Fifth Third Bancorp Raises Holdings in MongoDB, Inc. (NASDAQ:MDB)

Fifth Third Bancorp raised its holdings in MongoDB, Inc. (NASDAQ:MDB) by 7.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 620 shares of the company’s stock after acquiring an additional 44 shares during the period. Fifth Third Bancorp’s holdings in MongoDB were worth $155,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. 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 valued at $2,797,521,000 after buying an additional 194,148 shares during the period. Atalanta Sosnoff Capital LLC lifted its holdings in shares of MongoDB by 24.7% in the 4th quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock valued at $22,205,000 after purchasing an additional 10,753 shares during the last quarter. Fiera Capital Corp lifted its stake in MongoDB by 0.8% in the fourth quarter. Fiera Capital Corp now owns 224,293 shares of the company’s stock valued at $91,702,000 after buying an additional 1,695 shares during the last quarter. Artisan Partners Limited Partnership acquired a new stake in MongoDB during the 4th quarter worth $10,545,000. Finally, Prudential PLC boosted its stake in shares of MongoDB by 2.4% during the fourth quarter. Prudential PLC now owns 21,169 shares of the company’s stock worth $8,655,000 after buying an additional 489 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Up 0.4 %

NASDAQ:MDB opened at $247.61 on Friday. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The business’s 50-day simple moving average is $245.28 and its 200 day simple moving average is $322.82. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93. The stock has a market cap of $18.16 billion, a price-to-earnings ratio of -88.12 and a beta of 1.13.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $438.44 million. As a group, sell-side analysts predict that MongoDB, Inc. will post -2.67 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $224.38, for a total value of $263,422.12. Following the completion of the transaction, the director now directly owns 13,011 shares in the company, valued at $2,919,408.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MongoDB news, CRO Cedric Pech sold 273 shares of the stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the sale, the executive now directly owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $224.38, for a total transaction of $263,422.12. Following the completion of the transaction, the director now directly owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The disclosure for this sale can be found here. Insiders have sold 30,179 shares of company stock worth $7,368,989 in the last ninety days. 3.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Needham & Company LLC restated a “buy” rating and issued a $290.00 target price on shares of MongoDB in a research note on Thursday, June 13th. Stifel Nicolaus reduced their price target on shares of MongoDB from $435.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, May 31st. Tigress Financial decreased their price objective on MongoDB from $500.00 to $400.00 and set a “buy” rating on the stock in a research note on Thursday, July 11th. Mizuho decreased their target price on shares of MongoDB from $380.00 to $250.00 and set a “neutral” rating on the stock in a research report on Friday, May 31st. Finally, Canaccord Genuity Group decreased their price target on MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $355.74.

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.