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Cornerstone Wealth Management LLC acquired a new stake in shares of Mongodb Inc (NASDAQ:MDB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 19,262 shares of the company’s stock, valued at approximately $385,000.
Several other hedge funds and other institutional investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. acquired a new stake in Mongodb in the 1st quarter valued at approximately $177,000. Benjamin F. Edwards & Company Inc. grew its holdings in Mongodb by 36.1% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 4,050 shares of the company’s stock valued at $201,000 after buying an additional 1,075 shares during the last quarter. Schwab Charles Investment Management Inc. acquired a new stake in Mongodb in the 1st quarter valued at approximately $217,000. UBS Group AG grew its holdings in Mongodb by 267.4% in the 1st quarter. UBS Group AG now owns 5,052 shares of the company’s stock valued at $219,000 after buying an additional 3,677 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC acquired a new stake in Mongodb in the 1st quarter valued at approximately $264,000. 29.54% of the stock is currently owned by institutional investors and hedge funds.
In other news, CFO Michael Lawrence Gordon sold 721 shares of Mongodb stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $49.40, for a total transaction of $35,617.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 1,206 shares of Mongodb stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $49.40, for a total value of $59,576.40. The disclosure for this sale can be found here. Insiders have sold a total of 163,889 shares of company stock worth $9,336,588 in the last three months. 40.04% of the stock is owned by insiders.
A number of analysts have issued reports on MDB shares. ValuEngine raised Mongodb from a “hold” rating to a “buy” rating in a report on Wednesday, May 2nd. KeyCorp started coverage on Mongodb in a report on Monday, May 14th. They issued an “overweight” rating and a $50.00 target price on the stock. Needham & Company LLC raised their target price on Mongodb from $43.00 to $52.00 and gave the company a “buy” rating in a report on Monday, June 4th. Nomura raised their target price on Mongodb and gave the company a “neutral” rating in a report on Tuesday, June 5th. Finally, Morgan Stanley raised their target price on Mongodb from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Tuesday, June 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. Mongodb has an average rating of “Buy” and an average price target of $47.00.
Shares of NASDAQ:MDB opened at $63.10 on Friday. Mongodb Inc has a 1-year low of $24.62 and a 1-year high of $63.16. The company has a market cap of $3.05 billion and a PE ratio of -36.26.
Mongodb (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, June 6th. The company reported ($0.43) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.43). The firm had revenue of $48.20 million for the quarter, compared to analyst estimates of $46.46 million. Mongodb’s revenue was up 48.8% on a year-over-year basis. research analysts expect that Mongodb Inc will post -2.22 earnings per share for the current fiscal year.
MongoDB, Inc engages in the development and provision of a general purpose database platform. Its products include MongoDB Enterprise Advanced, MongoDB Professional, Development Support, Ops and Cloud Manager. The company was founded by Eliot Horowitz, Dwight A. Merriman, Kevin P. Ryan and Geir Magnusson Jr.
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