HighTower Advisors LLC Increases Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

HighTower Advisors LLC increased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,773 shares of the company’s stock after buying an additional 372 shares during the quarter. HighTower Advisors LLC’s holdings in MongoDB were worth $4,371,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its stake in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the period. Raymond James Financial Inc. acquired a new position in MongoDB in the fourth quarter valued at $90,478,000. Amundi grew its position in MongoDB by 86.2% during the fourth quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after acquiring an additional 321,186 shares during the period. Assenagon Asset Management S.A. increased its stake in MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after acquiring an additional 294,228 shares during the last quarter. Finally, Avala Global LP purchased a new position in shares of MongoDB in the 3rd quarter worth about $47,960,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Up 0.7 %

Shares of NASDAQ MDB opened at $190.06 on Thursday. The stock has a market capitalization of $14.15 billion, a P/E ratio of -69.36 and a beta of 1.30. The stock’s 50 day moving average price is $253.21 and its two-hundred day moving average price is $270.89. MongoDB, Inc. has a 52-week low of $173.13 and a 52-week high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter last year, the business earned $0.86 earnings per share. On average, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the stock. Rosenblatt Securities reissued a “buy” rating and set a $350.00 target price on shares of MongoDB in a research report on Tuesday, March 4th. Loop Capital dropped their price objective on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Macquarie reduced their target price on shares of MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Robert W. Baird lowered their price target on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Needham & Company LLC reduced their price objective on MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $320.70.

Insider Activity

In related news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the transaction, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. The trade was a 0.27 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares of the company’s stock, valued at approximately $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 three months, insiders sold 43,139 shares of company stock valued at $11,328,869. Company insiders own 3.60% of the company’s stock.

About MongoDB

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.