Jones Financial Companies Lllp Has $1.75 Million Stock Holdings 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 lifted its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 875.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,947 shares of the company's stock after buying an additional 8,927 shares during the quarter. Jones Financial Companies Lllp's holdings in MongoDB were worth $1,745,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Infinitum Asset Management LLC grew its stake in MongoDB by 71.4% in the 1st quarter. Infinitum Asset Management LLC now owns 60,000 shares of the company's stock valued at $10,524,000 after purchasing an additional 25,000 shares during the period. Nissay Asset Management Corp Japan ADV lifted its position in MongoDB by 10.8% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 18,330 shares of the company's stock valued at $3,215,000 after buying an additional 1,787 shares during the period. NewEdge Advisors LLC increased its holdings in shares of MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company's stock valued at $743,000 after acquiring an additional 1,504 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of MongoDB by 10.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,219 shares of the company's stock valued at $8,634,000 after acquiring an additional 4,692 shares in the last quarter. Finally, Insight Holdings Group LLC increased its holdings in MongoDB by 129.4% in the 1st quarter. Insight Holdings Group LLC now owns 25,000 shares of the company's stock worth $4,385,000 after buying an additional 14,100 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

MDB has been the topic of several recent research reports. Wolfe Research upped their price objective on MongoDB from $280.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Wedbush reiterated an "outperform" rating and set a $300.00 price objective on shares of MongoDB in a research report on Wednesday, August 27th. Needham & Company LLC upped their price target on MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $290.00 price objective on shares of MongoDB in a research report on Friday, August 22nd. Finally, Stephens began coverage on MongoDB in a research note on Friday, July 18th. They issued an "equal weight" rating and a $247.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $310.86.

MongoDB Trading Down 0.6%

Shares of NASDAQ:MDB traded down $2.00 on Friday, reaching $330.10. 1,282,574 shares of the company's stock were exchanged, compared to its average volume of 3,949,732. The company has a market capitalization of $26.86 billion, a price-to-earnings ratio of -336.84 and a beta of 1.49. The company has a fifty day moving average of $246.21 and a 200-day moving average of $210.02. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Charles M. Hazard, Jr. sold 833 shares of MongoDB stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $310.00, for a total transaction of $258,230.00. Following the completion of the transaction, the director directly owned 47,366 shares of the company's stock, valued at $14,683,460. The trade was a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 33,320 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the completion of the transaction, the chief executive officer owned 203,237 shares of the company's stock, valued at $61,233,275.73. This represents a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,730 shares of company stock valued at $16,292,409 in the last quarter. 3.10% of the stock is owned by company insiders.

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.