Sunbelt Securities Inc. Raises Position in MongoDB, Inc. (NASDAQ:MDB)

Sunbelt Securities Inc. grew its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 155.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 125 shares of the company’s stock after buying an additional 76 shares during the quarter. Sunbelt Securities Inc.’s holdings in MongoDB were worth $45,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in MDB. Norges Bank purchased a new position in MongoDB in the fourth quarter worth about $326,237,000. Axiom Investors LLC DE bought a new position in MongoDB in the fourth quarter worth approximately $153,990,000. Clearbridge Investments LLC boosted its stake in shares of MongoDB by 10,827.8% during the 4th quarter. Clearbridge Investments LLC now owns 212,983 shares of the company’s stock worth $87,078,000 after acquiring an additional 211,034 shares during the last quarter. First Trust Advisors LP increased its stake in shares of MongoDB by 59.3% in the 4th quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after purchasing an additional 204,284 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in MongoDB by 2.9% in the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after purchasing an additional 194,148 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent research reports. Mizuho decreased their price objective on MongoDB from $380.00 to $250.00 and set a “neutral” rating on the stock in a research note on Friday, May 31st. Truist Financial reduced their price objective on shares of MongoDB from $475.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, May 31st. Wells Fargo & Company lowered their target price on shares of MongoDB from $450.00 to $300.00 and set an “overweight” rating on the stock in a research note on Friday, May 31st. DA Davidson raised MongoDB from a “hold” rating to a “strong-buy” rating in a report on Friday, May 31st. Finally, Canaccord Genuity Group cut their target price on MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a research report on Friday, May 31st. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $361.30.

MongoDB Trading Up 2.4 %

NASDAQ:MDB opened at $249.96 on Monday. The firm has a 50-day simple moving average of $304.59 and a 200-day simple moving average of $365.94. MongoDB, Inc. has a one year low of $214.74 and a one year high of $509.62. The firm has a market cap of $18.33 billion, a P/E ratio of -88.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The company had revenue of $450.56 million during the quarter, compared to analyst estimates of $438.44 million. Equities analysts anticipate that MongoDB, Inc. will post -2.67 EPS for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 170 shares of the stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the sale, the chief accounting officer now directly owns 17,360 shares of the company’s stock, valued at $6,043,363.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Dwight A. Merriman sold 4,000 shares of the company’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $341.12, for a total transaction of $1,364,480.00. Following the transaction, the director now directly owns 1,156,784 shares of the company’s stock, valued at approximately $394,602,158.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the sale, the chief accounting officer now directly owns 17,360 shares of the company’s stock, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. Insiders have sold a total of 59,976 shares of company stock valued at $19,407,963 over the last quarter. 3.60% of the stock is owned by corporate insiders.

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.