111 Capital Takes $467,000 Position in MongoDB, Inc. $MDB

Key Points

• 111 Capital has acquired a new position in MongoDB, Inc., purchasing 2,225 shares valued at approximately $467,000 during the second quarter.
• Analysts have recently upgraded their target prices for MongoDB, with Piper Sandler raising it to $400.00 and Wells Fargo setting a target of $430.00, indicating strong market expectations for the stock.
• Insider trading activity shows significant sell-offs, with CAO Thomas Bull selling 1,000 shares for about $326,250 and Director Peter Thomas Killalea selling 20,000 shares valued at about $6.4 million.

111 Capital acquired a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,225 shares of the company's stock, valued at approximately $467,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Cloud Capital Management LLC acquired a new position in shares of MongoDB in the 1st quarter valued at about $25,000. Hollencrest Capital Management acquired a new position in shares of MongoDB in the 1st quarter valued at about $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares during the period. State of Wyoming acquired a new position in shares of MongoDB in the 1st quarter valued at about $62,000. Finally, Brooklyn Investment Group lifted its stake in shares of 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 purchasing an additional 290 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of recent analyst reports. Macquarie boosted their price objective on MongoDB from $265.00 to $305.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Sanford C. Bernstein boosted their target price on MongoDB from $319.00 to $338.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Piper Sandler boosted their target price on MongoDB from $345.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Wells Fargo & Company began coverage on MongoDB in a research report on Tuesday, September 30th. They issued an "overweight" rating and a $430.00 target price for the company. Finally, William Blair reaffirmed an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and a consensus price target of $342.69.

MongoDB Stock Down 1.6%

Shares of MongoDB stock opened at $321.21 on Monday. The company has a market cap of $26.13 billion, a PE ratio of -327.77 and a beta of 1.50. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00. The business has a 50 day moving average price of $277.12 and a 200-day moving average price of $220.96.

Insider Transactions at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $326.25, for a total value of $326,250.00. Following the completion of the sale, the chief accounting officer directly owned 11,598 shares of the company's stock, valued at $3,783,847.50. This represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Peter Thomas Killalea sold 20,000 shares of the stock in a transaction that occurred on Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total value of $6,437,400.00. Following the completion of the sale, the director directly owned 32,293 shares of the company's stock, valued at approximately $10,394,147.91. This trade represents a 38.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 106,163 shares of company stock valued at $31,862,322. Corporate insiders own 3.10% of the company's stock.

MongoDB 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.

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