Garde Capital Inc. Grows Stake in MongoDB, Inc. $MDB

Key Points

• Garde Capital Inc. dramatically increased its stake in MongoDB, Inc. by 20,000% in the second quarter, owning a total of 1,005 shares, valued at approximately $211,000.
• Multiple hedge funds, including Handelsbanken Fonder AB and Fifth Third Bancorp, have also raised their positions in MongoDB, highlighting strong institutional interest with 89.29% of the company's stock now held by institutional investors.
• Analysts have upgraded their price targets for MongoDB, with a consensus target of $310.86, indicating a positive outlook for the company amid recent insider stock sales.

Garde Capital Inc. raised its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 20,000.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,005 shares of the company's stock after purchasing an additional 1,000 shares during the quarter. Garde Capital Inc.'s holdings in MongoDB were worth $211,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Handelsbanken Fonder AB grew its stake in shares of MongoDB by 0.4% during the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after buying an additional 65 shares during the last quarter. Wedbush Securities Inc. grew its position in MongoDB by 2.6% in the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock valued at $530,000 after acquiring an additional 77 shares during the last quarter. Fifth Third Bancorp increased its stake in MongoDB by 15.9% in the first quarter. Fifth Third Bancorp now owns 569 shares of the company's stock worth $100,000 after purchasing an additional 78 shares during the period. Arizona State Retirement System lifted its position in shares of MongoDB by 0.4% during the first quarter. Arizona State Retirement System now owns 21,504 shares of the company's stock worth $3,772,000 after purchasing an additional 83 shares during the last quarter. Finally, Moody National Bank Trust Division lifted its position in shares of MongoDB by 5.6% during the first quarter. Moody National Bank Trust Division now owns 1,751 shares of the company's stock worth $307,000 after purchasing an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insiders Place Their Bets

In other news, CEO Dev Ittycheria sold 33,320 shares of MongoDB stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the transaction, the chief executive officer directly owned 203,237 shares in the company, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the company's stock in a transaction on Tuesday, July 22nd. The stock was sold at an average price of $225.00, for a total value of $225,000.00. Following the sale, the director owned 1,105,316 shares of the company's stock, valued at $248,696,100. This trade represents a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 59,730 shares of company stock worth $16,292,409. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Stifel Nicolaus upped their price target on shares of MongoDB from $275.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Scotiabank boosted their price objective on shares of MongoDB from $230.00 to $280.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 27th. Cantor Fitzgerald upped their target price on shares of MongoDB from $271.00 to $312.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Loop Capital lowered 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 research report on Tuesday, May 20th. Finally, Morgan Stanley boosted their price target on MongoDB from $255.00 to $325.00 and gave the company an "overweight" rating in a report on Thursday, August 28th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $310.86.

MongoDB Stock Performance

MDB stock traded down $2.00 during trading on Friday, hitting $330.10. 1,282,574 shares of the company's stock traded hands, compared to its average volume of 3,906,029. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The business has a fifty day simple moving average of $246.21 and a two-hundred day simple moving average of $209.25.

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.