Envestnet Asset Management Inc. Buys 39,311 Shares of MongoDB, Inc. (NASDAQ:MDB)

Envestnet Asset Management Inc. increased its stake in MongoDB, Inc. (NASDAQ:MDB) by 44.6% during the first quarter, Holdings Channel.com reports. The fund owned 127,425 shares of the company’s stock after buying an additional 39,311 shares during the period. Envestnet Asset Management Inc.’s holdings in MongoDB were worth $22,350,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Strategic Investment Solutions Inc. IL bought a new position in shares of MongoDB in the 4th quarter worth about $29,000. Cloud Capital Management LLC bought a new position in shares of MongoDB in the 1st quarter worth about $25,000. Coppell Advisory Solutions LLC raised its position in shares of MongoDB by 364.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after acquiring an additional 182 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of MongoDB in the 4th quarter worth about $97,000. Finally, Fifth Third Bancorp raised its position in shares of MongoDB by 15.9% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company’s stock worth $100,000 after acquiring an additional 78 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Up 3.5%

NASDAQ MDB opened at $208.66 on Wednesday. The stock’s 50-day simple moving average is $200.37 and its two-hundred day simple moving average is $213.39. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The company has a market capitalization of $17.05 billion, a price-to-earnings ratio of -183.04 and a beta of 1.41.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $527.49 million. During the same quarter last year, the business posted $0.51 earnings per share. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDB has been the subject of several research analyst reports. Scotiabank lifted their price objective on MongoDB from $160.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. Mizuho lowered their price objective on MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Guggenheim lifted their price objective on MongoDB from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. William Blair reaffirmed an “outperform” rating on shares of MongoDB in a research report on Thursday, June 26th. Finally, Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $320.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $282.39.

Insider Activity

In other news, Director Hope F. Cochran sold 1,174 shares of the firm’s stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director directly owned 21,096 shares of the company’s stock, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 25,005 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the transaction, the chief executive officer directly owned 256,974 shares in the company, valued at $60,131,916. This trade represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 32,746 shares of company stock valued at $7,500,196. 3.10% of the stock is currently owned by insiders.

MongoDB Profile

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.