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Covea Finance raised its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 72.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,400 shares of the company’s stock after buying an additional 11,900 shares during the quarter. Covea Finance’s holdings in MongoDB were worth $4,981,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in MDB. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB during the fourth quarter worth about $29,000. NCP Inc. bought a new stake in MongoDB during the fourth quarter worth about $35,000. Coppell Advisory Solutions LLC lifted its stake in MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after purchasing an additional 182 shares during the last quarter. Smartleaf Asset Management LLC lifted its stake in MongoDB by 56.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock worth $87,000 after purchasing an additional 134 shares during the last quarter. Finally, J.Safra Asset Management Corp lifted its stake in MongoDB by 72.0% during the fourth quarter. J.Safra Asset Management Corp now owns 387 shares of the company’s stock worth $91,000 after purchasing an additional 162 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.
MongoDB Stock Down 1.3%
Shares of NASDAQ:MDB traded down $2.65 during trading on Friday, hitting $201.50. The stock had a trading volume of 3,609,482 shares, compared to its average volume of 1,967,052. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The company has a market capitalization of $16.46 billion, a PE ratio of -176.75 and a beta of 1.39. The firm’s fifty day moving average is $185.18 and its 200 day moving average is $222.83.
MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter last year, the company earned $0.51 EPS. The firm’s revenue for the quarter was up 21.8% on a year-over-year basis. Equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.
Insider Activity at MongoDB
In other MongoDB news, insider Cedric Pech sold 1,690 shares of the stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the sale, the insider now directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total value of $205,260.75. Following the sale, the director now owns 19,333 shares in the company, valued at approximately $3,377,281.77. This represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,382 shares of company stock valued at $10,403,807 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.
Wall Street Analysts Forecast Growth
MDB has been the subject of several research analyst reports. Mizuho dropped their price target on MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. The Goldman Sachs Group dropped their price target on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Barclays lifted their price target on MongoDB from $252.00 to $270.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Redburn Atlantic upgraded MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price for the company in a report on Thursday, April 17th. Finally, Loop Capital cut MongoDB from a “buy” rating to a “hold” rating and dropped their target price for the company from $350.00 to $190.00 in a report on Tuesday, May 20th. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $282.47.
Get Our Latest Stock Report on MDB
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.
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