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abrdn plc grew its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 79.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 12,019 shares of the company’s stock after purchasing an additional 5,331 shares during the quarter. abrdn plc’s holdings in MongoDB were worth $2,802,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its stake in MongoDB by 2.1% in the 1st 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. increased its stake in MongoDB by 6.4% in the fourth quarter. Franklin Resources Inc. now owns 1,962,574 shares of the company’s stock valued at $386,313,000 after purchasing an additional 118,055 shares during the last quarter. State Street Corp lifted its position 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 buying an additional 23,846 shares during the period. 1832 Asset Management L.P. boosted its stake in MongoDB by 3,283,771.0% in the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after buying an additional 1,017,969 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in MongoDB by 4.5% in the 4th quarter. Geode Capital Management LLC now owns 931,748 shares of the company’s stock valued at $183,193,000 after buying an additional 39,741 shares during the period. 89.22% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at MongoDB
In other MongoDB news, CAO Thomas Bull sold 516 shares of MongoDB 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 transaction, the chief accounting officer now owns 17,190 shares of the company’s stock, valued at $6,992,548.20. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CRO Cedric Pech sold 15,534 shares of the firm’s stock in a transaction that occurred on Tuesday, May 9th. The stock was sold at an average price of $250.00, for a total value of $3,883,500.00. Following the sale, the executive now owns 37,516 shares of the company’s stock, valued at approximately $9,379,000. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were 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 ninety days, insiders have sold 118,427 shares of company stock valued at $41,784,961. Corporate insiders own 4.80% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have weighed in on MDB shares. The Goldman Sachs Group increased their price target on shares of MongoDB from $420.00 to $440.00 in a research note on Friday, June 23rd. 58.com reaffirmed a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Barclays raised their price objective on MongoDB from $374.00 to $421.00 in a research report on Monday, June 26th. Stifel Nicolaus upped their target price on MongoDB from $375.00 to $420.00 in a research report on Friday, June 23rd. Finally, Tigress Financial raised their target price on MongoDB from $365.00 to $490.00 in a report on Wednesday, June 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $378.09.
MongoDB Stock Performance
Shares of MongoDB stock opened at $410.58 on Tuesday. 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 1 year low of $135.15 and a 1 year high of $439.00. The firm’s 50-day simple moving average is $365.22 and its 200-day simple moving average is $269.99. The firm has a market cap of $28.98 billion, a PE ratio of -87.92 and a beta of 1.13.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings data 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. 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 analysts’ expectations of $347.77 million. During the same quarter in the prior year, the firm posted ($1.15) earnings per share. MongoDB’s revenue for the quarter was up 29.0% compared to the same quarter last year. Equities analysts forecast that MongoDB, Inc. will post -2.8 earnings per share for the current fiscal year.
About MongoDB
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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