CIBC Asset Management Inc Grows Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

CIBC Asset Management Inc lifted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 4.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,717 shares of the company’s stock after purchasing an additional 653 shares during the period. CIBC Asset Management Inc’s holdings in MongoDB were worth $3,979,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. MFA Wealth Advisors LLC purchased a new stake in MongoDB in the 2nd quarter worth approximately $25,000. J.Safra Asset Management Corp raised its holdings in shares of MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares in the last quarter. Quarry LP lifted its stake in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares during the period. Hantz Financial Services Inc. bought a new stake in MongoDB in the second quarter valued at $35,000. Finally, GAMMA Investing LLC increased its position in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after purchasing an additional 93 shares during the period. 89.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on MDB. Bank of America lifted their target price on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. JMP Securities reiterated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Friday, August 30th. Morgan Stanley increased their target price on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. UBS Group lifted their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Needham & Company LLC raised their price objective on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $336.54.

Insider Buying and Selling at MongoDB

In related news, CFO Michael Lawrence Gordon sold 1,884 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $482,775.00. Following the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at approximately $20,578,668.75. The trade was a 2.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the sale, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. The trade was a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 24,281 shares of company stock worth $6,657,121 in the last three months. 3.60% of the stock is currently owned by company insiders.

MongoDB Stock Up 1.7 %

MDB opened at $284.43 on Tuesday. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of -94.18 and a beta of 1.15. The firm has a 50 day moving average price of $278.10 and a 200-day moving average price of $273.60. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last announced its earnings results 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. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. During the same period in the previous year, the business earned ($0.63) EPS. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current year.

MongoDB Company 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.