MongoDB, Inc. (NASDAQ:MDB) Shares Bought by CIBC Private Wealth Group LLC

CIBC Private Wealth Group LLC grew its stake in MongoDB, Inc. (NASDAQ:MDB) by 10.4% in the fourth quarter, Holdings Channel reports. The fund owned 85,519 shares of the company’s stock after purchasing an additional 8,068 shares during the period. CIBC Private Wealth Group LLC’s holdings in MongoDB were worth $21,267,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of MDB. Norges Bank acquired a new stake in MongoDB during the fourth quarter worth about $189,584,000. Raymond James Financial Inc. purchased a new stake in shares of MongoDB in the 4th quarter valued at approximately $90,478,000. Amundi increased its holdings in shares of MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after buying an additional 321,186 shares during the last quarter. Assenagon Asset Management S.A. raised its position 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 valued at $69,119,000 after buying an additional 294,228 shares during the period. Finally, Avala Global LP purchased a new stake in shares of MongoDB during the 3rd quarter valued at approximately $47,960,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on MDB shares. Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 6th. Monness Crespi & Hardt raised MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. KeyCorp cut shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Robert W. Baird lowered their target price on shares of MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Finally, Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $365.00 to $225.00 in a research note on Thursday, March 6th. Seven equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Trading Down 1.5 %

Shares of MDB opened at $175.40 on Tuesday. The firm has a market capitalization of $14.24 billion, a price-to-earnings ratio of -64.01 and a beta of 1.30. The firm’s fifty day simple moving average is $244.01 and its 200-day simple moving average is $265.11. MongoDB, Inc. has a twelve month low of $170.85 and a twelve month high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) 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 for the quarter, compared to analysts’ expectations of $519.65 million. During the same period last year, the firm earned $0.86 earnings per share. On average, analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, CFO Michael Lawrence Gordon sold 1,245 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the sale, the chief financial officer now owns 79,062 shares in the company, valued at approximately $18,507,623.58. The trade was a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock valued at $11,328,869 over the last three months. 3.60% of the stock is owned by corporate insiders.

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.