MongoDB, Inc. $MDB Holdings Cut by Lbp Am Sa

Key Points

• Lbp Am Sa has reduced its stake in MongoDB, Inc. by 2.7%, now owning approximately 0.13% of the company, valued at $22.8 million.
• MongoDB's stock has seen significant interest from hedge funds, which own 89.29% of the company's stock, with multiple firms increasing their stakes in the 1st quarter of this year.
• Analysts have raised their price targets for MongoDB, with Cantor Fitzgerald now setting a target of $406, indicating strong confidence in the company's growth potential.

Lbp Am Sa decreased its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 2.7% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,737 shares of the company's stock after selling 3,069 shares during the quarter. Lbp Am Sa owned approximately 0.13% of MongoDB worth $22,834,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cloud Capital Management LLC purchased a new stake in MongoDB in the 1st quarter worth approximately $25,000. Hollencrest Capital Management purchased a new stake in MongoDB in the 1st quarter worth approximately $26,000. Cullen Frost Bankers Inc. lifted its position in MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after buying an additional 120 shares in the last quarter. State of Wyoming bought a new position in shares of MongoDB during the 1st quarter valued at $62,000. Finally, Brooklyn Investment Group raised its holdings in shares of MongoDB by 247.9% during the 1st quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after purchasing an additional 290 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Price Performance

Shares of MDB opened at $310.38 on Wednesday. The company has a market capitalization of $25.25 billion, a PE ratio of -316.71 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 company's fifty day moving average price is $271.84 and its 200 day moving average price is $217.99.

Analysts Set New Price Targets

MDB has been the topic of a number of recent research reports. Cantor Fitzgerald raised their price target on shares of MongoDB from $312.00 to $406.00 and gave the company an "overweight" rating in a report on Thursday, September 18th. DA Davidson raised their price target on shares of MongoDB from $325.00 to $365.00 and gave the company a "buy" rating in a report on Thursday, September 18th. Robert W. Baird raised their price target on shares of MongoDB from $260.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Guggenheim raised their price target on shares of MongoDB from $310.00 to $400.00 and gave the company a "buy" rating in a report on Monday, September 15th. Finally, Wedbush raised their price target on shares of MongoDB from $300.00 to $400.00 and gave the company an "outperform" rating in a report on Monday, September 15th. One research analyst has rated the stock with a Strong Buy rating, twenty-eight have assigned a Buy rating and nine have given a Hold rating to the company's stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average target price of $342.69.

Insider Buying and Selling

In other MongoDB news, Director Charles M. Hazard, Jr. sold 166 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $310.00, for a total value of $51,460.00. Following the sale, the director directly owned 14,493 shares in the company, valued at $4,492,830. This trade represents a 1.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of the firm's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $320.80, for a total transaction of $1,924,800.00. Following the completion of the sale, the director owned 514,896 shares in the company, valued at $165,178,636.80. This represents a 1.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,163 shares of company stock worth $31,862,322. 3.10% of the stock is currently owned by corporate 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.

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