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Amalgamated Bank grew its stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 10.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,197 shares of the company’s stock after purchasing an additional 484 shares during the period. Amalgamated Bank’s holdings in MongoDB were worth $912,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Norges Bank acquired a new position in MongoDB during the fourth quarter worth $189,584,000. Marshall Wace LLP acquired a new position in shares of MongoDB during the 4th quarter worth $110,356,000. D1 Capital Partners L.P. purchased a new position in shares of MongoDB in the 4th quarter valued at about $76,129,000. Franklin Resources Inc. boosted its holdings in MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after buying an additional 181,962 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its holdings in MongoDB by 69.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 356,964 shares of the company’s stock worth $83,105,000 after buying an additional 145,854 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on the stock. Monness Crespi & Hardt upgraded shares of MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price target for the company in a research report on Thursday, June 5th. Daiwa Capital Markets assumed coverage on MongoDB in a research report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 target price on the stock. Guggenheim raised their price target on MongoDB from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. JMP Securities reiterated a “market outperform” rating and issued a $345.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Finally, DA Davidson restated a “buy” rating and set a $275.00 target price on shares of MongoDB in a report on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-five have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average target price of $282.47.
View Our Latest Research Report on MongoDB
MongoDB Stock Down 0.5%
MDB stock opened at $208.90 on Wednesday. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The company has a 50 day moving average of $196.81 and a two-hundred day moving average of $214.59. The company has a market cap of $17.07 billion, a price-to-earnings ratio of -183.25 and a beta of 1.41.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. MongoDB’s quarterly revenue was up 21.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.51 EPS. On average, research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.
Insiders Place Their Bets
In other news, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $468,000.00. Following the transaction, the director directly owned 1,107,006 shares in the company, valued at approximately $259,039,404. The trade was a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 25,005 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the sale, the chief executive officer directly owned 256,974 shares in the company, valued at $60,131,916. This trade represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,746 shares of company stock valued at $7,500,196 in the last quarter. Insiders own 3.10% of the company’s stock.
About MongoDB
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.
See Also
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