Exchange Traded Concepts LLC Purchases 7,472 Shares of MongoDB, Inc. (NASDAQ:MDB)

Exchange Traded Concepts LLC raised its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 92.3% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,571 shares of the company's stock after buying an additional 7,472 shares during the period. Exchange Traded Concepts LLC's holdings in MongoDB were worth $2,731,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in MDB. Vanguard Group Inc. raised its stake in MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock valued at $1,706,205,000 after acquiring an additional 23,942 shares during the period. Franklin Resources Inc. boosted its holdings in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares during the period. Geode Capital Management LLC grew its stake in MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after buying an additional 22,106 shares during the last quarter. First Trust Advisors LP raised its holdings in MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock valued at $199,031,000 after acquiring an additional 95,893 shares during the period. Finally, Norges Bank acquired a new stake in MongoDB during the fourth quarter worth approximately $189,584,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MongoDB

In other MongoDB news, 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 directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction 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 trade represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,208 shares of company stock valued at $10,167,739. Corporate insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on MDB. Wedbush reaffirmed an "outperform" rating and issued a $300.00 target price on shares of MongoDB in a research report on Thursday, June 5th. UBS Group increased their price objective on MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Piper Sandler boosted their target price on shares of MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Cantor Fitzgerald upped their price target on shares of MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Finally, Canaccord Genuity Group dropped their price objective on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $282.47.

MongoDB Price Performance

Shares of MongoDB stock traded up $3.10 during midday trading on Tuesday, reaching $205.60. The company had a trading volume of 1,852,561 shares, compared to its average volume of 1,955,294. The stock has a fifty day moving average price of $182.98 and a 200 day moving average price of $223.93. 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 $16.69 billion, a PE ratio of -75.04 and a beta of 1.39.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the previous year, the company earned $0.51 EPS. The company's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, sell-side analysts forecast that MongoDB, Inc. will post -1.78 EPS 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.