Cherry Creek Investment Advisors Inc. Has $1.41 Million Stake in MongoDB, Inc. (NASDAQ:MDB)

Cherry Creek Investment Advisors Inc. lifted its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 529.0% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 8,058 shares of the company's stock after acquiring an additional 6,777 shares during the period. Cherry Creek Investment Advisors Inc.'s holdings in MongoDB were worth $1,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. OneDigital Investment Advisors LLC grew its position in shares of MongoDB by 3.9% in the fourth quarter. OneDigital Investment Advisors LLC now owns 1,044 shares of the company's stock valued at $243,000 after purchasing an additional 39 shares during the last quarter. Aigen Investment Management LP grew its holdings in MongoDB by 1.4% in the 4th quarter. Aigen Investment Management LP now owns 3,921 shares of the company's stock valued at $913,000 after buying an additional 55 shares during the last quarter. Handelsbanken Fonder AB increased its position in MongoDB by 0.4% in the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock worth $2,599,000 after buying an additional 65 shares during the period. O Shaughnessy Asset Management LLC lifted its holdings in shares of MongoDB by 4.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after buying an additional 75 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of MongoDB by 15.9% during the first quarter. Fifth Third Bancorp now owns 569 shares of the company's stock worth $100,000 after buying an additional 78 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on MDB shares. Monness Crespi & Hardt raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 target price on the stock in a research report on Thursday, June 5th. Piper Sandler raised their price target on shares of MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a research report on Thursday, June 5th. Truist Financial cut their price objective on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Daiwa America upgraded MongoDB to a "strong-buy" rating in a research note on Tuesday, April 1st. Finally, Mizuho decreased their price objective on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and a consensus price target of $282.47.

Insider Buying and Selling at MongoDB

In related news, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total transaction of $205,260.75. Following the completion of the transaction, the director now owns 19,333 shares in the company, valued at approximately $3,377,281.77. This represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 50,382 shares of company stock valued at $10,403,807. 3.10% of the stock is currently owned by corporate insiders.

MongoDB Stock Down 1.2%

NASDAQ MDB traded down $2.49 during trading on Wednesday, reaching $206.76. 1,548,972 shares of the stock traded hands, compared to its average volume of 1,962,229. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The firm has a market cap of $16.89 billion, a price-to-earnings ratio of -181.37 and a beta of 1.39. The stock's 50-day moving average price is $188.81 and its 200 day moving average price is $219.23.

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