Palacios Wealth Management LLC Purchases New Holdings in MongoDB, Inc. (NASDAQ:MDB)

Palacios Wealth Management LLC acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,415 shares of the company’s stock, valued at approximately $598,000.

Several other large investors have also recently added to or reduced their stakes in MDB. Jennison Associates LLC increased its stake in MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the period. Assenagon Asset Management S.A. increased its stake in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after purchasing an additional 294,228 shares during the last quarter. Avala Global LP acquired a new position in shares of MongoDB during the 3rd quarter worth $47,960,000. Eagle Asset Management Inc. acquired a new position in shares of MongoDB during the 3rd quarter worth $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of MongoDB during the 3rd quarter worth $25,636,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Performance

NASDAQ:MDB opened at $292.97 on Friday. The company has a 50-day moving average of $264.56 and a 200-day moving average of $271.42. The company has a market capitalization of $21.82 billion, a price-to-earnings ratio of -106.92 and a beta of 1.28. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $488.00.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm’s revenue for the quarter was up 22.3% compared to the same quarter last year. During the same period last year, the firm earned $0.96 EPS. Sell-side analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Royal Bank of Canada increased their price target on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Robert W. Baird increased their price target on shares of MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. DA Davidson raised their target price on shares of MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Finally, Truist Financial reiterated a “buy” rating and issued a $400.00 target price (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the completion of the sale, the director now owns 1,124,006 shares in the company, valued at $392,469,175.02. This trade represents a 0.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated 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 owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This trade represents a 6.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,094 shares of company stock worth $11,705,293 in the last quarter. 3.60% of the stock is owned by corporate insiders.

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.