NorthCrest Asset Manangement LLC Purchases New Holdings in MongoDB, Inc. $MDB

Key Points

• NorthCrest Asset Management LLC has acquired a new stake in MongoDB, Inc., purchasing 1,185 shares valued at approximately $251,000 during the second quarter.
• According to recent analyst reports, Wedbush and Guggenheim have both raised their price targets for MDB shares to $400, reflecting a strong positive outlook for the company.
• MongoDB's stock has shown significant movement, currently priced at $323.43 and up by 2.3%, with a market cap of $26.31 billion.

NorthCrest Asset Manangement LLC acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,185 shares of the company's stock, valued at approximately $251,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDB. Cloud Capital Management LLC purchased a new position in MongoDB during the first quarter valued at approximately $25,000. Hollencrest Capital Management purchased a new position in MongoDB during the 1st quarter valued at about $26,000. Cullen Frost Bankers Inc. raised its stake in shares of MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after acquiring an additional 120 shares in the last quarter. State of Wyoming purchased a new stake in shares of MongoDB in the 1st quarter valued at approximately $62,000. Finally, Brooklyn Investment Group lifted its holdings in shares of MongoDB by 247.9% in the 1st quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after purchasing an additional 290 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the firm's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $326.25, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer directly owned 11,598 shares in the company, valued at $3,783,847.50. This trade represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 33,320 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the sale, the chief executive officer directly owned 203,237 shares of the company's stock, valued at $61,233,275.73. This represents a 14.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,730 shares of company stock worth $16,441,331 in the last ninety days. Insiders own 3.10% of the company's stock.

MongoDB Trading Up 0.0%

MongoDB stock traded up $0.16 during mid-day trading on Monday, hitting $323.59. The stock had a trading volume of 1,920,967 shares, compared to its average volume of 4,156,311. The stock has a market capitalization of $26.33 billion, a PE ratio of -330.19 and a beta of 1.49. The stock has a 50-day simple moving average of $260.02 and a two-hundred day simple moving average of $212.85. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00.

Analyst Ratings Changes

MDB has been the subject of a number of recent analyst reports. JMP Securities raised their price objective on shares of MongoDB from $345.00 to $375.00 and gave the company a "market outperform" rating in a research report on Friday. Needham & Company LLC raised their price objective on MongoDB from $325.00 to $365.00 and gave the company a "buy" rating in a research report on Friday. Citigroup reaffirmed an "outperform" rating on shares of MongoDB in a report on Friday. Piper Sandler raised their target price on MongoDB from $345.00 to $400.00 and gave the company an "overweight" rating in a research note on Thursday. Finally, Cantor Fitzgerald boosted their price target on shares of MongoDB from $312.00 to $406.00 and gave the company an "overweight" rating in a report on Thursday. One equities research 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $336.83.

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.