Battery Global Advisors LLC Acquires 1,545 Shares of MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Battery Global Advisors LLC increased its stake in MongoDB, Inc. by 75.6%, acquiring an additional 1,545 shares in the first quarter.
• MongoDB received multiple **upgraded price targets** from analysts, with Barclays raising it from $252.00 to $270.00 and several firms assigning an "outperform" rating.
• In the last 90 days, insiders sold over **51,000 shares** of MongoDB stock, valued at nearly $12 million, indicating significant management activities in the market.

Battery Global Advisors LLC raised its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 75.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,590 shares of the company's stock after buying an additional 1,545 shares during the quarter. MongoDB accounts for about 0.4% of Battery Global Advisors LLC's investment portfolio, making the stock its 25th largest position. Battery Global Advisors LLC's holdings in MongoDB were worth $630,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in MongoDB during the first quarter worth about $25,000. Hollencrest Capital Management bought a new stake in shares of MongoDB in the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. grew its holdings in shares of 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 purchasing an additional 120 shares in the last quarter. Strategic Investment Solutions Inc. IL bought a new stake in shares of MongoDB during the fourth quarter valued at approximately $29,000. Finally, Coppell Advisory Solutions LLC raised its stake in shares of MongoDB by 364.0% in the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after purchasing an additional 182 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on MDB shares. Barclays boosted their price target on shares of MongoDB from $252.00 to $270.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Wedbush reissued an "outperform" rating and issued a $300.00 price target on shares of MongoDB in a research report on Thursday, June 5th. BMO Capital Markets initiated coverage on shares of MongoDB in a research note on Monday, July 28th. They set an "outperform" rating and a $280.00 price target for the company. Cantor Fitzgerald upped their price objective on MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $320.00 target price on shares of MongoDB in a report on Thursday, June 5th. Nine equities research 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. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $281.31.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the firm's stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the transaction, the director owned 1,104,316 shares in the company, valued at approximately $270,557,420. This trade represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the transaction, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 51,416 shares of company stock valued at $11,936,656. Company insiders own 3.10% of the company's stock.

MongoDB Stock Up 3.3%

Shares of MDB stock opened at $235.82 on Thursday. The firm has a market cap of $19.27 billion, a price-to-earnings ratio of -206.86 and a beta of 1.44. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The stock has a 50-day moving average price of $214.05 and a 200 day moving average price of $212.07.

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, topping 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 in the previous year, the company earned $0.51 EPS. MongoDB's revenue was up 21.8% on a year-over-year basis. Sell-side analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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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