Private Advisor Group LLC Raises Position in MongoDB, Inc. (NASDAQ:MDB)

Private Advisor Group LLC lifted its holdings in MongoDB, Inc. (NASDAQ:MDB) by 21.1% in the fourth quarter, Holdings Channel reports. The firm owned 9,256 shares of the company’s stock after buying an additional 1,613 shares during the period. Private Advisor Group LLC’s holdings in MongoDB were worth $2,155,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its stake in 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 purchasing an additional 592,038 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after buying an additional 294,228 shares during the last quarter. Avala Global LP acquired a new position in shares of MongoDB in the 3rd quarter valued at $47,960,000. Eagle Asset Management Inc. purchased a new position in MongoDB in the 3rd quarter worth $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in MongoDB during the 3rd quarter worth about $25,636,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Needham & Company LLC upped their target price on MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Robert W. Baird increased their price target on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. Canaccord Genuity Group lifted their price objective on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. JMP Securities reissued a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research note on Wednesday, December 11th. Finally, Tigress Financial raised their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the sale, the director now owns 83,845 shares of the company’s stock, valued at approximately $24,486,932.25. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value 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. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 41,979 shares of company stock worth $11,265,417 in the last quarter. Company insiders own 3.60% of the company’s stock.

MongoDB Price Performance

MDB opened at $259.71 on Wednesday. The firm has a market capitalization of $19.34 billion, a price-to-earnings ratio of -94.78 and a beta of 1.28. The company’s 50 day simple moving average is $261.74 and its two-hundred day simple moving average is $274.54. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $459.27.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate 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 revenue was up 22.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 earnings per share. On average, equities analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB Company 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.