Appleton Partners Inc. MA Acquires Stake in MongoDB, Inc. amidst Insider Trading Activity
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Appleton Partners Inc. MA, a financial services company, recently announced its acquisition of a new stake in MongoDB, Inc. during the 2nd quarter, as stated in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm obtained 712 shares of MongoDB’s stock, valued at approximately $293,000.
MongoDB, Inc. operates globally as a provider of a general-purpose database platform. The company’s offerings include MongoDB Atlas, which is a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server designed for enterprise customers to run in various environments such as the cloud, on-premise, or in a hybrid setup; and Community Server, which is a free-to-download version of its database that comes equipped with all the necessary features developers need to get started with MongoDB.
In related news related to insider trading activities within the company, Director Dwight A. Merriman sold 1,000 shares on Tuesday, July 18th at an average price of $420.00 per share, resulting in a total transaction value of $420,000.00. Following this sale, Merriman now possesses 1,213,159 shares of MongoDB’s stock with an estimated value of $509,526,780. All transactions made by Merriman were disclosed in legal filings with the SEC and can be accessed through their official website.
Furthermore, on Friday, August 4th Merriman sold an additional 6,000 shares at an average price of $415.06 per share for a total transaction value of $2,490.360.00. As of now following this latest sale by Merriman., he currently holds approximately 1,207,,159 shares valued at around $501,,043,,414..54 according to the available disclosure.
Throughout the last quarter,. Insiders have sold off Company stocks amounting to almosts97,,520 shares valued at approximatelys39,,180,574. Company insiders now cumulatively ownss4.80% of the company’s stock.
This recent acquisition by Appleton Partners Inc. MA and the insider trading activities within MongoDB, Inc. shed light on the ongoing developments and investments made in the company. By delving into these transactions, investors can better understand the dynamics and potential outlook for the future growth of MongoDB, Inc. It will be interesting to see how these events impact the company’s performance in the upcoming months.
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Updated on: 18/09/2023
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MongoDB Inc. Gains Momentum with Institutional Investor Interest and Positive Analyst Outlook
MongoDB, Inc. is a global provider of a general-purpose database platform. The company offers various solutions including MongoDB Atlas, MongoDB Enterprise Advanced, and Community Server. These offerings cater to enterprise customers, developers, and individuals who require reliable and efficient database solutions.
In recent months, several hedge funds have shown interest in MongoDB’s stock. Raymond James & Associates increased its holdings in the company by 32.0% during the first quarter, bringing its total ownership to 4,922 shares valued at $2,183,000. PNC Financial Services Group Inc. also boosted its holdings by 19.1%, acquiring an additional 206 shares worth $569,000.
MetLife Investment Management LLC joined the list of institutional investors purchasing MongoDB stock during the same period with a stake worth $1,823,000. Panagora Asset Management Inc., on the other hand, witnessed a 9.8% increase in its holdings by adding another 176 shares valued at $877,000.
Vontobel Holding Ltd., demonstrating considerable confidence in MongoDB’s potential, grew its position by an impressive 100.3% during the first quarter. This brought their total ownership to 2,873 shares worth $1,236,000. It is notable that institutional investors own approximately 88.89% of the company’s stock.
As of September 17th, MongoDB’s stock opened at $362.13 per share. Over the past year,the stock has seen a low of $135.15 and a high of $439.00 per share.The fifty-day moving average stands at$385.82 whilethe two-hundred day moving average was recorded as$316.l8.The company’s market capitalization currently stands at $25.84 billion witha price-to-earnings ratio of -104-66 and beta value of1.ll.Additionally,MongoDBhasa current ratioof4^48and a quick ratioof4.48indicatinga strong positionto meet its short-termobligations.Furthermore, the company hasa debt-to-equityratio of1,29.
Over the past months,several analysts have expressed their opinions on MongoDB’s stock. Argus raised their price target from$435.00 to $484.00 and assigned a “buy” rating to the company. Similarly, Macquarieincreasedtheir price targetfrom $434.00 to $456.00, while The Goldman Sachs Group raised theirsfrom $420.00 to $440.O0.Canaccord Genuity Grouphas alsoupped their target price from $410.OOto$450.OOandgave MongoDB a “buy” rating.Additionally,TruestFinancialincreasedtheirdprice target from$4 20.OOto$430.OOwitha “buy”rating.
Despite one analyst giving a sell recommendation, the majority of analysts hold a positive outlook on MongoDB’s future prospects.According to Bloomberg data,the average consensus rating for the stock is currently “Moderate Buy,” with an average target price of $418.08.
Overall,MongoDB Inc.’s recent performance and growing interest from institutional investors signalitspotential for strong growth in the datab
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