MongoDB, Inc. (NASDAQ:MDB) Shares Bought by Red Spruce Capital LLC

Red Spruce Capital LLC increased its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 51.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,107 shares of the company's stock after acquiring an additional 4,104 shares during the period. Red Spruce Capital LLC's holdings in MongoDB were worth $2,124,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Blue Trust Inc. raised its stake in MongoDB by 59.4% in the fourth quarter. Blue Trust Inc. now owns 1,478 shares of the company's stock valued at $344,000 after buying an additional 551 shares in the last quarter. KBC Group NV raised its stake in MongoDB by 5.2% in the fourth quarter. KBC Group NV now owns 18,079 shares of the company's stock valued at $4,209,000 after buying an additional 890 shares in the last quarter. Pacer Advisors Inc. raised its stake in MongoDB by 12.6% in the fourth quarter. Pacer Advisors Inc. now owns 5,504 shares of the company's stock valued at $1,281,000 after buying an additional 615 shares in the last quarter. Perigon Wealth Management LLC raised its stake in MongoDB by 2.7% in the fourth quarter. Perigon Wealth Management LLC now owns 2,528 shares of the company's stock valued at $627,000 after buying an additional 66 shares in the last quarter. Finally, R Squared Ltd acquired a new stake in MongoDB in the fourth quarter valued at $163,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares of the company's stock, valued at $2,529,103.50. The trade was a 2.02% 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, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the transaction, the chief financial officer now owns 6,406 shares in the company, valued at $1,109,903.56. The trade was a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 22,203 shares of company stock valued at $3,848,569 over the last quarter. Company insiders own 3.10% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on MDB. UBS Group set a $350.00 price target on MongoDB in a research note on Tuesday, March 4th. Guggenheim cut their price target on MongoDB from $300.00 to $235.00 and set a "buy" rating on the stock in a research note on Wednesday, May 28th. Barclays cut their target price on MongoDB from $280.00 to $252.00 and set an "overweight" rating on the stock in a research report on Friday, May 16th. Needham & Company LLC cut their target price on MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a research report on Thursday, March 6th. Finally, Morgan Stanley cut their target price on MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Nine investment analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $286.88.

MongoDB Price Performance

MongoDB stock traded down $0.36 during mid-day trading on Tuesday, hitting $192.64. 1,073,309 shares of the company were exchanged, compared to its average volume of 1,890,704. The business's 50 day simple moving average is $174.12 and its two-hundred day simple moving average is $231.29. The company has a market capitalization of $15.64 billion, a P/E ratio of -70.31 and a beta of 1.40. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to analysts' expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the business posted $0.86 EPS. Equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

MongoDB Company 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.