Covea Finance Purchases 11,900 Shares of MongoDB, Inc. (NASDAQ:MDB)

Covea Finance grew its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 72.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,400 shares of the company's stock after buying an additional 11,900 shares during the quarter. Covea Finance's holdings in MongoDB were worth $4,981,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in MDB. HighTower Advisors LLC lifted its position in MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock worth $4,371,000 after purchasing an additional 372 shares during the period. Jones Financial Companies Lllp raised its stake 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 worth $237,000 after buying an additional 413 shares in the last quarter. Smartleaf Asset Management LLC lifted its holdings in shares of MongoDB by 56.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock valued at $87,000 after buying an additional 134 shares during the period. 111 Capital bought a new position in MongoDB during the fourth quarter valued at about $390,000. Finally, Park Avenue Securities LLC grew its holdings 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 period. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This represents a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director now directly owns 21,096 shares in the company, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 50,382 shares of company stock worth $10,403,807 over the last ninety days. Company insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

MDB has been the subject of several research reports. Needham & Company LLC restated a "buy" rating and set a $270.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Loop Capital cut shares of MongoDB from a "buy" rating to a "hold" rating and reduced their target price for the stock from $350.00 to $190.00 in a report on Tuesday, May 20th. Daiwa America raised MongoDB to a "strong-buy" rating in a report on Tuesday, April 1st. Barclays raised their price objective on MongoDB from $252.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Finally, Redburn Atlantic raised MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price on the stock in a research report on Thursday, April 17th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $282.47.

MongoDB Stock Performance

Shares of NASDAQ MDB traded up $6.01 during mid-day trading on Tuesday, reaching $209.25. 1,912,944 shares of the company traded hands, compared to its average volume of 1,961,941. The company's fifty day moving average is $187.88 and its two-hundred day moving average is $219.31. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The stock has a market cap of $17.10 billion, a PE ratio of -183.55 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last announced 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 return on equity of 3.16% and a negative net margin of 4.09%. The company had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. During the same quarter last year, the company posted $0.51 earnings per share. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current 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.