Jones Financial Companies Lllp Has $1.75 Million Position in MongoDB, Inc. $MDB

Key Points

• Jones Financial Companies Lllp significantly increased its stake in MongoDB, Inc. by purchasing an additional 8,927 shares, raising its total holdings to nearly 9,947 shares, valued at approximately $1.75 million.
• Multiple analysts have raised their price targets for MongoDB, with recommendations now ranging from $325.00 to $350.00, indicating a strong bullish sentiment towards the stock.
• Insider trading activity included CEO Dev Ittycheria selling 33,320 shares valued at over $10 million, reducing his ownership stake by 14.09%.

Jones Financial Companies Lllp boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 875.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,947 shares of the company's stock after purchasing an additional 8,927 shares during the quarter. Jones Financial Companies Lllp's holdings in MongoDB were worth $1,745,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. 111 Capital bought a new stake in shares of MongoDB in the fourth quarter valued at about $390,000. Park Avenue Securities LLC boosted its position in shares of MongoDB by 52.6% in the first quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock valued at $461,000 after acquiring an additional 907 shares during the period. Cambridge Investment Research Advisors Inc. boosted its position in shares of MongoDB by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock valued at $1,359,000 after acquiring an additional 298 shares during the period. Sowell Financial Services LLC bought a new stake in shares of MongoDB in the first quarter valued at about $263,000. Finally, Farther Finance Advisors LLC boosted its position in shares of MongoDB by 57.2% in the first quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock valued at $219,000 after acquiring an additional 452 shares during the period. Institutional investors own 89.29% of the company's stock.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $225.00, for a total value of $225,000.00. Following the completion of the transaction, the director owned 1,105,316 shares of the company's stock, valued at approximately $248,696,100. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 59,730 shares of company stock valued at $16,292,409. 3.10% of the stock is owned by company insiders.

MongoDB Stock Up 1.2%

Shares of MDB stock traded up $3.87 on Monday, reaching $333.97. The company had a trading volume of 3,543,611 shares, compared to its average volume of 3,906,029. The stock has a market capitalization of $27.17 billion, a PE ratio of -340.79 and a beta of 1.49. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The business's 50-day moving average is $248.69 and its 200 day moving average is $209.72.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on MDB shares. The Goldman Sachs Group boosted their target price on shares of MongoDB from $270.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Robert W. Baird boosted their target price on shares of MongoDB from $260.00 to $335.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. BMO Capital Markets boosted their target price on shares of MongoDB from $280.00 to $315.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Citigroup boosted their price target on MongoDB from $405.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Finally, Macquarie upped their price objective on shares of MongoDB from $230.00 to $265.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat, MongoDB presently has an average rating of "Moderate Buy" and a consensus target price of $316.29.

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.