s COO and CFO
CFO
, said the company’s market share is approaching 2%.

Gordon stated MongoDB’s product is poised to gain more market share because it helps companies incorporate generative AI into their business strategies. He told IBD, “MongoDB Atlas is the ideal platform to reach that goal.”

Unlike incumbents, Atlas uses NoSQL — “a document-based data model that creates unstructured, non-relational data documents.” In a recent note to investors, Jason Ader and Sebastien Naji of William Blair wrote MonbgoDB has significant growth potential since fewer than “40% of the Fortune 500 are MongoDB customers today.”

Why MongoDB’s Value Keeps Growing

MongoDB’s success springs from a simple idea: years before the company went public its product worked better at a fraction of the price of Oracle’s MySQL. That superior customer value proposition has propelled its growth before and after its IPO.

In October 2013, then-CEO Max Schireson — who left in 2014 to make way for current CEO Dev Ittycheria — told me customers loved MongoDB’s value proposition. “We are much more flexible — we make it easier for developers to handle many different kinds of unstructured data such as emails, tweets, videos, and other social media. And we run on commodity servers,” he said.

When you take into account the full cost to a company, MongoDB offered an irresistible bargain. “We believe that the cost of the software should equal that of the hardware. We typically charge $5,000 per server per year for the software to run on a server that costs about $5,000. Our competition charges hundreds of thousands of dollars per server-year plus $50,000 a year in maintenance and their software runs on $10,000 servers,” said Schireson.

MongoDB grew considerably between 2011 — when Schireson became CEO — and May 2017 — when I last spoke with Ittycheria.

By May 2017, MongoDB’s payroll had more than doubled and its customer count had soared five-fold since 2011. “We now have over 3,000 customers and are approaching 800 employees. We are winning market share because we increase developer productivity (at $250,000 a year they are very expensive), we offer high performance at scale, our product is fault-tolerant, it runs anywhere, and it costs less,” Ittycheria told me in May 2017.

I spoke with two MongoDB customers that month. One of them, Sam Broe, Chief Product Officer, at Bond — a maker of “digital products that enable customers to send beautiful, thoughtful, handwritten correspondence from their computer or phone” — told me Bond switched in March 2016 to MongoDB after four years of using MySQL.

Four years after adopting Oracle’s product, MySQL could not handle the rapid increase in the amount of data added daily to Bond’s system — MongoDB’s did the job. As Broe noted, Bond’s “platform approach requires us to have an easily scalable, rapidly deployable, highly available storage solution. That’s why we’re sticking with MongoDB.”

MongoDB has grown considerably since going public in October 2017. As of July 2023, it had 4,527 employees, $1.3 billion in revenue, and 43,100 customers. Between its IPO and July 14, its stock price has increased from $30 a share at a 56% average annual rate to $400.

Customers still have a favorable view of MongoDB’s Atlas product. 1,190 customer reviews tracked by Gartner Peer Insights give Atlas 4.4 out of five stars.

For example, one customer wrote, “MongoDB’s architecture is designed for horizontal scalability, making it an ideal choice for applications that require high availability and performance. With MongoDB’s built-in sharing capabilities, data can be distributed across multiple servers, allowing seamless scaling as the application grows. It ensures your application can handle increased traffic and data volume without sacrificing performance or availability.”

MongoDB is still taking customers from Oracle. As Ittycheria said on a June 1 conference call with analysts, China Mobile moved a service for sharing billing information with customers from Oracle to MongoDB, “leading to an 80% performance increase and reducing the number of underlying servers from 50 to 12,” according to CNBC.

Where MongoDB Stock Goes Next

The 22 analysts offering 12-month price forecasts for MongoDB Inc have a median target of $420.50. The median estimate represents a 5.49% increase from the last price of 398.63, according to CNNBusiness.

MongoDB stock is outpacing the NASDAQ
NDAQ
considerably so far this year — up a whopping 109% compared to 36% for the tech-heavy index.

Analysts see the run up in MongoDB’s stock as almost fully reflecting its value.

For those considering an investment in this company, it should be a concern that its forecast of 15% 2024 revenue growth is so much slower than its 47% average revenue growth since 2021.

However, when it next reports its quarterly results, if MongoDB exceeds its modest forecast and raises guidance, I think the stock will rise further.

Article originally posted on mongodb google news. Visit mongodb google news

Posted on mongodb google news. Visit mongodb google news

Arizona State Retirement System grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 3.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,975 shares of the company’s stock after purchasing an additional 695 shares during the period. Arizona State Retirement System’s holdings in MongoDB were worth $4,657,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MDB. Vanguard Group Inc. grew its holdings in MongoDB by 2.1% during the first quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company’s stock worth $2,648,332,000 after acquiring an additional 121,201 shares during the period. Franklin Resources Inc. grew its holdings in MongoDB by 6.4% during the fourth quarter. Franklin Resources Inc. now owns 1,962,574 shares of the company’s stock worth $386,313,000 after acquiring an additional 118,055 shares during the period. State Street Corp grew its holdings in MongoDB by 1.8% during the third quarter. State Street Corp now owns 1,349,260 shares of the company’s stock worth $267,909,000 after acquiring an additional 23,846 shares during the period. 1832 Asset Management L.P. grew its holdings in MongoDB by 3,283,771.0% during the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after acquiring an additional 1,017,969 shares during the period. Finally, Geode Capital Management LLC grew its holdings in MongoDB by 4.5% during the fourth quarter. Geode Capital Management LLC now owns 931,748 shares of the company’s stock worth $183,193,000 after acquiring an additional 39,741 shares during the period. 89.22% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

Shares of MongoDB stock opened at $398.68 on Monday. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.44. MongoDB, Inc. has a 52-week low of $135.15 and a 52-week high of $418.70. The stock has a 50-day simple moving average of $346.49 and a 200-day simple moving average of $260.43.

MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.18 by $0.38. The business had revenue of $368.28 million during the quarter, compared to analyst estimates of $347.77 million. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The firm’s revenue was up 29.0% on a year-over-year basis. During the same period in the previous year, the company earned ($1.15) EPS. On average, research analysts anticipate that MongoDB, Inc. will post -2.8 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MDB has been the topic of a number of research analyst reports. William Blair reaffirmed an “outperform” rating on shares of MongoDB in a report on Friday, June 2nd. Piper Sandler lifted their price target on MongoDB from $270.00 to $400.00 in a research note on Friday, June 2nd. VNET Group reissued a “maintains” rating on shares of MongoDB in a research note on Monday, June 26th. Mizuho lifted their price target on MongoDB from $220.00 to $240.00 in a research note on Friday, June 23rd. Finally, Stifel Nicolaus lifted their price target on MongoDB from $375.00 to $420.00 in a research note on Friday, June 23rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $366.59.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 606 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $382.41, for a total value of $231,740.46. Following the completion of the sale, the director now directly owns 1,214,159 shares in the company, valued at approximately $464,306,543.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Dwight A. Merriman sold 606 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $382.41, for a total value of $231,740.46. Following the completion of the sale, the director now directly owns 1,214,159 shares in the company, valued at approximately $464,306,543.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 516 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $406.78, for a total value of $209,898.48. Following the completion of the sale, the chief accounting officer now owns 17,190 shares of the company’s stock, valued at $6,992,548.20. The disclosure for this sale can be found here. In the last ninety days, insiders sold 117,427 shares of company stock worth $41,364,961. 4.80% of the stock is currently owned by insiders.

MongoDB Company Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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First Trust Direct Indexing L.P. reduced its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 16.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,405 shares of the company’s stock after selling 273 shares during the period. First Trust Direct Indexing L.P.’s holdings in MongoDB were worth $328,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. purchased a new position in MongoDB during the fourth quarter worth about $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of MongoDB during the fourth quarter valued at about $30,000. Lindbrook Capital LLC increased its position in shares of MongoDB by 350.0% during the fourth quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock valued at $34,000 after acquiring an additional 133 shares during the last quarter. Y.D. More Investments Ltd acquired a new stake in shares of MongoDB during the fourth quarter valued at about $36,000. Finally, CI Investments Inc. increased its position in shares of MongoDB by 126.8% during the fourth quarter. CI Investments Inc. now owns 186 shares of the company’s stock valued at $37,000 after acquiring an additional 104 shares during the last quarter. 89.22% of the stock is owned by hedge funds and other institutional investors.

MongoDB Trading Down 2.1 %

Shares of NASDAQ:MDB opened at $398.68 on Monday. The company has a debt-to-equity ratio of 1.44, a quick ratio of 4.19 and a current ratio of 4.19. MongoDB, Inc. has a twelve month low of $135.15 and a twelve month high of $418.70. The firm has a 50 day simple moving average of $346.49 and a 200-day simple moving average of $260.43.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Thursday, June 1st. The company reported $0.56 earnings per share for the quarter, topping the consensus estimate of $0.18 by $0.38. The business had revenue of $368.28 million during the quarter, compared to the consensus estimate of $347.77 million. MongoDB had a negative net margin of 23.58% and a negative return on equity of 43.25%. The company’s revenue was up 29.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($1.15) EPS. On average, research analysts expect that MongoDB, Inc. will post -2.8 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on MDB shares. Capital One Financial started coverage on shares of MongoDB in a research report on Monday, June 26th. They set an “equal weight” rating and a $396.00 price target for the company. Morgan Stanley lifted their price objective on shares of MongoDB from $270.00 to $440.00 in a report on Friday, June 23rd. Oppenheimer lifted their price objective on shares of MongoDB from $270.00 to $430.00 in a report on Friday, June 2nd. JMP Securities lifted their price objective on shares of MongoDB from $245.00 to $370.00 in a report on Friday, June 2nd. Finally, William Blair restated an “outperform” rating on shares of MongoDB in a report on Friday, June 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the company’s stock. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and a consensus target price of $366.59.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 516 shares of the company’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $406.78, for a total value of $209,898.48. Following the completion of the sale, the chief accounting officer now owns 17,190 shares in the company, valued at approximately $6,992,548.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction on Thursday, May 4th. The shares were sold at an average price of $240.00, for a total value of $480,000.00. Following the completion of the sale, the director now owns 1,223,954 shares in the company, valued at approximately $293,748,960. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 516 shares of the business’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $406.78, for a total transaction of $209,898.48. Following the completion of the transaction, the chief accounting officer now directly owns 17,190 shares in the company, valued at $6,992,548.20. The disclosure for this sale can be found here. Insiders sold a total of 117,427 shares of company stock worth $41,364,961 in the last 90 days. 4.80% of the stock is owned by insiders.

MongoDB Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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Jennison Associates LLC lowered its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 51.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,966 shares of the company’s stock after selling 2,106 shares during the quarter. Jennison Associates LLC’s holdings in MongoDB were worth $458,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Bessemer Group Inc. acquired a new position in shares of MongoDB in the 4th quarter valued at $29,000. BI Asset Management Fondsmaeglerselskab A S acquired a new position in shares of MongoDB in the 4th quarter valued at $30,000. Lindbrook Capital LLC boosted its position in shares of MongoDB by 350.0% in the 4th quarter. Lindbrook Capital LLC now owns 171 shares of the company’s stock valued at $34,000 after purchasing an additional 133 shares during the period. Y.D. More Investments Ltd acquired a new position in shares of MongoDB in the 4th quarter valued at $36,000. Finally, CI Investments Inc. boosted its position in shares of MongoDB by 126.8% in the 4th quarter. CI Investments Inc. now owns 186 shares of the company’s stock valued at $37,000 after purchasing an additional 104 shares during the period. Institutional investors own 89.22% of the company’s stock.

MongoDB Stock Performance

MDB opened at $398.68 on Monday. The firm has a market capitalization of $28.14 billion, a P/E ratio of -85.37 and a beta of 1.13. The stock’s 50 day moving average price is $346.49 and its two-hundred day moving average price is $260.43. The company has a quick ratio of 4.19, a current ratio of 4.19 and a debt-to-equity ratio of 1.44. MongoDB, Inc. has a 12-month low of $135.15 and a 12-month high of $418.70.

MongoDB (NASDAQ:MDB – Get Free Report) last released its earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.18 by $0.38. The firm had revenue of $368.28 million for the quarter, compared to analyst estimates of $347.77 million. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The company’s revenue was up 29.0% on a year-over-year basis. During the same quarter last year, the firm posted ($1.15) EPS. On average, equities analysts forecast that MongoDB, Inc. will post -2.8 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on MDB shares. Royal Bank of Canada increased their price target on MongoDB from $400.00 to $445.00 in a research report on Friday, June 23rd. Needham & Company LLC increased their price objective on MongoDB from $250.00 to $430.00 in a research note on Friday, June 2nd. 58.com reissued a “maintains” rating on shares of MongoDB in a research note on Monday, June 26th. KeyCorp increased their price objective on MongoDB from $229.00 to $264.00 and gave the stock an “overweight” rating in a research note on Thursday, April 20th. Finally, Barclays increased their price objective on MongoDB from $374.00 to $421.00 in a research note on Monday, June 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $366.59.

Insider Transactions at MongoDB

In other news, CRO Cedric Pech sold 360 shares of MongoDB stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $406.79, for a total transaction of $146,444.40. Following the sale, the executive now owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Cedric Pech sold 360 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $406.79, for a total transaction of $146,444.40. Following the completion of the transaction, the executive now owns 37,156 shares in the company, valued at approximately $15,114,689.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas Bull sold 516 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $406.78, for a total value of $209,898.48. Following the transaction, the chief accounting officer now owns 17,190 shares of the company’s stock, valued at approximately $6,992,548.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 117,427 shares of company stock valued at $41,364,961. 4.80% of the stock is owned by corporate insiders.

MongoDB Company Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

Further Reading

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB – Free Report).

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