Banque Cantonale Vaudoise Invests $548,000 in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in MongoDB, Inc. worth approximately $548,000 during the first quarter, purchasing 3,124 shares of its stock.
• MongoDB reported a 21.8% year-over-year revenue increase, with $549.01 million for the quarter and earnings per share of $1.00, surpassing analysts' expectations.
• Analysts maintain a consensus rating of Moderate Buy for MongoDB's stock, with 27 buy ratings and a target price averaging around $281.31.

Banque Cantonale Vaudoise bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,124 shares of the company's stock, valued at approximately $548,000.

Several other hedge funds have also modified their holdings of the company. 111 Capital purchased a new position in MongoDB in the 4th quarter valued at about $390,000. Park Avenue Securities LLC lifted its stake in MongoDB by 52.6% in the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock valued at $461,000 after buying an additional 907 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in MongoDB by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock valued at $1,359,000 after buying an additional 298 shares in the last quarter. Sowell Financial Services LLC purchased a new position in MongoDB in the 1st quarter valued at about $263,000. Finally, Farther Finance Advisors LLC lifted its stake in MongoDB by 57.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock valued at $219,000 after buying an additional 452 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

MDB has been the topic of a number of research reports. Piper Sandler raised their price target on shares of MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. UBS Group increased their price objective on shares of MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Redburn Atlantic upgraded shares of MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price objective for the company in a report on Thursday, April 17th. Rosenblatt Securities cut their price objective 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. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $281.31.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 25,005 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer owned 256,974 shares of the company's stock, valued at $60,131,916. This trade represents a 8.87% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $468,000.00. Following the completion of the transaction, the director directly owned 1,107,006 shares of the company's stock, valued at $259,039,404. This represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,416 shares of company stock valued at $11,936,656 in the last 90 days. Company insiders own 3.10% of the company's stock.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $16.92 during mid-day trading on Friday, reaching $220.97. 3,019,213 shares of the company were exchanged, compared to its average volume of 2,199,258. The firm has a market cap of $18.06 billion, a price-to-earnings ratio of -193.83 and a beta of 1.44. The firm's 50-day simple moving average is $211.50 and its 200 day simple moving average is $211.98. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued 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 company had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same quarter last year, the company posted $0.51 EPS. The firm's revenue was up 21.8% compared to the same quarter last year. On average, research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.