Alps Advisors Inc. Raises Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Alps Advisors Inc. grew its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 42.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,047 shares of the company's stock after acquiring an additional 2,400 shares during the period. Alps Advisors Inc.'s holdings in MongoDB were worth $1,411,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of MDB. Cloud Capital Management LLC acquired a new position in MongoDB during the first quarter worth about $25,000. Strategic Investment Solutions Inc. IL acquired a new position in shares of MongoDB during the 4th quarter worth approximately $29,000. Coppell Advisory Solutions LLC raised its position in shares of MongoDB by 364.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after purchasing an additional 182 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new stake in MongoDB in the 4th quarter valued at approximately $97,000. Finally, Fifth Third Bancorp grew its holdings in MongoDB by 15.9% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company's stock valued at $100,000 after buying an additional 78 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Piper Sandler upped their price objective on MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. DA Davidson restated a "buy" rating and issued a $275.00 target price on shares of MongoDB in a report on Thursday, June 5th. Rosenblatt Securities lowered their price target on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, June 5th. Truist Financial reduced their price objective on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Macquarie restated a "neutral" rating and set a $230.00 target price (up previously from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Eight analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $282.39.

MongoDB Trading Down 3.2%

MDB stock opened at $202.51 on Friday. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The company has a market capitalization of $16.55 billion, a P/E ratio of -177.64 and a beta of 1.41. The firm has a 50 day simple moving average of $199.07 and a 200-day simple moving average of $213.89.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.51 earnings per share. On average, research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 820 shares of MongoDB stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the transaction, the director directly owned 1,106,186 shares in the company, valued at $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 3,747 shares of the firm's stock in a transaction that occurred on Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the completion of the sale, the chief executive officer directly owned 253,227 shares in the company, valued at approximately $52,177,423.35. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 32,746 shares of company stock valued at $7,500,196 in the last quarter. Insiders own 3.10% 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.

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