LPL Financial LLC Grows Stake in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• LPL Financial LLC increased its holdings in MongoDB, Inc. by 30.4% during the first quarter, acquiring an additional 11,160 shares, bringing their total ownership to about 0.06%, valued at $8,389,000.
• Corporate insiders sold a total of 51,416 shares of MongoDB stock worth approximately $11.9 million in the last 90 days, indicating a decrease in their positions.
• Analysts have shown optimism with upgrades and target price adjustments for the stock, with a consensus rating of "Moderate Buy" and an average target price of $281.31.

LPL Financial LLC increased its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 30.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 47,830 shares of the company's stock after acquiring an additional 11,160 shares during the quarter. LPL Financial LLC owned approximately 0.06% of MongoDB worth $8,389,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of MDB. O Shaughnessy Asset Management LLC increased its position in MongoDB by 4.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,647 shares of the company's stock worth $383,000 after buying an additional 75 shares during the last quarter. Cerity Partners LLC increased its position in MongoDB by 6.4% in the fourth quarter. Cerity Partners LLC now owns 9,674 shares of the company's stock worth $2,388,000 after buying an additional 580 shares during the last quarter. Treasurer of the State of North Carolina increased its position in MongoDB by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 31,942 shares of the company's stock worth $7,436,000 after buying an additional 200 shares during the last quarter. Summit Investment Advisors Inc. increased its position in MongoDB by 5.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 2,350 shares of the company's stock worth $547,000 after buying an additional 127 shares during the last quarter. Finally, Senvest Management LLC purchased a new stake in MongoDB in the fourth quarter worth $13,759,000. 89.29% of the stock is currently owned by institutional investors.

Insider Activity

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Monday, July 28th. The stock was sold at an average price of $243.89, for a total value of $2,032,823.15. Following the completion of the sale, the chief executive officer owned 236,557 shares in the company, valued at approximately $57,693,886.73. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the sale, the director owned 1,104,316 shares of the company's stock, valued at approximately $270,557,420. This trade represents a 0.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 51,416 shares of company stock valued at $11,936,656. Insiders own 3.10% of the company's stock.

MongoDB Stock Down 0.2%

Shares of NASDAQ MDB traded down $0.39 during midday trading on Wednesday, reaching $207.43. The company had a trading volume of 2,315,402 shares, compared to its average volume of 2,322,012. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The firm's fifty day moving average price is $215.70 and its 200-day moving average price is $210.43. The stock has a market cap of $16.95 billion, a PE ratio of -181.96 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter in the previous year, the company posted $0.51 EPS. MongoDB's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on MDB. Redburn Atlantic raised MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price for the company in a research report on Thursday, April 17th. Macquarie reiterated a "neutral" rating and issued a $230.00 price target (up from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Barclays lifted their price target on MongoDB from $252.00 to $270.00 and gave the company an "overweight" rating in a research report on Thursday, June 5th. Wedbush reiterated an "outperform" rating and issued a $300.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Finally, Loop Capital cut MongoDB from a "buy" rating to a "hold" rating and reduced their target price for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $281.31.

About MongoDB

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.