abrdn plc Increases Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

abrdn plc grew its holdings in MongoDB, Inc. (NASDAQ:MDB) by 55.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 41,875 shares of the company’s stock after acquiring an additional 14,966 shares during the period. abrdn plc’s holdings in MongoDB were worth $11,144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Sanctuary Advisors LLC purchased a new position in MongoDB in the second quarter valued at $1,860,000. Sycomore Asset Management grew its position in shares of MongoDB by 86.4% during the second quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after acquiring an additional 24,827 shares during the last quarter. Cetera Investment Advisers increased its stake in MongoDB by 327.6% in the first quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock valued at $3,899,000 after purchasing an additional 8,330 shares during the period. Jennison Associates LLC increased its position in MongoDB by 14.3% in the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after acquiring an additional 551,567 shares during the period. Finally, SG Americas Securities LLC raised its stake in shares of MongoDB by 179.7% during the first quarter. SG Americas Securities LLC now owns 7,142 shares of the company’s stock worth $2,561,000 after purchasing an additional 4,589 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Citigroup increased their price objective on MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Tigress Financial lowered their price target on shares of MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, July 11th. DA Davidson increased their target price on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Company increased their price target 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. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $337.96.

MongoDB Stock Performance

MDB stock opened at $271.85 on Friday. The firm has a market cap of $20.08 billion, a PE ratio of -90.02 and a beta of 1.15. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The business’s 50-day moving average price is $274.71 and its two-hundred day moving average price is $279.72. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping 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 firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same quarter in the prior year, the firm posted ($0.63) EPS. The business’s revenue was up 12.8% on a year-over-year basis. As a group, research analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction that occurred on 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 $23,313,925.17. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares in the company, valued at $23,313,925.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction on Friday, August 30th. The shares were sold at an average price of $290.40, for a total value of $290,400.00. Following the sale, the director now directly owns 1,138,006 shares in the company, valued at approximately $330,476,942.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 21,281 shares of company stock worth $5,848,411 over the last 90 days. Company insiders own 3.60% of the company’s stock.

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.