3,469 Shares in MongoDB, Inc. $MDB Acquired by Avanza Fonder AB

Key Points

• Avanza Fonder AB has acquired 3,469 shares of MongoDB, Inc. valued at approximately $728,000 during the second quarter.
• Institutional investors now hold 89.29% of MongoDB's stock, indicating strong ownership and interest from major financial entities.
• Analysts have raised MongoDB's price targets across the board, with an average target price now at $336.83 reflecting positive investor sentiment.

Avanza Fonder AB bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,469 shares of the company's stock, valued at approximately $728,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Two Sigma Investments LP acquired a new stake in MongoDB during the 4th quarter valued at $768,000. Vident Advisory LLC increased its holdings in MongoDB by 25.9% during the 4th quarter. Vident Advisory LLC now owns 1,851 shares of the company's stock valued at $431,000 after purchasing an additional 381 shares in the last quarter. Woodline Partners LP acquired a new stake in MongoDB during the 4th quarter valued at $247,000. Toronto Dominion Bank increased its holdings in MongoDB by 10.8% during the 4th quarter. Toronto Dominion Bank now owns 10,484 shares of the company's stock valued at $2,441,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in MongoDB by 47.8% during the 4th quarter. Mackenzie Financial Corp now owns 5,731 shares of the company's stock valued at $1,334,000 after purchasing an additional 1,854 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

MongoDB Price Performance

Shares of MongoDB stock opened at $323.59 on Tuesday. The firm has a market cap of $26.33 billion, a price-to-earnings ratio of -330.19 and a beta of 1.49. The stock's 50-day moving average is $260.02 and its 200-day moving average is $212.85. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00.

Analyst Ratings Changes

MDB has been the subject of a number of recent analyst reports. Morgan Stanley raised their price target on MongoDB from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. Wolfe Research raised their price target on MongoDB from $280.00 to $350.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Barclays raised their price target on MongoDB from $305.00 to $345.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. Macquarie lifted their target price on MongoDB from $265.00 to $305.00 and gave the company a "neutral" rating in a research note on Thursday, September 18th. Finally, BMO Capital Markets lifted their target price on MongoDB from $315.00 to $365.00 and gave the company an "outperform" rating in a research note on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, MongoDB has an average rating of "Moderate Buy" and an average target price of $336.83.

Insider Buying and Selling

In other news, Director Charles M. Hazard, Jr. sold 166 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $51,460.00. Following the sale, the director directly owned 14,493 shares in the company, valued at $4,492,830. The trade was a 1.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Dev Ittycheria sold 33,320 shares of the business's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $301.29, for a total value of $10,038,982.80. Following the completion of the sale, the chief executive officer owned 203,237 shares in the company, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 59,730 shares of company stock valued at $16,441,331. Corporate insiders own 3.10% of the company's stock.

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.

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