Massachusetts Financial Services Co. MA Acquires New Position in MongoDB, Inc. (NASDAQ:MDB)

Massachusetts Financial Services Co. MA acquired a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 81,961 shares of the company's stock, valued at approximately $14,376,000. Massachusetts Financial Services Co. MA owned approximately 0.10% of MongoDB at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in MongoDB in the 1st quarter worth $25,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB in the fourth quarter worth about $29,000. Coppell Advisory Solutions LLC boosted its stake in MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after buying an additional 182 shares during the last quarter. Aster Capital Management DIFC Ltd purchased a new position in shares of MongoDB in the fourth quarter valued at $97,000. Finally, Fifth Third Bancorp increased its position 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 last quarter. 89.29% of the stock is owned by institutional investors.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the transaction, the chief executive officer owned 256,974 shares in the company, valued at approximately $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the transaction, the director owned 1,107,006 shares in the company, valued at $259,039,404. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 32,746 shares of company stock valued at $7,500,196. Corporate insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MDB. Guggenheim raised their price objective on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. William Blair reissued an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. UBS Group raised their target price on shares of MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a report on Thursday, June 5th. Mizuho cut their price target on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, Royal Bank Of Canada reissued an "outperform" rating and issued a $320.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $281.35.

MongoDB Trading Up 1.2%

NASDAQ MDB opened at $221.21 on Friday. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The company has a fifty day simple moving average of $202.71 and a two-hundred day simple moving average of $213.05. The stock has a market cap of $18.08 billion, a P/E ratio of -194.04 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $527.49 million. During the same period last year, the firm posted $0.51 EPS. MongoDB's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.

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