Private Advisor Group LLC Has $1.58 Million Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Private Advisor Group LLC grew its holdings in MongoDB, Inc. (NASDAQ:MDB) by 167.4% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,324 shares of the company’s stock after purchasing an additional 3,959 shares during the period. Private Advisor Group LLC’s holdings in MongoDB were worth $1,581,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in MDB. Vanguard Group Inc. boosted its position in MongoDB by 1.0% during the first quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after purchasing an additional 68,348 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of MongoDB by 14.3% in the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after buying an additional 551,567 shares during the last quarter. Norges Bank bought a new position in shares of MongoDB in the fourth quarter valued at $326,237,000. Swedbank AB increased its holdings in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after buying an additional 400,705 shares during the last quarter. Finally, Champlain Investment Partners LLC raised its position in MongoDB by 22.4% during the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock worth $197,497,000 after acquiring an additional 100,725 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on MDB shares. Morgan Stanley boosted their price objective on shares of MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Loop Capital dropped their price objective on MongoDB from $415.00 to $315.00 and set a “buy” rating on the stock in a research note on Friday, May 31st. Scotiabank raised their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Mizuho boosted their target price on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $337.56.

MongoDB Stock Down 1.7 %

MDB stock opened at $290.09 on Friday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The business has a 50-day simple moving average of $255.85 and a 200 day simple moving average of $303.20. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market cap of $21.28 billion, a PE ratio of -103.23 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.63) EPS. Sell-side analysts anticipate that MongoDB, Inc. will post -2.46 EPS for the current fiscal year.

Insider Activity

In related news, Director Hope F. Cochran sold 1,174 shares of the firm’s 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 sale, the director now directly owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other MongoDB news, CRO Cedric Pech sold 273 shares of the business’s stock in a transaction that occurred 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 approximately $9,475,893.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $224.38, for a total transaction of $263,422.12. Following the transaction, the director now directly owns 13,011 shares of the company’s stock, valued at approximately $2,919,408.18. The disclosure for this sale can be found here. In the last quarter, insiders have sold 33,179 shares of company stock worth $8,346,169. Insiders own 3.60% of the company’s stock.

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.