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Envestnet Asset Management Inc. grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 44.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 127,425 shares of the company’s stock after buying an additional 39,311 shares during the period. Envestnet Asset Management Inc. owned 0.16% of MongoDB worth $22,350,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently bought and sold shares of the business. Penserra Capital Management LLC increased its position in shares of MongoDB by 47.5% during the first quarter. Penserra Capital Management LLC now owns 69,890 shares of the company’s stock worth $12,257,000 after purchasing an additional 22,496 shares in the last quarter. Cloud Capital Management LLC acquired a new stake in shares of MongoDB during the first quarter worth about $25,000. Harel Insurance Investments & Financial Services Ltd. increased its position in shares of MongoDB by 6,108.2% during the first quarter. Harel Insurance Investments & Financial Services Ltd. now owns 3,042 shares of the company’s stock worth $534,000 after purchasing an additional 2,993 shares in the last quarter. IFM Investors Pty Ltd increased its position in shares of MongoDB by 8.3% during the first quarter. IFM Investors Pty Ltd now owns 14,325 shares of the company’s stock worth $2,513,000 after purchasing an additional 1,098 shares in the last quarter. Finally, GF Fund Management CO. LTD. increased its position in shares of MongoDB by 1.9% during the first quarter. GF Fund Management CO. LTD. now owns 14,261 shares of the company’s stock worth $2,501,000 after purchasing an additional 261 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.
Insider Transactions at MongoDB
In other news, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction 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 sale, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 820 shares of the company’s stock in a transaction on Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total value of $172,888.80. Following the sale, the director owned 1,106,186 shares of the company’s stock, valued at approximately $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 32,746 shares of company stock worth $7,500,196 in the last ninety days. Insiders own 3.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on MDB. Scotiabank boosted their price target on MongoDB from $160.00 to $230.00 and gave the company a “sector perform” rating in a research report on Thursday, June 5th. Macquarie reaffirmed a “neutral” rating and issued a $230.00 price objective (up previously from $215.00) on shares of MongoDB in a report on Friday, June 6th. Bank of America boosted their price target on MongoDB from $215.00 to $275.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. Rosenblatt Securities decreased their price target on MongoDB from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, June 5th. Finally, Loop Capital lowered MongoDB from a “buy” rating to a “hold” rating and decreased their price target for the stock from $350.00 to $190.00 in a research note on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $282.39.
Get Our Latest Analysis on MDB
MongoDB Trading Up 0.5%
Shares of MongoDB stock traded up $0.98 during trading hours on Wednesday, reaching $209.64. 1,597,285 shares of the company’s stock were exchanged, compared to its average volume of 1,978,344. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $370.00. The firm has a market capitalization of $17.13 billion, a price-to-earnings ratio of -183.89 and a beta of 1.41. The company has a fifty day moving average of $200.37 and a 200-day moving average of $213.39.
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. On average, equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.
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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