Welch & Forbes LLC Purchases 6,630 Shares of MongoDB, Inc. (NASDAQ:MDB)

Welch & Forbes LLC boosted its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 30,948 shares of the company's stock after buying an additional 6,630 shares during the quarter. Welch & Forbes LLC's holdings in MongoDB were worth $5,428,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Cullen Frost Bankers Inc. boosted its stake in MongoDB by 315.8% in the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after purchasing an additional 120 shares during the period. Bridgewater Advisors Inc. acquired a new position in MongoDB in the 1st quarter worth approximately $202,000. Wealthfront Advisers LLC boosted its stake in MongoDB by 4.1% in the 1st quarter. Wealthfront Advisers LLC now owns 4,511 shares of the company's stock worth $791,000 after purchasing an additional 179 shares during the period. Massachusetts Financial Services Co. MA acquired a new position in MongoDB in the 1st quarter worth approximately $14,376,000. Finally, OVERSEA CHINESE BANKING Corp Ltd boosted its stake in MongoDB by 14.1% in the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 19,206 shares of the company's stock worth $3,369,000 after purchasing an additional 2,371 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Activity at MongoDB

In other news, Director Hope F. Cochran sold 1,174 shares of the business'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 directly owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 3,747 shares of the business's stock in a transaction dated Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total transaction of $772,069.35. Following the transaction, the chief executive officer owned 253,227 shares in the company, valued at $52,177,423.35. This represents a 1.46% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,746 shares of company stock valued at $7,500,196. 3.10% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on MDB shares. Guggenheim lifted their target price on shares of MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Stifel Nicolaus decreased their target price on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Truist Financial decreased their target price on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wolfe Research initiated coverage on shares of MongoDB in a report on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price target on the stock. Finally, Stephens initiated coverage on shares of MongoDB in a report on Friday. They set an "equal weight" rating and a $247.00 price target on the stock. Nine investment analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus price target of $281.35.

MongoDB Price Performance

Shares of MDB stock traded up $2.68 during trading hours on Friday, reaching $221.21. 1,822,164 shares of the company were exchanged, compared to its average volume of 1,986,813. The stock's fifty day moving average is $202.71 and its two-hundred day moving average is $212.83. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The company has a market cap of $18.08 billion, a price-to-earnings ratio of -194.04 and a beta of 1.41.

MongoDB (NASDAQ:MDB - Get Free Report) last announced 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 business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. MongoDB's revenue was up 21.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.51 earnings per share. On average, research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.