PNC Financial Services Group Inc. Purchases 435 Shares of MongoDB, Inc. (NASDAQ:MDB)

PNC Financial Services Group Inc. raised its position in MongoDB, Inc. (NASDAQ:MDB) by 22.5% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,367 shares of the company’s stock after buying an additional 435 shares during the period. PNC Financial Services Group Inc.’s holdings in MongoDB were worth $415,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in MDB. Cloud Capital Management LLC acquired a new position in shares of MongoDB in the 1st quarter valued at $25,000. Hollencrest Capital Management acquired a new position in shares of MongoDB in the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB in the 4th quarter valued at $29,000. Finally, Coppell Advisory Solutions LLC lifted its stake in shares of MongoDB by 364.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock valued at $54,000 after purchasing an additional 182 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $204.37 on Friday. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The stock has a market capitalization of $16.70 billion, a price-to-earnings ratio of -179.27 and a beta of 1.44. The business has a 50-day moving average of $215.43 and a 200-day moving average of $209.99.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. The business had revenue of $549.01 million during the quarter, compared to analysts’ expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB’s quarterly revenue was up 21.8% on a year-over-year basis. During the same quarter last year, the company posted $0.51 earnings per share. On average, sell-side analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction that occurred on Friday, July 25th. The shares were sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the sale, the director directly owned 1,104,316 shares in the company, valued at approximately $270,557,420. The trade was a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director owned 21,096 shares of the company’s stock, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 51,416 shares of company stock worth $11,936,656 over the last three months. Insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Bank of America increased their price target on MongoDB from $215.00 to $275.00 and gave the company a “buy” rating in a research note on Thursday, June 5th. Rosenblatt Securities dropped their price objective on MongoDB from $305.00 to $290.00 and set a “buy” rating on the stock in a research note on Thursday, June 5th. UBS Group raised their price objective on MongoDB from $213.00 to $240.00 and gave the stock a “neutral” rating in a research note on Thursday, June 5th. Macquarie reaffirmed a “neutral” rating and set a $230.00 price objective (up previously from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Finally, Cantor Fitzgerald raised their price objective on MongoDB from $252.00 to $271.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $281.31.

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.