MMS • RSS
American International Group Inc. grew its stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 433.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,090 shares of the company’s stock after purchasing an additional 4,948 shares during the period. American International Group Inc.’s holdings in MongoDB were worth $2,490,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the stock. Jennison Associates LLC boosted its position in MongoDB by 3.3% during the 4th quarter. Jennison Associates LLC now owns 3,856,857 shares of the company’s stock worth $1,576,876,000 after buying an additional 122,893 shares during the period. Norges Bank bought a new position in MongoDB during the 4th quarter worth approximately $326,237,000. First Trust Advisors LP raised its holdings in MongoDB by 59.3% during the 4th quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after purchasing an additional 204,284 shares during the last quarter. Northern Trust Corp raised its holdings in MongoDB by 5.5% during the 3rd quarter. Northern Trust Corp now owns 448,035 shares of the company’s stock worth $154,957,000 after purchasing an additional 23,270 shares during the last quarter. Finally, Axiom Investors LLC DE bought a new position in MongoDB during the 4th quarter worth approximately $153,990,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.
MongoDB Stock Performance
Shares of NASDAQ:MDB traded down $7.31 during midday trading on Tuesday, reaching $226.61. The company had a trading volume of 1,660,374 shares, compared to its average volume of 1,521,207. The company’s 50 day moving average price is $310.02 and its 200 day moving average price is $369.21. The company has a current ratio of 4.93, a quick ratio of 4.93 and a debt-to-equity ratio of 0.90. The stock has a market cap of $16.62 billion, a P/E ratio of -80.64 and a beta of 1.13. MongoDB, Inc. has a 52-week low of $214.74 and a 52-week high of $509.62.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.80). The company had revenue of $450.56 million for the quarter, compared to the consensus estimate of $438.44 million. MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. As a group, sell-side analysts anticipate that MongoDB, Inc. will post -2.67 EPS for the current fiscal year.
Analysts Set New Price Targets
Several research firms have issued reports on MDB. KeyCorp lowered their price target on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Robert W. Baird lowered their price target on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a report on Friday, May 31st. Loop Capital lowered their price target on shares of MongoDB from $415.00 to $315.00 and set a “buy” rating for the company in a report on Friday, May 31st. Stifel Nicolaus dropped their target price on shares of MongoDB from $435.00 to $300.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Finally, Wells Fargo & Company cut their target price on shares of MongoDB from $450.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus price target of $361.30.
Check Out Our Latest Research Report on MDB
Insider Buying and Selling at MongoDB
In other news, CEO Dev Ittycheria sold 17,160 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total value of $5,973,567.60. Following the sale, the chief executive officer now directly owns 226,073 shares of the company’s stock, valued at $78,698,272.03. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $224.38, for a total value of $263,422.12. Following the transaction, the director now directly owns 13,011 shares in the company, valued at $2,919,408.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 17,160 shares of the company’s stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction of $5,973,567.60. Following the completion of the transaction, the chief executive officer now owns 226,073 shares in the company, valued at $78,698,272.03. The disclosure for this sale can be found here. Insiders have sold a total of 49,976 shares of company stock valued at $17,245,973 over the last three months. 3.60% of the stock is currently owned by insiders.
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.
Featured Stories
Before you consider MongoDB, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and MongoDB wasn’t on the list.
While MongoDB currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
Growth stocks offer a lot of bang for your buck, and we’ve got the next upcoming superstars to strongly consider for your portfolio.