Kera Capital Partners Inc. Makes New $375,000 Investment in MongoDB, Inc. $MDB

Key Points

• Kera Capital Partners Inc. has made a new investment in MongoDB, Inc. by acquiring a stake worth approximately $375,000 in the second quarter, purchasing 1,787 shares.
• Institutional investors now own 89.29% of MongoDB's stock, with multiple hedge funds increasing their stakes significantly in recent months.
• Wall Street analysts are optimistic, with several firms raising their target prices for MongoDB stock, indicating a consensus rating of "Moderate Buy" and a target price of $310.86.

Kera Capital Partners Inc. bought a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,787 shares of the company's stock, valued at approximately $375,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in MongoDB by 6.6% during the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after purchasing an additional 481,023 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in MongoDB by 11.3% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company's stock valued at $223,011,000 after buying an additional 129,451 shares in the last quarter. Amundi grew its position in MongoDB by 53.0% in the first quarter. Amundi now owns 1,061,457 shares of the company's stock valued at $173,378,000 after acquiring an additional 367,717 shares during the period. Jericho Capital Asset Management L.P. bought a new stake in MongoDB in the first quarter valued at $161,543,000. Finally, Primecap Management Co. CA raised its stake in MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after acquiring an additional 780,200 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Transactions at MongoDB

In other news, Director Charles M. Hazard, Jr. sold 166 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total transaction of $51,460.00. Following the completion of the transaction, the director directly owned 14,493 shares in the company, valued at approximately $4,492,830. The trade was a 1.13% decrease in their position. 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 company's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the completion of the sale, the chief executive officer directly owned 203,237 shares of the company's stock, valued at $61,233,275.73. The trade was a 14.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,730 shares of company stock valued at $16,292,409 in the last three months. Company insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

MDB has been the topic of several analyst reports. Guggenheim upped their target price on shares of MongoDB from $260.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Scotiabank boosted their price target 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. Sanford C. Bernstein raised their price objective on shares of MongoDB from $319.00 to $338.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. The Goldman Sachs Group lifted their target price on shares of MongoDB from $270.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Finally, Truist Financial increased their price target on MongoDB from $275.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $310.86.

MongoDB Stock Performance

NASDAQ MDB opened at $330.10 on Friday. The stock has a market capitalization of $26.86 billion, a P/E ratio of -336.84 and a beta of 1.49. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00. The stock has a fifty day moving average of $246.21 and a 200-day moving average of $209.62.

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.

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