Cerity Partners LLC Buys 695 Shares of MongoDB, Inc. (NASDAQ:MDB)

Cerity Partners LLC boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 8.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 9,094 shares of the company’s stock after purchasing an additional 695 shares during the period. Cerity Partners LLC’s holdings in MongoDB were worth $2,459,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Jennison Associates LLC grew its position in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares in the last quarter. Swedbank AB lifted its stake in MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares during the period. Thrivent Financial for Lutherans grew its holdings in MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in MongoDB during the 2nd quarter valued at about $52,131,000. Finally, Renaissance Technologies LLC raised its holdings in shares of MongoDB by 828.9% in the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after purchasing an additional 163,300 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of recent research reports. Bank of America increased their price objective 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. DA Davidson lifted their price target on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. Truist Financial boosted their price target on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Piper Sandler raised their price objective on MongoDB from $335.00 to $425.00 and gave the company an “overweight” rating in a research report on Tuesday, November 26th. Finally, Needham & Company LLC boosted their target price on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $340.29.

Insider Activity at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total value of $872,370.00. Following the transaction, the director now owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock worth $7,442,189 over the last quarter. Insiders own 3.60% of the company’s stock.

MongoDB Price Performance

NASDAQ MDB opened at $322.49 on Monday. The company has a market cap of $23.82 billion, a price-to-earnings ratio of -106.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The stock’s fifty day moving average price is $283.54 and its 200 day moving average price is $270.41. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last announced 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. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same period in the prior year, the company earned ($0.63) earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts forecast that MongoDB, Inc. will post -2.37 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.