Fiera Capital Corp Has $53.09 Million Position in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Fiera Capital Corp increased its holdings in MongoDB, Inc. by 38.2%, purchasing 83,627 additional shares and bringing their total to 302,671 shares valued at approximately $53 million.
• Analysts have a consensus target price of $281.31 for MongoDB, with 27 buy ratings and a mix of hold ratings from several firms, reflecting strong investor optimism.
• MongoDB's most recent quarterly earnings report showed a revenue of $549.01 million, surpassing estimates and indicating a year-over-year growth of 21.8%.

Fiera Capital Corp increased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 38.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 302,671 shares of the company's stock after purchasing an additional 83,627 shares during the quarter. Fiera Capital Corp owned approximately 0.37% of MongoDB worth $53,088,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in MDB. LPL Financial LLC grew its holdings in MongoDB by 30.4% during the 1st quarter. LPL Financial LLC now owns 47,830 shares of the company's stock worth $8,389,000 after acquiring an additional 11,160 shares during the last quarter. TD Asset Management Inc grew its holdings in MongoDB by 0.7% during the 1st quarter. TD Asset Management Inc now owns 60,052 shares of the company's stock worth $10,533,000 after acquiring an additional 419 shares during the last quarter. Mediolanum International Funds Ltd bought a new stake in MongoDB during the 1st quarter worth about $1,597,000. Zweig DiMenna Associates LLC bought a new stake in MongoDB during the 1st quarter worth about $1,316,000. Finally, Glynn Capital Management LLC grew its holdings in MongoDB by 13.9% during the 1st quarter. Glynn Capital Management LLC now owns 96,719 shares of the company's stock worth $16,965,000 after acquiring an additional 11,839 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MDB shares. DA Davidson reissued a "buy" rating and set a $275.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Barclays increased their price objective on shares of MongoDB from $252.00 to $270.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. JMP Securities reaffirmed a "market outperform" rating and issued a $345.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Stifel Nicolaus reduced their target price on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. Finally, Loop Capital lowered shares of MongoDB from a "buy" rating to a "hold" rating and reduced their target price for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $281.31.

Insider Buying and Selling

In related news, CEO Dev Ittycheria sold 25,005 shares of the business's stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the transaction, the chief executive officer directly owned 256,974 shares in the company, valued at approximately $60,131,916. The trade was 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 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 owned 21,096 shares in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,416 shares of company stock worth $11,936,656. Insiders own 3.10% of the company's stock.

MongoDB Trading Down 6.9%

Shares of NASDAQ MDB traded down $16.46 during midday trading on Friday, reaching $221.43. The company's stock had a trading volume of 1,906,888 shares, compared to its average volume of 2,295,714. 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 capitalization of $18.09 billion, a price-to-earnings ratio of -194.21 and a beta of 1.41. The stock has a 50 day simple moving average of $210.80 and a 200-day simple moving average of $212.59.

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, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. During the same period last year, the company earned $0.51 earnings per share. The firm's revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts anticipate that MongoDB, Inc. will post -1.78 EPS 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.