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Seaport Global Advisors LLC lessened its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 34.2% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 913 shares of the company’s stock after selling 475 shares during the quarter. Seaport Global Advisors LLC’s holdings in MongoDB were worth $213,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also made changes to their positions in MDB. Price T Rowe Associates Inc. MD grew its holdings in MongoDB by 13.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock valued at $1,770,313,000 after buying an additional 897,911 shares during the last quarter. Vanguard Group Inc. increased its position in MongoDB by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 5,970,224 shares of the company’s stock worth $2,648,332,000 after purchasing an additional 121,201 shares in the last quarter. Franklin Resources Inc. raised its stake in MongoDB by 6.4% in the 4th 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 holdings in MongoDB by 1.8% in the 1st quarter. State Street Corp now owns 1,386,773 shares of the company’s stock valued at $323,280,000 after purchasing an additional 24,595 shares in the last quarter. Finally, 1832 Asset Management L.P. boosted its stake in shares of MongoDB by 3,283,771.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after purchasing an additional 1,017,969 shares during the last quarter. 88.89% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, CAO Thomas Bull sold 516 shares of the stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $406.78, for a total value of $209,898.48. Following the sale, the chief accounting officer now owns 17,190 shares of the company’s stock, valued at approximately $6,992,548.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Thomas Bull sold 516 shares of the 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 transaction, the chief accounting officer now directly owns 17,190 shares of the company’s stock, valued at approximately $6,992,548.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction on Tuesday, July 18th. The shares were sold at an average price of $420.00, for a total value of $420,000.00. Following the sale, the director now directly owns 1,213,159 shares in the company, valued at approximately $509,526,780. The disclosure for this sale can be found here. Insiders sold a total of 99,694 shares of company stock worth $39,991,889 in the last three months. 4.80% of the stock is owned by insiders.
MongoDB Stock Performance
Shares of NASDAQ MDB traded up $1.52 during midday trading on Wednesday, hitting $376.09. The company’s stock had a trading volume of 235,342 shares, compared to its average volume of 1,686,839. The company has a debt-to-equity ratio of 1.29, a quick ratio of 4.19 and a current ratio of 4.48. MongoDB, Inc. has a 1-year low of $135.15 and a 1-year high of $439.00. The firm’s fifty day moving average price is $387.78 and its 200-day moving average price is $313.60. The firm has a market cap of $26.54 billion, a P/E ratio of -108.26 and a beta of 1.11.
Wall Street Analyst Weigh In
A number of research analysts have weighed in on MDB shares. Canaccord Genuity Group increased their price target on MongoDB from $410.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, September 5th. Truist Financial lifted their price target on MongoDB from $420.00 to $430.00 and gave the company a “buy” rating in a report on Friday, September 1st. The Goldman Sachs Group increased their price objective on shares of MongoDB from $420.00 to $440.00 in a report on Friday, June 23rd. William Blair restated an “outperform” rating on shares of MongoDB in a report on Friday, June 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $445.00 price target on shares of MongoDB in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $418.08.
MongoDB Company Profile
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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