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Welch & Forbes LLC boosted its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 30,948 shares of the company’s stock after acquiring an additional 6,630 shares during the quarter. Welch & Forbes LLC’s holdings in MongoDB were worth $5,428,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cloud Capital Management LLC acquired a new stake in MongoDB during the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. grew its stake in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB during the 4th quarter valued at about $29,000. Coppell Advisory Solutions LLC grew its stake in MongoDB by 364.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock valued at $54,000 after acquiring an additional 182 shares in the last quarter. Finally, Aster Capital Management DIFC Ltd purchased a new position in MongoDB during the 4th quarter valued at about $97,000. Institutional investors and hedge funds own 89.29% of the company’s stock.
MongoDB Trading Up 4.2%
Shares of NASDAQ:MDB traded up $8.89 during trading on Thursday, hitting $218.53. 2,240,733 shares of the company’s stock traded hands, compared to its average volume of 1,983,121. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00. The company has a market cap of $17.86 billion, a price-to-earnings ratio of -191.69 and a beta of 1.41. The company has a 50-day moving average price of $201.86 and a 200-day moving average price of $213.26.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. During the same quarter in the previous year, the business posted $0.51 EPS. MongoDB’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities analysts have weighed in on MDB shares. Truist Financial lowered their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research note on Monday, March 31st. UBS Group lifted their target price on MongoDB from $213.00 to $240.00 and gave the company a “neutral” rating in a research note on Thursday, June 5th. Bank of America boosted their price target on MongoDB from $215.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $320.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Finally, Wolfe Research began coverage on MongoDB in a research report on Wednesday, July 9th. They set an “outperform” rating and a $280.00 target price for the company. Eight investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $282.39.
Check Out Our Latest Stock Report on MDB
Insider Buying and Selling at MongoDB
In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the business’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director owned 21,096 shares of the company’s stock, valued at $4,241,983.68. The trade was a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 820 shares of the business’s stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total value of $172,888.80. Following the transaction, the director directly owned 1,106,186 shares in the company, valued at $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,746 shares of company stock worth $7,500,196. Corporate 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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