MongoDB, Inc. (NASDAQ:MDB) Holdings Raised by HighTower Advisors LLC

HighTower Advisors LLC increased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 6.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 18,401 shares of the company’s stock after purchasing an additional 1,065 shares during the quarter. HighTower Advisors LLC’s holdings in MongoDB were worth $4,986,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in MDB. Jennison Associates LLC grew its holdings in shares of MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Swedbank AB grew its stake in MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after buying an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans increased its position in MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of MongoDB during the second quarter valued at $52,131,000. Finally, Avala Global LP acquired a new position in shares of MongoDB during the third quarter valued at $47,960,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent research reports. DA Davidson lifted their price objective on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday. Oppenheimer lifted their price target on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a report on Tuesday. Piper Sandler restated an “overweight” rating and issued a $425.00 target price on shares of MongoDB in a research report on Tuesday. Wedbush raised MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, KeyCorp increased their price target on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. One investment 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’s stock. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average target price of $370.48.

Insider Transactions at MongoDB

In other MongoDB news, CAO Thomas Bull sold 154 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $768,750.00. Following the transaction, the director now owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 25,600 shares of company stock valued at $7,255,929 over the last quarter. Company insiders own 3.60% of the company’s stock.

MongoDB Price Performance

MDB stock opened at $290.90 on Wednesday. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The firm has a 50-day moving average of $291.56 and a two-hundred day moving average of $268.79. The firm has a market capitalization of $21.49 billion, a PE ratio of -96.32 and a beta of 1.17. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the prior year, the firm earned $0.96 EPS. The firm’s quarterly revenue was up 22.3% on a year-over-year basis. On average, analysts forecast that MongoDB, Inc. will post -2.37 earnings per share for the current 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.