BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Increases Holdings in MongoDB, Inc. (NASDAQ:MDB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 61.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,930 shares of the company’s stock after purchasing an additional 5,313 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in MongoDB were worth $3,482,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Xponance Inc. increased its holdings in MongoDB by 0.9% during the 2nd quarter. Xponance Inc. now owns 12,322 shares of the company’s stock valued at $3,080,000 after purchasing an additional 105 shares during the period. Bank of Montreal Can increased its holdings in MongoDB by 13.9% during the 2nd quarter. Bank of Montreal Can now owns 76,073 shares of the company’s stock valued at $19,028,000 after purchasing an additional 9,270 shares during the period. Battery Global Advisors LLC increased its holdings in MongoDB by 34.3% during the 2nd quarter. Battery Global Advisors LLC now owns 2,091 shares of the company’s stock valued at $523,000 after purchasing an additional 534 shares during the period. Itau Unibanco Holding S.A. purchased a new position in shares of MongoDB during the second quarter valued at about $1,595,000. Finally, Frank Rimerman Advisors LLC bought a new position in MongoDB in the second quarter worth about $599,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of research reports. Needham & Company LLC boosted their target price on shares of MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Wells Fargo & Company upped their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Guggenheim raised shares of MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, June 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a research report on Friday, August 30th. Finally, Loop Capital reduced their target price on MongoDB from $415.00 to $315.00 and set a “buy” rating for the company in a report on Friday, May 31st. 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 company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $337.56.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $269.53 on Friday. The firm has a 50 day moving average of $260.86 and a 200 day moving average of $295.21. 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 capitalization of $19.77 billion, a price-to-earnings ratio of -95.92 and a beta of 1.15. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating 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 return on equity of 15.06% and a negative net margin of 12.08%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned ($0.63) earnings per share. On average, sell-side analysts predict that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, CAO Thomas Bull sold 138 shares of the firm’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 value of $36,610.02. Following the completion of the sale, the chief accounting officer now directly owns 17,222 shares in the company, valued at $4,568,824.38. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CAO Thomas Bull sold 138 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the completion of the transaction, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Lawrence Gordon sold 1,569 shares of the business’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $416,240.01. Following the sale, the chief financial officer now directly owns 81,942 shares in the company, valued at approximately $21,738,393.18. The disclosure for this sale can be found here. Insiders have sold a total of 21,005 shares of company stock valued at $5,557,746 in the last 90 days. 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.