Blair William & Co. IL Decreases Stake in MongoDB, Inc. $MDB

Key Points

• Blair William & Co. IL has reduced its stake in MongoDB, Inc. by 19.2%, now holding 361,132 shares valued at approximately $75.8 million.
• Multiple hedge funds have increased their positions in MongoDB, including Park Avenue Securities LLC, which raised its holdings by 52.6% in the first quarter.
• Equity analysts are bullish on MongoDB, with upgrades to price targets from firms like Goldman Sachs and Wolfe Research, reflecting growing investor confidence.

Blair William & Co. IL decreased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 19.2% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 361,132 shares of the company's stock after selling 85,893 shares during the quarter. Blair William & Co. IL owned about 0.44% of MongoDB worth $75,834,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Park Avenue Securities LLC boosted its position in MongoDB by 52.6% during the first quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock worth $461,000 after acquiring an additional 907 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in shares of MongoDB by 57.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock worth $219,000 after purchasing an additional 452 shares during the last quarter. SG Americas Securities LLC boosted its holdings in shares of MongoDB by 1,230.3% during the 1st quarter. SG Americas Securities LLC now owns 24,997 shares of the company's stock worth $4,384,000 after purchasing an additional 23,118 shares during the last quarter. Handelsbanken Fonder AB grew its position in shares of MongoDB by 0.4% in the first 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 in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of MongoDB by 24.4% in the first quarter. Assenagon Asset Management S.A. now owns 369,313 shares of the company's stock valued at $64,778,000 after purchasing an additional 72,424 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 25,000 shares of the business's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $320.15, for a total value of $8,003,750.00. Following the sale, the director owned 1,079,316 shares of the company's stock, valued at $345,543,017.40. The trade was a 2.26% 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, Director Peter Thomas Killalea sold 20,000 shares of the company's stock in a transaction on Tuesday, September 23rd. The stock was sold at an average price of $321.87, for a total value of $6,437,400.00. Following the transaction, the director owned 32,293 shares in the company, valued at $10,394,147.91. This trade represents a 38.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 106,163 shares of company stock worth $31,862,322. 3.10% of the stock is owned by company insiders.

MongoDB Price Performance

NASDAQ MDB opened at $326.78 on Thursday. The stock has a market capitalization of $26.59 billion, a P/E ratio of -333.45 and a beta of 1.50. The firm's 50-day moving average is $281.87 and its two-hundred day moving average is $223.26. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on MDB shares. Wolfe Research boosted their price objective on MongoDB from $280.00 to $350.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. The Goldman Sachs Group boosted their price target on shares of MongoDB from $325.00 to $370.00 and gave the company a "buy" rating in a research report on Thursday, September 18th. Monness Crespi & Hardt upped their price objective on shares of MongoDB from $295.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Zacks Research raised shares of MongoDB from a "hold" rating to a "strong-buy" rating in a research note on Monday. Finally, Macquarie boosted their target price on shares of MongoDB from $265.00 to $305.00 and gave the company a "neutral" rating in a report on Thursday, September 18th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, MongoDB 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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