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DnB Asset Management AS boosted its position in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 5.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,680 shares of the company’s stock after acquiring an additional 522 shares during the quarter. DnB Asset Management AS’s holdings in MongoDB were worth $4,389,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in MDB. 1832 Asset Management L.P. raised its holdings in MongoDB by 3,283,771.0% in the fourth quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock valued at $200,383,000 after acquiring an additional 1,017,969 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in MongoDB by 13.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock valued at $1,770,313,000 after purchasing an additional 897,911 shares during the last quarter. Renaissance Technologies LLC increased its stake in MongoDB by 493.2% in the fourth quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after purchasing an additional 763,400 shares during the last quarter. Norges Bank purchased a new position in MongoDB in the fourth quarter valued at approximately $147,735,000. Finally, Champlain Investment Partners LLC purchased a new position in MongoDB in the first quarter valued at approximately $89,157,000. Institutional investors and hedge funds own 88.89% of the company’s stock.
Insider Buying and Selling
In related news, CEO Dev Ittycheria sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $407.07, for a total value of $20,353,500.00. Following the sale, the chief executive officer now directly owns 218,085 shares in the company, valued at approximately $88,775,860.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Dev Ittycheria sold 50,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $407.07, for a total value of $20,353,500.00. Following the completion of the transaction, the chief executive officer now owns 218,085 shares of the company’s stock, valued at approximately $88,775,860.95. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CTO Mark Porter sold 2,734 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $412.33, for a total transaction of $1,127,310.22. Following the completion of the transaction, the chief technology officer now directly owns 35,056 shares of the company’s stock, valued at approximately $14,454,640.48. The disclosure for this sale can be found here. Insiders have sold 97,520 shares of company stock worth $39,180,574 in the last three months. Corporate insiders own 4.80% of the company’s stock.
MongoDB Price Performance
MongoDB stock opened at $362.13 on Monday. MongoDB, Inc. has a 52 week low of $135.15 and a 52 week high of $439.00. The company has a quick ratio of 4.48, a current ratio of 4.48 and a debt-to-equity ratio of 1.29. The firm’s 50-day simple moving average is $385.82 and its 200 day simple moving average is $316.93. The firm has a market capitalization of $25.84 billion, a PE ratio of -104.66 and a beta of 1.11.
Analysts Set New Price Targets
Several brokerages have commented on MDB. Citigroup increased their price target on shares of MongoDB from $430.00 to $455.00 and gave the company a “buy” rating in a research note on Monday, August 28th. VNET Group restated a “maintains” rating on shares of MongoDB in a research report on Monday, June 26th. Oppenheimer raised their target price on shares of MongoDB from $430.00 to $480.00 and gave the stock an “outperform” rating in a research report on Friday, September 1st. The Goldman Sachs Group raised their target price on shares of MongoDB from $420.00 to $440.00 in a research report on Friday, June 23rd. Finally, JMP Securities raised their target price on shares of MongoDB from $425.00 to $440.00 and gave the stock a “market outperform” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $418.08.
MongoDB Company Profile
MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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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