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

Cherry Creek Investment Advisors Inc. raised its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 529.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 8,058 shares of the company's stock after buying an additional 6,777 shares during the quarter. Cherry Creek Investment Advisors Inc.'s holdings in MongoDB were worth $1,413,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC lifted its stake in MongoDB by 2.0% during the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock valued at $4,371,000 after buying an additional 372 shares in the last quarter. Jones Financial Companies Lllp increased its holdings in shares of MongoDB by 68.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company's stock valued at $237,000 after purchasing an additional 413 shares during the period. Smartleaf Asset Management LLC increased its holdings in shares of MongoDB by 56.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock valued at $87,000 after purchasing an additional 134 shares during the period. 111 Capital acquired a new position in shares of MongoDB in the 4th quarter valued at about $390,000. Finally, Park Avenue Securities LLC increased its holdings in shares of 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 purchasing an additional 907 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Hope F. Cochran sold 1,175 shares of the firm's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total value of $205,260.75. Following the completion of the sale, the director now directly owns 19,333 shares in the company, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Cedric Pech sold 1,690 shares of the firm's stock in a transaction 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 sale, the insider now owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 50,382 shares of company stock worth $10,403,807 over the last three months. 3.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $320.00 target price on shares of MongoDB in a report on Thursday, June 5th. Guggenheim upped their target price on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a report on Thursday, June 5th. DA Davidson reiterated a "buy" rating and issued a $275.00 target price on shares of MongoDB in a report on Thursday, June 5th. Macquarie reiterated a "neutral" rating and issued a $230.00 target price (up previously from $215.00) on shares of MongoDB in a report on Friday, June 6th. Finally, Piper Sandler increased their price objective on MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $282.47.

MongoDB Stock Down 1.3%

MongoDB stock traded down $2.65 during mid-day trading on Friday, hitting $201.50. 3,609,482 shares of the company were exchanged, compared to its average volume of 1,963,536. The business has a fifty day moving average of $185.96 and a 200 day moving average of $221.16. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a market capitalization of $16.46 billion, a PE ratio of -176.75 and a beta of 1.39.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The firm had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same period in the prior year, the company posted $0.51 earnings per share. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. Research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current 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.