MongoDB, Inc. (NASDAQ:MDB) Shares Bought by M&T Bank Corp

M&T Bank Corp grew its stake in MongoDB, Inc. (NASDAQ:MDB) by 7.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,309 shares of the company’s stock after purchasing an additional 424 shares during the period. M&T Bank Corp’s holdings in MongoDB were worth $2,580,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Blue Trust Inc. boosted its holdings in MongoDB by 937.5% in the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock valued at $34,000 after purchasing an additional 75 shares in the last quarter. Cullen Frost Bankers Inc. acquired a new position in MongoDB during the third quarter worth $35,000. AM Squared Ltd acquired a new position in MongoDB during the third quarter worth $35,000. Huntington National Bank raised its position in MongoDB by 279.3% in the third quarter. Huntington National Bank now owns 110 shares of the company’s stock worth $38,000 after acquiring an additional 81 shares in the last quarter. Finally, Parkside Financial Bank & Trust lifted its holdings in MongoDB by 38.3% in the third quarter. Parkside Financial Bank & Trust now owns 130 shares of the company’s stock valued at $45,000 after acquiring an additional 36 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 170 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the transaction, the chief accounting officer now owns 17,360 shares of the company’s stock, valued at $6,043,363.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $379.15, for a total value of $379,150.00. Following the completion of the sale, the director now owns 522,896 shares of the company’s stock, valued at approximately $198,256,018.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas Bull sold 170 shares of the stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total transaction of $59,180.40. Following the transaction, the chief accounting officer now directly owns 17,360 shares in the company, valued at approximately $6,043,363.20. The disclosure for this sale can be found here. Insiders have sold 46,802 shares of company stock worth $16,514,071 in the last quarter. 4.80% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDB. Redburn Atlantic restated a “sell” rating and set a $295.00 price objective (down from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. JMP Securities restated a “market outperform” rating and issued a $440.00 target price on shares of MongoDB in a report on Monday, January 22nd. Guggenheim lifted their price target on shares of MongoDB from $250.00 to $272.00 and gave the stock a “sell” rating in a report on Monday, March 4th. Truist Financial upped their price objective on shares of MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $465.00 target price on shares of MongoDB in a research note on Friday, May 3rd. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $443.86.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $353.20 on Thursday. The company has a market cap of $25.72 billion, a P/E ratio of -142.42 and a beta of 1.19. MongoDB, Inc. has a one year low of $244.85 and a one year high of $509.62. The business’s 50-day simple moving average is $366.16 and its 200 day simple moving average is $391.13. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.40 and a current ratio of 4.40.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, March 7th. The company reported ($1.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.71) by ($0.32). The firm had revenue of $458.00 million for the quarter, compared to analysts’ expectations of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. On average, sell-side analysts forecast that MongoDB, Inc. will post -2.53 earnings per share for the current fiscal 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.