MongoDB, Inc. $MDB Shares Acquired by IFM Investors Pty Ltd

Key Points

• IFM Investors Pty Ltd increased its stake in MongoDB, Inc. by 15.6%, holding 15,951 shares valued at approximately $3,350,000.
• Multiple analysts raised their price targets for MongoDB, with BMO Capital Markets now suggesting a target of $365.00 and Bank of America increasing theirs to $380.00.
• Insider trading activity shows directors selling shares, with one transaction involving 166 shares sold at an average price of $310.00.

IFM Investors Pty Ltd grew its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 15.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,951 shares of the company's stock after acquiring an additional 2,155 shares during the quarter. IFM Investors Pty Ltd's holdings in MongoDB were worth $3,350,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of MDB. Cloud Capital Management LLC acquired a new stake in shares of MongoDB in the first quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new stake in shares of MongoDB in the first quarter valued at approximately $26,000. Cullen Frost Bankers Inc. boosted its holdings in shares of MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 shares during the period. State of Wyoming acquired a new stake in shares of MongoDB in the first quarter valued at approximately $62,000. Finally, Brooklyn Investment Group boosted its holdings in shares of MongoDB by 247.9% in the first quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after acquiring an additional 290 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on MDB shares. BMO Capital Markets increased their price objective on MongoDB from $315.00 to $365.00 and gave the company an "outperform" rating in a report on Thursday, September 18th. Macquarie increased their price target on MongoDB from $265.00 to $305.00 and gave the stock a "neutral" rating in a report on Thursday, September 18th. Bank of America increased their price target on MongoDB from $345.00 to $380.00 and gave the stock a "buy" rating in a report on Thursday, September 18th. Cantor Fitzgerald increased their price target on MongoDB from $312.00 to $406.00 and gave the stock an "overweight" rating in a report on Thursday, September 18th. Finally, Wall Street Zen raised MongoDB from a "hold" rating to a "buy" rating in a report on Saturday. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $336.83.

Insider Activity

In related news, Director Charles M. Hazard, Jr. sold 166 shares of MongoDB 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 sale, the director owned 14,493 shares in the company, valued at approximately $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 can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction dated Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the sale, the director owned 1,104,316 shares of the company's stock, valued at approximately $270,557,420. This represents a 0.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,730 shares of company stock worth $16,441,331 in the last quarter. Corporate insiders own 3.10% of the company's stock.

MongoDB Trading Up 0.0%

MongoDB stock opened at $323.59 on Tuesday. The stock has a market cap of $26.33 billion, a PE ratio of -330.19 and a beta of 1.49. The stock has a 50-day moving average price of $260.02 and a 200 day moving average price of $212.85. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00.

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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