Raymond James Financial Inc. Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Raymond James Financial Inc. acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 388,629 shares of the company’s stock, valued at approximately $90,478,000.

A number of other large investors have also recently bought and sold shares of MDB. Hilltop National Bank grew its stake in MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. acquired a new stake in shares of MongoDB in the 4th quarter valued at approximately $35,000. Brooklyn Investment Group acquired a new stake in shares of MongoDB in the 3rd quarter valued at approximately $36,000. Continuum Advisory LLC boosted its stake in shares of MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after purchasing an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc boosted its stake in shares of MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after purchasing an additional 165 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on MDB. Bank of America reduced their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a research note on Thursday. Monness Crespi & Hardt upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, March 3rd. Wedbush reduced their price target on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research note on Thursday. Canaccord Genuity Group reduced their price target on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday. Finally, Needham & Company LLC cut their target price on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $319.87.

MongoDB Stock Down 2.8 %

NASDAQ:MDB opened at $187.65 on Monday. The company has a fifty day moving average of $261.68 and a 200-day moving average of $274.47. The firm has a market capitalization of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30. MongoDB, Inc. has a twelve month low of $181.05 and a twelve month high of $387.19.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the firm earned $0.86 EPS. On average, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 169 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the completion of the sale, the chief accounting officer now owns 14,899 shares in the company, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the sale, the chief executive officer now owns 217,294 shares of the company’s stock, valued at $55,379,548.84. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,314 shares of company stock worth $12,981,833 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.