Empire Life Investments Inc. Acquires 3,277 Shares of MongoDB, Inc. (NASDAQ:MDB)

Empire Life Investments Inc. lifted its holdings in MongoDB, Inc. (NASDAQ:MDB) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,535 shares of the company’s stock after buying an additional 3,277 shares during the quarter. Empire Life Investments Inc.’s holdings in MongoDB were worth $6,876,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Nisa Investment Advisors LLC increased its position in MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock worth $295,000 after purchasing an additional 40 shares during the period. Hilltop National Bank increased its position in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the period. Avestar Capital LLC increased its position in MongoDB by 2.0% in the fourth quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock worth $504,000 after purchasing an additional 42 shares during the period. Tanager Wealth Management LLP increased its position in MongoDB by 4.7% in the third quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock worth $259,000 after purchasing an additional 43 shares during the period. Finally, Rakuten Securities Inc. increased its position in MongoDB by 16.5% in the third quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock worth $90,000 after purchasing an additional 47 shares during the period. 89.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MDB shares. Mizuho boosted their target price on MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Royal Bank of Canada boosted their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Barclays decreased their target price on MongoDB from $400.00 to $330.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. KeyCorp boosted their target price on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research report on Thursday, December 5th. Finally, JMP Securities restated a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a research report on Wednesday, December 11th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $361.00.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $349.17, for a total value of $698,340.00. Following the sale, the director now directly owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. This trade represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,094 shares of company stock valued at $11,705,293 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

MongoDB Stock Down 1.1 %

Shares of NASDAQ MDB opened at $289.63 on Friday. The stock’s fifty day moving average price is $263.74 and its two-hundred day moving average price is $271.57. MongoDB, Inc. has a one year low of $212.74 and a one year high of $488.00.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The firm had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the firm posted $0.96 EPS. The company’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities research analysts expect that MongoDB, Inc. will post -1.78 EPS 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.