MongoDB, Inc. $MDB Position Boosted by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC increased its stake in MongoDB by 26.1%, owning 65,953 shares worth approximately $11.57 million after acquiring an additional 13,632 shares.
• Multiple analysts have raised their price targets for MongoDB, with Piper Sandler increasing theirs from $275 to $345, reflecting a positive outlook on the stock.
• Insider trading activity included the sale of 25,005 shares by CEO Dev Ittycheria, reducing his stake by 8.87% to 256,974 shares valued at approximately $60.13 million.

Rafferty Asset Management LLC boosted its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 26.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,953 shares of the company's stock after buying an additional 13,632 shares during the quarter. Rafferty Asset Management LLC owned 0.08% of MongoDB worth $11,568,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. 111 Capital acquired a new position in MongoDB in the 4th quarter worth $390,000. Park Avenue Securities LLC lifted its holdings in MongoDB by 52.6% in the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock worth $461,000 after buying an additional 907 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in MongoDB by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock worth $1,359,000 after buying an additional 298 shares in the last quarter. Sowell Financial Services LLC acquired a new position in MongoDB in the 1st quarter worth $263,000. Finally, Farther Finance Advisors LLC lifted its holdings in MongoDB by 57.2% in the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock worth $219,000 after buying an additional 452 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on MDB shares. Morgan Stanley boosted their target price on shares of MongoDB from $255.00 to $325.00 and gave the stock an "overweight" rating in a research report on Thursday, August 28th. Monness Crespi & Hardt lifted their price target on shares of MongoDB from $295.00 to $360.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Truist Financial lifted their price target on shares of MongoDB from $275.00 to $330.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Oppenheimer lifted their price target on shares of MongoDB from $275.00 to $325.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Finally, Needham & Company LLC lifted their price target on shares of MongoDB from $270.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat.com, MongoDB has an average rating of "Moderate Buy" and an average target price of $310.86.

MongoDB Stock Up 0.8%

Shares of NASDAQ:MDB opened at $318.29 on Wednesday. The company has a market cap of $26.01 billion, a PE ratio of -324.79 and a beta of 1.49. The company's 50-day moving average price is $227.35 and its 200 day moving average price is $207.05. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. MongoDB's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the firm posted $0.51 EPS. As a group, equities analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $468,000.00. Following the transaction, the director directly owned 1,107,006 shares in the company, valued at approximately $259,039,404. The trade was a 0.18% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 84,736 shares of company stock valued at $21,975,639. Company insiders own 3.10% of the company's stock.

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.