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Bridgewater Advisors Inc. acquired a new stake in MongoDB, Inc. (NASDAQ:MDB – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,158 shares of the company’s stock, valued at approximately $202,000.
A number of other institutional investors have also modified their holdings of the company. Wealthfront Advisers LLC lifted its holdings in shares of MongoDB by 4.1% during the 1st quarter. Wealthfront Advisers LLC now owns 4,511 shares of the company’s stock valued at $791,000 after acquiring an additional 179 shares in the last quarter. Massachusetts Financial Services Co. MA purchased a new position in MongoDB in the first quarter valued at about $14,376,000. OVERSEA CHINESE BANKING Corp Ltd lifted its stake in shares of MongoDB by 14.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 19,206 shares of the company’s stock worth $3,369,000 after purchasing an additional 2,371 shares in the last quarter. Signaturefd LLC grew its stake in shares of MongoDB by 24.1% in the first quarter. Signaturefd LLC now owns 1,754 shares of the company’s stock valued at $308,000 after buying an additional 341 shares in the last quarter. Finally, UNICOM Systems Inc. raised its holdings in shares of MongoDB by 116.7% during the 1st quarter. UNICOM Systems Inc. now owns 45,500 shares of the company’s stock valued at $7,981,000 after buying an additional 24,500 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have weighed in on MDB shares. Needham & Company LLC restated a “buy” rating and issued a $270.00 price target on shares of MongoDB in a report on Thursday, June 5th. Royal Bank Of Canada reaffirmed an “outperform” rating and set a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th. Piper Sandler lifted their price target on shares of MongoDB from $200.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Stephens started coverage on shares of MongoDB in a report on Friday. They issued an “equal weight” rating and a $247.00 price objective on the stock. Finally, Truist Financial lowered their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research note on Monday, March 31st. Nine analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $281.35.
Get Our Latest Research Report on MongoDB
MongoDB Trading Up 1.2%
NASDAQ:MDB traded up $2.68 during midday trading on Friday, reaching $221.21. 1,822,164 shares of the company traded hands, compared to its average volume of 1,984,265. The company has a fifty day moving average price of $202.71 and a 200 day moving average price of $213.18. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The company’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.
Insider Buying and Selling at MongoDB
In other 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 completion of the transaction, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 3,747 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the completion of the transaction, the chief executive officer directly owned 253,227 shares of the company’s stock, valued at $52,177,423.35. This trade represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,746 shares of company stock worth $7,500,196. 3.10% of the stock is owned by company insiders.
About MongoDB
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.
Further Reading
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