Stanley Laman Group Ltd. lifted its position in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 10.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,767 shares of the company’s stock after purchasing an additional 3,466 shares during the period. MongoDB comprises about 1.0% of Stanley Laman Group Ltd.’s portfolio, making the stock its 16th biggest holding. Stanley Laman Group Ltd.’s holdings in MongoDB were worth $6,274,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after buying an additional 23,942 shares in the last quarter. Franklin Resources Inc. increased 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 acquiring an additional 181,962 shares in the last quarter. Geode Capital Management LLC increased its holdings in MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock worth $290,987,000 after acquiring an additional 22,106 shares in the last quarter. First Trust Advisors LP raised its position in MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after acquiring an additional 95,893 shares during the period. Finally, Norges Bank purchased a new position in MongoDB during the fourth quarter valued at $189,584,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on MDB. Barclays upped their price target on shares of MongoDB from $252.00 to $270.00 and gave the stock an “overweight” rating in a research report on Thursday, June 5th. Canaccord Genuity Group decreased their target price on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Royal Bank of Canada reiterated an “outperform” rating and set a $320.00 price target on shares of MongoDB in a research report on Thursday, June 5th. JMP Securities restated a “market outperform” rating and issued a $345.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 target price on shares of MongoDB in a report on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $282.47.

Check Out Our Latest Research Report on MongoDB

MongoDB Price Performance

Shares of MongoDB stock opened at $210.66 on Friday. The stock has a market capitalization of $17.10 billion, a price-to-earnings ratio of -76.88 and a beta of 1.39. The business has a 50-day moving average of $179.38 and a 200 day moving average of $227.94. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00.

MongoDB (NASDAQ:MDB – Get Free Report) last posted its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue for the quarter was up 21.8% compared to the same quarter last year. Equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity

In related news, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares in the company, valued at $9,985,666.84. The trade was a 2.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the sale, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 49,208 shares of company stock worth $10,167,739. Corporate insiders own 3.10% of the company’s stock.

About MongoDB

(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.

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