MongoDB, Inc. $MDB Shares Purchased by Curi RMB Capital LLC

Key Points

• Curi RMB Capital LLC increased its stake in MongoDB by 9.3% in the first quarter, acquiring 3,076 additional shares, resulting in a total ownership of 35,977 shares valued at approximately $6.31 million.
• Other institutional investors significantly boosted their positions, with Vanguard Group Inc. raising holdings by 6.6% and Primecap Management Co. increasing theirs by an extraordinary 863.5% during the same period.
• MongoDB's stock was recently rated with an average "Moderate Buy" and a consensus price target of $310.86, with multiple research firms issuing increased price targets following positive quarterly earnings results.

Curi RMB Capital LLC increased its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 35,977 shares of the company's stock after acquiring an additional 3,076 shares during the quarter. Curi RMB Capital LLC's holdings in MongoDB were worth $6,310,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of MDB. Brandywine Managers LLC lifted its stake in MongoDB by 22.5% during the first quarter. Brandywine Managers LLC now owns 3,501 shares of the company's stock worth $614,000 after purchasing an additional 642 shares during the period. Banque Transatlantique SA acquired a new position in MongoDB in the 1st quarter valued at about $452,000. AQR Capital Management LLC grew its position in shares of MongoDB by 12.3% during the 1st quarter. AQR Capital Management LLC now owns 41,678 shares of the company's stock worth $7,198,000 after purchasing an additional 4,552 shares in the last quarter. Alight Capital Management LP boosted its position in MongoDB by 57.9% in the first quarter. Alight Capital Management LP now owns 15,000 shares of the company's stock valued at $2,631,000 after buying an additional 5,500 shares in the last quarter. Finally, Alyeska Investment Group L.P. raised its stake in shares of MongoDB by 425.6% during the first quarter. Alyeska Investment Group L.P. now owns 556,144 shares of the company's stock valued at $97,548,000 after acquiring an additional 450,336 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 33,320 shares of the business's stock in a transaction dated 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 sale, the chief executive officer directly owned 203,237 shares in the company, valued at $61,233,275.73. This represents a 14.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the sale, the director owned 1,104,316 shares in the company, valued at $270,557,420. The trade was a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,730 shares of company stock worth $15,966,159 in the last quarter. 3.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on MDB shares. William Blair reissued an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. The Goldman Sachs Group increased their price target on shares of MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Barclays increased their target price on shares of MongoDB from $270.00 to $305.00 and gave the company an "overweight" rating in a report on Wednesday, August 27th. DA Davidson increased their price target on shares of MongoDB from $275.00 to $325.00 and gave the company a "buy" rating in a research report on Wednesday, August 27th. Finally, BMO Capital Markets lifted their price target on shares of MongoDB from $280.00 to $315.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. One 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $310.86.

MongoDB Stock Performance

MongoDB stock traded down $1.07 during midday trading on Monday, hitting $323.68. 926,430 shares of the company's stock were exchanged, compared to its average volume of 2,525,655. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The firm has a 50-day moving average of $234.03 and a two-hundred day moving average of $207.01. The company has a market cap of $26.33 billion, a PE ratio of -331.02 and a beta of 1.49.

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.