Assetmark Inc. Purchases 3,436 Shares of MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Assetmark Inc. increased its stake in MongoDB, Inc. by 13.6%, acquiring an additional 3,436 shares, bringing its total holdings to 28,703 shares valued at approximately $5,035,000.
• MongoDB reported earnings of $1.00 EPS for the last quarter, exceeding analysts' expectations of $0.65 and achieving a revenue of $549.01 million, a year-over-year increase of 21.8%.
• Insider trading included Director Dwight A. Merriman selling 1,000 shares for $225,000 and CEO Dev Ittycheria selling 8,335 shares for $2,032,823.15, resulting in a decrease of 3.40% in Ittycheria's ownership.

Assetmark Inc. raised its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 13.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,703 shares of the company's stock after acquiring an additional 3,436 shares during the period. Assetmark Inc.'s holdings in MongoDB were worth $5,035,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB in the fourth quarter valued at $29,000. Cloud Capital Management LLC acquired a new stake in shares of MongoDB in the 1st quarter valued at about $25,000. Hollencrest Capital Management bought a new stake in MongoDB in the 1st quarter valued at about $26,000. Cullen Frost Bankers Inc. raised its stake in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after buying an additional 120 shares during the period. Finally, Coppell Advisory Solutions LLC boosted its holdings in MongoDB by 364.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after acquiring an additional 182 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

MDB stock traded down $18.65 during mid-day trading on Friday, reaching $219.25. 1,397,257 shares of the company traded hands, compared to its average volume of 2,291,413. The company has a fifty day moving average price of $210.80 and a 200-day moving average price of $212.59. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $370.00. The company has a market capitalization of $17.92 billion, a P/E ratio of -192.87 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The firm had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same period last year, the firm earned $0.51 EPS. The business's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MDB shares. Wolfe Research began coverage on MongoDB in a report on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price objective for the company. Macquarie reissued a "neutral" rating and issued a $230.00 price target (up previously from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Bank of America boosted their price target on shares of MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Scotiabank upped their price objective on shares of MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a report on Thursday, June 5th. Finally, Mizuho cut their target price on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $281.31.

Insider Activity

In related news, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the business's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the completion of the transaction, the director directly owned 1,104,316 shares of the company's stock, valued at approximately $270,557,420. This represents a 0.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is currently owned by insiders.

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.