Covestor Ltd Boosts Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Covestor Ltd grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 32.0% in the 3rd quarter, HoldingsChannel reports. The firm owned 338 shares of the company’s stock after acquiring an additional 82 shares during the quarter. Covestor Ltd’s holdings in MongoDB were worth $91,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Atria Investments Inc increased its stake in shares of MongoDB by 6.6% during the 3rd quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock worth $588,000 after purchasing an additional 135 shares during the last quarter. Principal Financial Group Inc. grew its holdings in MongoDB by 2.7% during the third quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after purchasing an additional 160 shares during the period. Janney Montgomery Scott LLC purchased a new stake in MongoDB in the third quarter worth $861,000. Stephens Investment Management Group LLC raised its stake in shares of MongoDB by 22.8% in the third quarter. Stephens Investment Management Group LLC now owns 30,664 shares of the company’s stock valued at $8,290,000 after buying an additional 5,688 shares during the period. Finally, US Bancorp DE lifted its position in shares of MongoDB by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $1,046,000 after buying an additional 324 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on MDB. Needham & Company LLC lifted their price objective on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Stifel Nicolaus boosted their price target on shares of MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Oppenheimer raised their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Citigroup boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Wedbush upgraded MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $334.25.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the sale, the director now owns 1,127,006 shares in the company, valued at approximately $303,807,007.42. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $23,313,925.17. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the sale, the director now directly owns 1,127,006 shares in the company, valued at $303,807,007.42. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 24,281 shares of company stock valued at $6,657,121. Insiders own 3.60% of the company’s stock.

MongoDB Trading Up 3.2 %

MDB stock opened at $300.89 on Thursday. The company has a market capitalization of $22.23 billion, a PE ratio of -99.63 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The company’s 50 day moving average price is $277.90 and its two-hundred day moving average price is $275.28.

MongoDB (NASDAQ:MDB) last issued its 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. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same quarter last year, the company earned ($0.63) EPS. The firm’s revenue was up 12.8% compared to the same quarter last year. As a group, analysts predict that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

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.