Mirae Asset Global Investments Co. Ltd. raised its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 287.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 55,736 shares of the company’s stock after acquiring an additional 41,339 shares during the period. Mirae Asset Global Investments Co. Ltd. owned approximately 0.07% of MongoDB worth $13,130,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its position in MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after purchasing an additional 40 shares during the period. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after purchasing an additional 42 shares during the period. Tanager Wealth Management LLP grew its holdings in MongoDB by 4.7% during the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after purchasing an additional 43 shares in the last quarter. Rakuten Securities Inc. increased its stake in MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after buying an additional 47 shares during the period. Finally, Prime Capital Investment Advisors LLC lifted its holdings in MongoDB by 5.2% in the 3rd quarter. Prime Capital Investment Advisors LLC now owns 1,190 shares of the company’s stock worth $322,000 after buying an additional 59 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Stifel Nicolaus raised their target price on MongoDB from $325.00 to $360.00 and gave the company a “buy” rating in a research note on Monday, December 9th. DA Davidson raised their price objective on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Morgan Stanley upped their target price on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Scotiabank reduced their target price on MongoDB from $350.00 to $275.00 and set a “sector perform” rating for the company in a research note on Tuesday, January 21st. Finally, Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Check Out Our Latest Research Report on MDB

Insider Buying and Selling at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the transaction, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,491 shares of company stock valued at $11,543,480. Company insiders own 3.60% of the company’s stock.

MongoDB Trading Down 1.4 %

Shares of NASDAQ MDB opened at $278.10 on Friday. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62. The company has a market cap of $20.71 billion, a PE ratio of -101.50 and a beta of 1.28. The stock has a 50 day simple moving average of $268.90 and a 200-day simple moving average of $270.32.

MongoDB (NASDAQ:MDB – Get Free Report) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.96 EPS. Sell-side analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB Company Profile

(Free Report)

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.

Further Reading

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