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Fifth Third Bancorp boosted its position in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 15.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 569 shares of the company’s stock after purchasing an additional 78 shares during the quarter. Fifth Third Bancorp’s holdings in MongoDB were worth $100,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. raised its position in shares of MongoDB by 24.4% during the 1st quarter. Assenagon Asset Management S.A. now owns 369,313 shares of the company’s stock worth $64,778,000 after buying an additional 72,424 shares in the last quarter. Handelsbanken Fonder AB raised its position in shares of MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock worth $2,599,000 after buying an additional 65 shares in the last quarter. SG Americas Securities LLC raised its position in shares of MongoDB by 1,230.3% during the 1st quarter. SG Americas Securities LLC now owns 24,997 shares of the company’s stock worth $4,384,000 after buying an additional 23,118 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of MongoDB by 57.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company’s stock worth $219,000 after buying an additional 452 shares in the last quarter. Finally, Park Avenue Securities LLC raised its position in shares of MongoDB by 52.6% during the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company’s stock worth $461,000 after buying an additional 907 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of analysts have commented on the stock. Rosenblatt Securities dropped their price target on shares of MongoDB from $305.00 to $290.00 and set a “buy” rating on the stock in a research report on Thursday, June 5th. Needham & Company LLC restated a “buy” rating and set a $270.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Macquarie restated a “neutral” rating and set a $230.00 price target (up from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Daiwa Capital Markets assumed coverage on shares of MongoDB in a report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 target price on the stock. Finally, Citigroup dropped their target price on shares of MongoDB from $430.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $282.47.
Read Our Latest Analysis on MongoDB
MongoDB Stock Down 0.7%
MDB stock opened at $204.15 on Friday. The company has a market capitalization of $16.68 billion, a price-to-earnings ratio of -179.08 and a beta of 1.39. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The firm has a 50 day moving average of $184.32 and a two-hundred day moving average of $223.66.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.51 earnings per share. On average, research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.
Insider Buying and Selling
In related news, CEO Dev Ittycheria sold 25,005 shares of the company’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the completion of the sale, the chief executive officer now directly owns 256,974 shares of the company’s stock, valued at approximately $60,131,916. This represents a 8.87% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the transaction, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. The trade was a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 49,208 shares of company stock valued at $10,167,739. Company insiders own 3.10% of the company’s stock.
MongoDB 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.
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