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Canada-based asset management firm Fiera Capital Corp has recently increased its stake in MongoDB, Inc. by an impressive 40.3%. This move signifies Fiera’s continued confidence in the company’s prospects and adds to its already substantial investment portfolio. As of its most recent disclosure with the U.S. Securities and Exchange Commission (SEC), Fiera Capital Corp owned approximately 0.32% of MongoDB, with a total value of $51,779,000.

MongoDB, Inc. is a global provider of a general-purpose database platform that caters to various industries worldwide. The company offers a range of solutions, including MongoDB Atlas, which is a multi-cloud database-as-a-service solution hosted by MongoDB; MongoDB Enterprise Advanced, a commercial database server designed for enterprise customers to use in cloud environments, on-premises setups, or hybrid configurations; and Community Server, a free downloadable version of its database that includes all the essential features developers need to get started.

In another development related to the company’s leadership team, CRO Cedric Pech recently sold 360 shares of MongoDB stock in a transaction dated July 3rd. The shares were sold at an average price of $406.79 each, amounting to a total value of $146,444.40. Following this sale, Pech now owns 37,156 shares directly in the company’s stock with an estimated value of $15,114,689.24.

Additionally, CEO Dev Ittycheria sold 50,000 shares of MongoDB stock on July 5th at an average price of $407.07 per share for a total value of $20,353,500.00. As a result of this transaction’s completion, Ittycheria currently holds 218,085 shares valued at approximately $88,775,860.95.

These insider transactions were disclosed through filings submitted to the SEC and can be accessed through the commission’s official website. Such disclosures reflect transparency and regulatory compliance from the company and its executives.

It is worth noting that Pech also sold 360 shares of MongoDB stock on July 3rd, matching the same details as mentioned earlier in this article. With these combined sales, insiders have sold a total of 116,821 shares in the last three months, representing roughly $41,133,220 in company stock. Approximately 4.80% of MongoDB’s stock is now owned by insiders.

These recent developments within Fiera Capital Corp’s increased stake and executive selling activity at MongoDB shed light on the market sentiments surrounding the company. While Fiera continues to demonstrate confidence in its investment decision through increased ownership, the insider sales may indicate various factors such as financial planning or personal investment strategies.

Investors should consider these activities alongside other fundamental and technical aspects before making any investment decisions regarding MongoDB. It is essential to conduct thorough research and analyze various factors that could impact a company’s performance before committing capital.

As of July 11, 2023, this information provides insight into recent events related to Fiera Capital Corp’s stake increase in MongoDB and notable insider selling transactions within the company. These events contribute to our understanding of current market dynamics surrounding this technology-driven database platform provider.

MongoDB, Inc. Attracts Institutional Investors and Hedge Funds with Strong Performance

Institutional investors and hedge funds have been actively engaging in the buying and selling of shares belonging to MongoDB, Inc. Valley National Advisers Inc. is one such firm that increased its position in MongoDB by 37.2% during the first quarter. As a result, they now own 568 shares worth $127,000 after acquiring an additional 154 shares in the last quarter.

Xcel Wealth Management LLC also saw an increase in their stake in MongoDB by 1.3% during the first quarter. They currently own 5,988 shares worth $1,396,000 after acquiring 79 additional shares in the last quarter. Taylor Frigon Capital Management LLC increased their position by 32.1% during the same period and now own 12,874 shares valued at $3,001,000 after purchasing an additional 3,126 shares.

Parallel Advisors LLC witnessed a rise of 13.4% in their holdings during the first quarter as well. They now possess 1,338 shares worth $312,000 after obtaining an additional 158 shares.

There was also notable activity from SeaTown Holdings Pte. Ltd., who acquired a new position in MongoDB during the first quarter with a purchase worth approximately $5,828,000.

It is interesting to note that hedge funds and other institutional investors hold a significant portion (89.22%) of MongoDB’s stock.

Several reputable brokerages have recently presented their opinions on MDB (MongoDB’s stock ticker). Needham & Company LLC released a research report on June 2nd indicating that they had raised their price objective from $250 to $430 for MDB’s stock.

Morgan Stanley also modified their price objective from $270 to $440 for MDB’s stock on June 23rd.

JMP Securities adjusted their price target for MongoDB from $245 to $370 on June 2nd as well.

Capital One Financial initiated coverage on MDB on June 26th, giving the stock an “equal weight” rating and setting a price objective of $396.00.

VNET Group reiterated their “maintains” rating on MongoDB’s shares in a report also released on June 26th.

The consensus opinion reflects a “Moderate Buy” rating for MongoDB according to Bloomberg.com, with an average price target of $366.30 set by various analysts.

MongoDB, Inc. operates as a global provider of general-purpose database platforms. The company’s offerings include MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server that serves enterprise customers across cloud platforms, on-premises setups, or hybrid environments; and Community Server, which is a free-to-download version of the database offering developers the necessary functionality to get started with MongoDB.

On Tuesday, NASDAQ opened MDB at $394.62. The stock has been experiencing growth as indicated by its 50-day moving average price of $333.01 and two-hundred-day moving average price of $254.67.

Over the past year, MDB has seen its stock fluctuate between a low of $135.15 and a high of $418.70. Currently, the company holds a market capitalization worth $27.85 billion with a PE ratio of -84.50 and beta value of 1.13.

In terms of liquidity ratios, MongoDB stands at a quick ratio and current ratio both equal to 4.19 which indicates strong liquidity measures for the company when compared to its short-term liabilities represented by the quick ratio and total liabilities depicted in current ratio respectively.

Regarding its financial performance during its most recent reporting period ending on June 1st, MongoDB reported EPS (earnings per share) amounting to $0.56 which exceeded market expectations by $0.38 from initial consensus estimates standing at $0.18 per share. Moreover, MongoDB’s quarterly revenue equated to $368.28 million surpassing analysts’ estimates of $347.77 million.

Despite a negative net margin of 23.58% and a negative return on equity of 43.25%, MongoDB has shown promising growth with its quarterly revenue up by 29.0% year-over-year.

In the prior year, MongoDB reported ($1.15) earnings per share for the same period, indicating significant improvement in its financial performance.

Equity analysts forecast that MongoDB, Inc. will deliver -2.8 earnings per share for the ongoing fiscal year based on their group analysis.

Overall, MongoDB has been receiving considerable attention from institutional investors and hedge funds due to its strong performance in the market. With positive reviews from reputable brokerages and analysts, coupled with impressive financial results, it appears that MongoDB is poised to continue its upward trajectory as a prominent player in the database industry.

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