Focus Partners Wealth Increases Stake in MongoDB, Inc. (NASDAQ:MDB)

Focus Partners Wealth raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 57.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,132 shares of the company’s stock after buying an additional 11,335 shares during the quarter. Focus Partners Wealth’s holdings in MongoDB were worth $7,248,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in MDB. Strategic Investment Solutions Inc. IL purchased a new stake in MongoDB during the 4th quarter valued at approximately $29,000. NCP Inc. bought a new position in shares of MongoDB during the 4th quarter valued at approximately $35,000. Coppell Advisory Solutions LLC boosted its position in shares of MongoDB by 364.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock valued at $54,000 after acquiring an additional 182 shares during the last quarter. Smartleaf Asset Management LLC boosted its position in shares of MongoDB by 56.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock valued at $87,000 after acquiring an additional 134 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its position in shares of MongoDB by 57.4% during the 4th quarter. Manchester Capital Management LLC now owns 384 shares of the company’s stock valued at $89,000 after acquiring an additional 140 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on MDB. UBS Group set a $350.00 target price on MongoDB in a research report on Tuesday, March 4th. Truist Financial lowered their target price on MongoDB from $300.00 to $275.00 and set a “buy” rating for the company in a research report on Monday, March 31st. Scotiabank reiterated a “sector perform” rating and set a $160.00 target price (down from $240.00) on shares of MongoDB in a research report on Friday, April 25th. Citigroup lowered their target price on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Finally, Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $294.78.

MongoDB Stock Up 2.2%

MDB stock opened at $195.90 on Wednesday. The business’s fifty day simple moving average is $174.62 and its two-hundred day simple moving average is $241.04. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $379.06. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of -71.50 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the previous year, the business earned $0.86 EPS. Research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Srdjan Tanjga sold 525 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This trade represents a 7.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the transaction, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,423 shares of company stock worth $7,148,369 over the last quarter. 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.