Covea Finance Increases Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Covea Finance grew its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 72.1% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & 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 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in MongoDB during the 4th quarter worth about $189,584,000. Marshall Wace LLP purchased a new stake in MongoDB during the 4th quarter worth about $110,356,000. Raymond James Financial Inc. purchased a new stake in MongoDB during the 4th quarter worth about $90,478,000. D1 Capital Partners L.P. purchased a new stake in MongoDB during the 4th quarter worth about $76,129,000. Finally, Amundi increased its position in MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company's stock worth $172,519,000 after purchasing an additional 321,186 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the 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 sale, the director now directly owns 19,333 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the sale, the chief executive officer now directly owns 256,974 shares in the company, valued at $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 50,382 shares of company stock worth $10,403,807 in the last three months. 3.10% of the stock is owned by insiders.

MongoDB Stock Performance

MongoDB stock opened at $201.50 on Friday. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The stock's 50 day moving average price is $185.18 and its 200 day moving average price is $222.83. The firm 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 posted 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 company had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. During the same period in the previous year, the business earned $0.51 EPS. MongoDB's revenue for the quarter was up 21.8% compared to the same quarter last year. On average, analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on MDB shares. Daiwa America upgraded MongoDB to a "strong-buy" rating in a research report on Tuesday, April 1st. Needham & Company LLC restated a "buy" rating and issued a $270.00 price target on shares of MongoDB in a report on Thursday, June 5th. Bank of America lifted their price target on MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, June 5th. UBS Group lifted their price target on MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a report on Thursday, June 5th. Finally, Robert W. Baird lowered their price target on MongoDB from $390.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Eight 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. According to MarketBeat.com, MongoDB has a consensus rating of "Moderate Buy" and a consensus price target of $282.47.

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.

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