MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by Welch & Forbes LLC

Welch & Forbes LLC increased its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 27.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. 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.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Cloud Capital Management LLC purchased a new stake in MongoDB in the first quarter worth $25,000. Cullen Frost Bankers Inc. increased its stake in MongoDB by 315.8% in the first 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. Strategic Investment Solutions Inc. IL purchased a new position in shares of MongoDB during the fourth quarter valued at $29,000. Coppell Advisory Solutions LLC increased its stake in shares of MongoDB by 364.0% during the fourth quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after buying an additional 182 shares during the period. Finally, Aster Capital Management DIFC Ltd purchased a new position in shares of MongoDB during the fourth quarter valued at $97,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 820 shares of the business's stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total transaction of $172,888.80. Following the completion of the sale, the director directly owned 1,106,186 shares in the company, valued at approximately $233,228,256.24. The trade was a 0.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dev Ittycheria sold 3,747 shares of the business's stock in a transaction on Wednesday, July 2nd. The stock was sold at an average price of $206.05, for a total value of $772,069.35. Following the transaction, the chief executive officer directly owned 253,227 shares in the company, valued at $52,177,423.35. This trade represents a 1.46% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,746 shares of company stock worth $7,500,196. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wolfe Research assumed coverage on MongoDB in a research note on Wednesday, July 9th. They set an "outperform" rating and a $280.00 price target on the stock. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target on the stock in a research note on Thursday, April 17th. Bank of America raised their price target on MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Guggenheim raised their price target on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research note on Thursday, June 5th. Finally, Truist Financial cut their price target on MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $281.35.

MongoDB Stock Up 1.2%

Shares of MongoDB stock traded up $2.68 on Friday, reaching $221.21. 1,822,164 shares of the stock were exchanged, compared to its average volume of 1,982,480. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The firm has a market capitalization of $18.08 billion, a price-to-earnings ratio of -194.04 and a beta of 1.41. The business has a 50 day moving average price of $201.86 and a two-hundred day moving average price of $213.26.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results 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 company had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB's quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business earned $0.51 earnings per share. Research analysts forecast that MongoDB, Inc. will post -1.78 EPS 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.