Federated Hermes Inc. Purchases New Stake in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Federated Hermes Inc. acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) during the first quarter, purchasing 10,031 shares valued at approximately $1.76 million.
• MongoDB's stock saw a rise of 3.3%, reaching $235.82, with a current market capitalization of $19.27 billion and a P/E ratio of -206.86.
• Recent analyst ratings indicate a diverse outlook on MongoDB, with 27 analysts giving buy ratings and an average price target of $281.31.

Federated Hermes Inc. bought a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 10,031 shares of the company's stock, valued at approximately $1,759,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC raised its holdings in shares of MongoDB by 4.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after acquiring an additional 75 shares in the last quarter. Prudential PLC grew its position in MongoDB by 55.9% in the 4th quarter. Prudential PLC now owns 3,444 shares of the company's stock valued at $802,000 after acquiring an additional 1,235 shares during the last quarter. Resona Asset Management Co. Ltd. purchased a new position in MongoDB in the 4th quarter worth about $4,866,000. Aviva PLC raised its stake in shares of MongoDB by 68.1% during the fourth quarter. Aviva PLC now owns 44,405 shares of the company's stock valued at $10,338,000 after acquiring an additional 17,992 shares in the last quarter. Finally, Wedbush Securities Inc. lifted its holdings in shares of MongoDB by 4.4% in the 4th quarter. Wedbush Securities Inc. now owns 2,945 shares of the company's stock worth $686,000 after buying an additional 125 shares during the period. Institutional investors own 89.29% of the company's stock.

MongoDB Stock Up 3.3%

NASDAQ:MDB traded up $7.57 during mid-day trading on Wednesday, reaching $235.82. 1,787,292 shares of the stock were exchanged, compared to its average volume of 2,182,441. The stock has a market capitalization of $19.27 billion, a P/E ratio of -206.86 and a beta of 1.44. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The company has a 50 day simple moving average of $214.05 and a 200-day simple moving average of $212.07.

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Monness Crespi & Hardt raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price objective on the stock in a research report on Thursday, June 5th. Piper Sandler upped their price objective on shares of MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Loop Capital lowered MongoDB from a "buy" rating to a "hold" rating and dropped their target price for the stock from $350.00 to $190.00 in a report on Tuesday, May 20th. Cantor Fitzgerald lifted their price objective on shares of MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Finally, Stifel Nicolaus cut their price objective on MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $281.31.

Insiders Place Their Bets

In other news, CEO Dev Ittycheria sold 25,005 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were 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 directly owned 256,974 shares of the company's stock, valued at approximately $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the sale, the director directly owned 1,107,006 shares of the company's stock, valued at approximately $259,039,404. This represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 51,416 shares of company stock valued at $11,936,656. Insiders own 3.10% of the company's stock.

About MongoDB

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.