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On September 7, 2023, it was reported that Independent Advisor Alliance has acquired a new position in MongoDB, Inc. (NASDAQ:MDB) during the first quarter of the year. According to the company’s filing with the Securities & Exchange Commission, Independent Advisor Alliance purchased 1,224 shares of MongoDB stock, with an estimated value of approximately $285,000.
MongoDB, Inc. is a global provider of a general-purpose database platform. The company offers various solutions to meet the needs of its clients. One of its key offerings is MongoDB Atlas, a hosted multi-cloud database-as-a-service solution. This platform allows businesses to easily manage and scale their databases across multiple cloud environments.
Additionally, MongoDB provides MongoDB Enterprise Advanced, a commercial database server designed for enterprise customers. This solution enables organizations to run their databases either in the cloud or on-premise, or even utilize a hybrid approach combining both environments.
In order to cater to developers and small-scale projects, MongoDB also offers Community Server, which is a free-to-download version of its database software. This version includes all necessary functionalities required by developers who are starting with MongoDB.
The acquisition by Independent Advisor Alliance indicates growing interest in MongoDB from investment professionals. It highlights confidence in the company’s potential for growth and success within the database industry.
As with any stock analysis, it is important for investors to consider various factors and conduct thorough research before making any investment decisions regarding MDB or any other stock in their portfolio.
Updated on: 08/09/2023
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Recent Institutional Activity and Analyst Ratings Highlight MongoDB, Inc.’s Position in the Database Platform Market
MongoDB, Inc., a global provider of general-purpose database platforms, has recently attracted the attention of several institutional investors and hedge funds. These investors have either increased or decreased their stakes in MDB, indicating the varying opinions surrounding the company’s stock.
Cherry Creek Investment Advisors Inc. witnessed a slight increase in its holdings of MongoDB by 1.5% during the fourth quarter, resulting in ownership of 3,283 shares valued at $646,000 after purchasing an additional 50 shares. Similarly, CWM LLC experienced a 2.4% increase in its holdings during the first quarter and now possesses 2,235 shares valued at $521,000 after acquiring an additional 52 shares in the previous quarter.
Cetera Advisor Networks LLC also demonstrated its confidence in MongoDB by increasing its holdings by 7.4% during the second quarter. The firm now holds 860 shares worth $223,000 after purchasing an additional 59 shares. First Republic Investment Management Inc., on the other hand, saw a marginal increase of 1.0% during the fourth quarter and currently owns 6,406 shares valued at $1,261,000 after acquiring an additional 61 shares.
Finally, New York Life Investment Management LLC boosted its holdings by 5.5% during the fourth quarter, leaving them with a total of 1,358 shares valued at $267,000 after purchasing an additional 71 shares.
It is important to note that despite these recent movements from institutional investors and hedge funds, they still only own approximately 88.89% of MDB’s overall stock.
Furthermore, MDB has gained significant attention from analysts who have released recent reports about the company’s performance and prospects. Among these analysts is 58.com which reiterated their “maintains” rating on MongoDB’s stock on June 26th. Robert W. Baird increased their target price for MDB from $390 to $430, while UBS Group raised their own target price from $425 to $465 and assigned a “buy” rating. JMP Securities also increased their target price from $425 to $440 and designated MongoDB as a “market outperform.” Lastly, Truist Financial raised its stock’s price target from $420 to $430, supporting a positive outlook for the company.
With one analyst giving MDB a sell rating, three maintaining a hold rating, and twenty-one recommending it as a buy, Bloomberg.com has reported an average rating of “Moderate Buy” for MongoDB. Additionally, the average target price is estimated at around $418.08.
MongoDB, Inc. primarily offers three services: MongoDB Atlas, which is a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server suitable for hybrid or cloud environments; and Community Server – free software designed to assist developers in getting started with the MongoDB platform.
In recent news related to the company’s internal affairs, Director Dwight A. Merriman sold 6,000 shares of MDB stock on September 5th at an average price of $389.50 per share amounting to a total value of $2,337,000. Following this sale, Merriman now owns 1,201,159 shares valued at approximately $467,851,430.50.
Another significant transaction involved CEO Dev Ittycheria selling 50,000 shares on July 5th at an average price of $407.07 per share worth about $20,353,500. Currently holding 218,085 shares equivalent to around $88,775,860.95 in value.
Notably for investors interested in transparency and accountability within large corporations like MongoDB Inc., these transactions were duly filed with the Securities and Exchange Commission (SEC).
This disclosure reflects that insiders have altogether sold approximately 83,551 shares valued at an impressive sum of $33,875,952 within the last three months. As of now, insiders have ownership of approximately 4.80% of the company’s stock.
On Thursday, MDB stock opened at $382.26 per share. The company’s fifty-day moving average price stands at $390.04 while the 200-day moving average price is $308.14.
With a debt-to-equity ratio of 1.29 and quick and current ratios of 4.19 and 4.48 respectively, MongoDB seems to be in a stable financial position. Its stock has reached a twelve-month high of $439 and a low of $135.15.
Overall, MongoDB, Inc.’s recent performance in terms of investor interest, analyst ratings, internal activities, and stock value highlights its significance as a player in the general-purpose database platform market worldwide.