Nissay Asset Management Corp Japan ADV Raises Stake in MongoDB, Inc. $MDB

Nissay Asset Management Corp Japan ADV raised its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 10.8% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,330 shares of the company's stock after buying an additional 1,787 shares during the quarter. Nissay Asset Management Corp Japan ADV's holdings in MongoDB were worth $3,215,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. 111 Capital purchased a new stake in MongoDB in the 4th quarter valued at $390,000. Park Avenue Securities LLC grew its holdings in shares of MongoDB by 52.6% during the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock worth $461,000 after purchasing an additional 907 shares during the period. Cambridge Investment Research Advisors Inc. grew its holdings in shares of MongoDB by 4.0% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock worth $1,359,000 after purchasing an additional 298 shares during the period. Sowell Financial Services LLC purchased a new position in shares of MongoDB during the 1st quarter worth $263,000. Finally, Farther Finance Advisors LLC grew its holdings in shares of MongoDB by 57.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock worth $219,000 after purchasing an additional 452 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Trading Up 0.8%

MDB opened at $324.74 on Monday. The stock's 50-day moving average price is $234.03 and its 200 day moving average price is $207.01. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The firm has a market cap of $26.42 billion, a price-to-earnings ratio of -331.37 and a beta of 1.49.

Analysts Set New Price Targets

A number of research firms have recently weighed in on MDB. Wolfe Research increased their price target on MongoDB from $280.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Canaccord Genuity Group increased their price target on MongoDB from $320.00 to $340.00 and gave the stock a "buy" rating in a report on Thursday, August 28th. Cantor Fitzgerald increased their price target on MongoDB from $271.00 to $312.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Stifel Nicolaus increased their price target on MongoDB from $275.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Finally, Piper Sandler increased their price target on MongoDB from $275.00 to $345.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and an average price target of $310.86.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $225.00, for a total transaction of $225,000.00. Following the transaction, the director owned 1,105,316 shares of the company's stock, valued at approximately $248,696,100. This represents a 0.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 33,320 shares of the stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the transaction, the chief executive officer directly owned 203,237 shares in the company, valued at approximately $61,233,275.73. The trade was a 14.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,730 shares of company stock worth $15,966,159 in the last 90 days. Insiders own 3.10% of the company's stock.

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.

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