Ascent Group LLC Takes $202,000 Position in MongoDB, Inc. $MDB

Ascent Group LLC acquired a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 964 shares of the company's stock, valued at approximately $202,000.

A number of other hedge funds also recently bought and sold shares of the stock. Handelsbanken Fonder AB lifted its holdings in shares of MongoDB by 0.4% during the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after purchasing an additional 65 shares during the last quarter. Wedbush Securities Inc. grew its position in MongoDB by 2.6% during the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock worth $530,000 after purchasing an additional 77 shares during the period. Fifth Third Bancorp grew its position in MongoDB by 15.9% during the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company's stock worth $100,000 after purchasing an additional 78 shares during the period. Arizona State Retirement System grew its position in MongoDB by 0.4% during the 1st quarter. Arizona State Retirement System now owns 21,504 shares of the company's stock worth $3,772,000 after purchasing an additional 83 shares during the period. Finally, Farther Finance Advisors LLC grew its position in MongoDB by 6.8% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,327 shares of the company's stock worth $279,000 after purchasing an additional 85 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Transactions at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total value of $384,989.82. Following the sale, the director owned 24,308 shares of the company's stock, valued at $7,971,322.44. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 33,320 shares of the business's stock in a transaction that occurred on 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 directly owned 203,237 shares in the company, valued at approximately $61,233,275.73. The trade was a 14.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,163 shares of company stock valued at $31,862,322 in the last ninety days. 3.10% of the stock is currently owned by corporate insiders.

MongoDB Price Performance

MDB opened at $326.78 on Thursday. The company's 50 day simple moving average is $281.87 and its two-hundred day simple moving average is $223.26. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The firm has a market capitalization of $26.59 billion, a price-to-earnings ratio of -333.45 and a beta of 1.50.

Analyst Upgrades and Downgrades

MDB has been the topic of several analyst reports. Piper Sandler increased their price target on MongoDB from $345.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Canaccord Genuity Group raised their target price on MongoDB from $340.00 to $375.00 and gave the company a "buy" rating in a research report on Monday, September 22nd. The Goldman Sachs Group raised their target price on MongoDB from $325.00 to $370.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Barclays raised their target price on MongoDB from $305.00 to $345.00 and gave the company an "overweight" rating in a research report on Thursday, September 18th. Finally, Zacks Research upgraded MongoDB from a "hold" rating to a "strong-buy" rating in a research report on Monday. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average target price of $342.69.

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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