IFP Advisors Inc Has $380,000 Holdings in MongoDB, Inc. (NASDAQ:MDB)

IFP Advisors Inc grew its position in MongoDB, Inc. (NASDAQ:MDB) by 54.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,632 shares of the company’s stock after purchasing an additional 574 shares during the quarter. IFP Advisors Inc’s holdings in MongoDB were worth $380,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in MDB. Assenagon Asset Management S.A. grew its position in shares of MongoDB by 18.4% in the third quarter. Assenagon Asset Management S.A. now owns 2,661 shares of the company’s stock valued at $719,000 after purchasing an additional 414 shares during the last quarter. Nisa Investment Advisors LLC grew its position in shares of MongoDB by 3.8% in the third quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after purchasing an additional 40 shares during the last quarter. abrdn plc grew its position in shares of MongoDB by 55.6% in the third quarter. abrdn plc now owns 41,875 shares of the company’s stock valued at $11,144,000 after purchasing an additional 14,966 shares during the last quarter. First Trust Direct Indexing L.P. grew its position in shares of MongoDB by 16.0% in the third quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the company’s stock valued at $510,000 after purchasing an additional 261 shares during the last quarter. Finally, US Bancorp DE grew its position in shares of MongoDB by 9.1% in the third quarter. US Bancorp DE now owns 3,869 shares of the company’s stock valued at $1,046,000 after purchasing an additional 324 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on MDB shares. The Goldman Sachs Group upped their target price on MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Canaccord Genuity Group increased their price target on MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Royal Bank of Canada increased their price target on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 10th. Morgan Stanley increased their price target on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $380.00 price target on shares of MongoDB in a research report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

MongoDB Stock Performance

Shares of MDB opened at $267.43 on Friday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $449.12. The stock has a market capitalization of $19.92 billion, a price-to-earnings ratio of -97.60 and a beta of 1.28. The stock has a fifty day moving average of $262.73 and a 200-day moving average of $274.82.

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

Insider Activity

In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $323.00, for a total transaction of $969,000.00. Following the completion of the transaction, the director now directly owns 1,121,006 shares of the company’s stock, valued at $362,084,938. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 8,335 shares of the firm’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the transaction, the chief executive officer now directly owns 217,294 shares of the company’s stock, valued at approximately $58,121,799.12. This represents a 3.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 50,314 shares of company stock worth $13,494,863. Insiders own 3.60% of the company’s stock.

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.