Janney Montgomery Scott LLC Buys Shares of 2612 MongoDB, Inc. (NASDAQ:MDB)

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Janney Montgomery Scott LLC Buys Shares of 2612 MongoDB, Inc. (NASDAQ:MDB)

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Janney Montgomery Scott LLC bought a new position in MongoDB, Inc. (NASDAQ:MDB – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,612 shares of the company’s stock, valued at approximately $458,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Vanguard Group Inc. boosted its stake in shares of MongoDB by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after acquiring an additional 23,942 shares in the last quarter. Franklin Resources Inc. lifted its holdings in MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC boosted its position in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock worth $290,987,000 after purchasing an additional 22,106 shares during the period. First Trust Advisors LP grew its holdings in MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares during the last quarter. Finally, Norges Bank bought a new position in shares of MongoDB in the fourth quarter valued at approximately $189,584,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on MDB. Macquarie reaffirmed a “neutral” rating and set a $230.00 price objective (up from $215.00) on shares of MongoDB in a report on Friday, June 6th. DA Davidson restated a “buy” rating and set a $275.00 price target on shares of MongoDB in a report on Thursday, June 5th. UBS Group raised their price target on MongoDB from $213.00 to $240.00 and gave the company a “neutral” rating in a research report on Thursday, June 5th. Royal Bank Of Canada reissued an “outperform” rating and set a $320.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Finally, Oppenheimer decreased their target price on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-five have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and a consensus target price of $282.47.

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Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director owned 21,096 shares of the company’s stock, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 25,005 shares of the firm’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,999 shares of company stock worth $6,728,127 over the last ninety days. Company insiders own 3.10% of the company’s stock.

MongoDB Stock Performance

NASDAQ MDB opened at $211.05 on Friday. The stock has a market capitalization of $17.24 billion, a P/E ratio of -185.13 and a beta of 1.41. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00. The stock has a fifty day moving average of $194.66 and a 200-day moving average of $215.72.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $549.01 million for the quarter, compared to analysts’ expectations of $527.49 million. During the same quarter last year, the business earned $0.51 earnings per share. The firm’s quarterly revenue was up 21.8% compared to the same quarter last year. Equities research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB Profile

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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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