Oppenheimer Asset Management Inc. Grows Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Oppenheimer Asset Management Inc. grew its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 13.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,365 shares of the company’s stock after purchasing an additional 741 shares during the period. Oppenheimer Asset Management Inc.’s holdings in MongoDB were worth $1,591,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in MDB. Vanguard Group Inc. boosted its holdings in MongoDB by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock valued at $2,797,521,000 after purchasing an additional 194,148 shares during the last quarter. Atalanta Sosnoff Capital LLC increased its stake in shares of MongoDB by 24.7% in the fourth quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock worth $22,205,000 after buying an additional 10,753 shares during the last quarter. Artisan Partners Limited Partnership bought a new stake in shares of MongoDB in the fourth quarter worth $10,545,000. Prudential PLC raised its holdings in MongoDB by 2.4% in the fourth quarter. Prudential PLC now owns 21,169 shares of the company’s stock valued at $8,655,000 after acquiring an additional 489 shares in the last quarter. Finally, Bornite Capital Management LP acquired a new position in MongoDB during the 4th quarter worth $6,133,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDB. Needham & Company LLC upped their target price on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. DA Davidson increased their target price on MongoDB from $265.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Canaccord Genuity Group lowered their price target on MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a report on Friday, May 31st. Scotiabank raised their price objective on MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $337.56.

MongoDB Price Performance

Shares of MDB opened at $280.11 on Thursday. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The stock’s fifty day moving average is $257.85 and its 200-day moving average is $299.90. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The firm has a market capitalization of $20.55 billion, a price-to-earnings ratio of -99.68 and a beta of 1.15.

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

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the transaction, the chief accounting officer now directly owns 16,222 shares in the company, valued at approximately $4,589,041.58. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director John Dennis Mcmahon sold 10,000 shares of the stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the director now directly owns 20,020 shares of the company’s stock, valued at $4,564,560. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the completion of the transaction, the chief accounting officer now owns 16,222 shares in the company, valued at approximately $4,589,041.58. The disclosure for this sale can be found here. Insiders sold 32,005 shares of company stock worth $8,082,746 over the last ninety days. Company insiders own 3.60% of the company’s stock.

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.