MongoDB, Inc. $MDB Stake Lifted by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC increased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 0.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,603 shares of the company’s stock after purchasing an additional 192 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in MongoDB were worth $4,565,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Cloud Capital Management LLC bought a new stake in shares of MongoDB in the 1st quarter worth $25,000. Hollencrest Capital Management acquired a new position in MongoDB during the first quarter worth about $26,000. Cullen Frost Bankers Inc. grew its holdings in MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock worth $28,000 after acquiring an additional 120 shares during the period. State of Wyoming acquired a new stake in MongoDB in the 1st quarter valued at about $62,000. Finally, Brooklyn Investment Group lifted its holdings in MongoDB by 247.9% in the 1st quarter. Brooklyn Investment Group now owns 407 shares of the company’s stock valued at $71,000 after acquiring an additional 290 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Dev Ittycheria sold 33,320 shares of the stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $301.29, for a total value of $10,038,982.80. Following the completion of the sale, the chief executive officer directly owned 203,237 shares of the company’s stock, valued at $61,233,275.73. This represents a 14.09% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope F. Cochran sold 1,174 shares of the firm’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total transaction of $384,989.82. Following the sale, the director owned 24,308 shares of the company’s stock, valued at approximately $7,971,322.44. This represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,910 shares of company stock valued at $32,634,392 over the last ninety days. Corporate insiders own 3.10% of the company’s stock.

MongoDB Stock Up 0.0%

Shares of NASDAQ:MDB opened at $315.32 on Friday. The company’s fifty day moving average is $266.28 and its two-hundred day moving average is $215.22. The company has a market cap of $25.65 billion, a P/E ratio of -321.76 and a beta of 1.49. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MDB shares. Morgan Stanley lifted their price objective on shares of MongoDB from $255.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, August 28th. Royal Bank Of Canada restated an “outperform” rating and issued a $350.00 price target on shares of MongoDB in a research report on Thursday, September 18th. The Goldman Sachs Group increased their price objective on MongoDB from $325.00 to $370.00 and gave the company a “buy” rating in a research report on Thursday, September 18th. Needham & Company LLC raised their price objective on MongoDB from $325.00 to $365.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. Finally, Scotiabank boosted their target price on MongoDB from $280.00 to $320.00 and gave the stock a “sector perform” rating in a research report on Friday, September 19th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $336.83.

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.