MongoDB, Inc. (NASDAQ:MDB) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 2.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 18,773 shares of the company’s stock after acquiring an additional 372 shares during the quarter. HighTower Advisors LLC’s holdings in MongoDB were worth $4,371,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of MDB. Jennison Associates LLC lifted its holdings in MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after purchasing an additional 592,038 shares during the period. Raymond James Financial Inc. acquired a new position in MongoDB during the 4th quarter valued at about $90,478,000. Amundi raised its position in shares of MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after buying an additional 321,186 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of MongoDB by 11,057.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after acquiring an additional 294,228 shares during the period. Finally, Avala Global LP bought a new position in shares of MongoDB in the third quarter valued at approximately $47,960,000. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Wedbush cut their target price on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Mizuho boosted their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a report on Tuesday, December 10th. Piper Sandler reduced their target price on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Canaccord Genuity Group dropped their price target on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a report on Thursday, March 6th. Finally, Oppenheimer decreased their target price on MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

Insider Activity at MongoDB

In other news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the completion of the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,139 shares of company stock valued at $11,328,869. Insiders own 3.60% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $190.06 on Thursday. MongoDB, Inc. has a one year low of $173.13 and a one year high of $387.19. The business’s 50-day moving average price is $253.21 and its two-hundred day moving average price is $270.89. The company has a market capitalization of $14.15 billion, a P/E ratio of -69.36 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the firm posted $0.86 EPS. On average, equities analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

MongoDB 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.