Perpetual Ltd Invests $313,000 in MongoDB, Inc. $MDB

Key Points

• Perpetual Ltd acquired 1,490 shares of MongoDB, Inc. in the second quarter, valued at approximately $313,000, highlighting growing institutional interest in the company.
• Analysts have raised their target prices significantly, with Barclays increasing its estimate from $305 to $345 and Cantor Fitzgerald from $312 to $406, indicating positive expectations for MongoDB's growth.
• Insider trading activity has been notable, with Director Charles M. Hazard, Jr. and Director Hope F. Cochran selling shares, collectively representing a decrease in their ownership positions.

Perpetual Ltd acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,490 shares of the company's stock, valued at approximately $313,000.

A number of other large investors have also added to or reduced their stakes in MDB. Cloud Capital Management LLC purchased a new stake in MongoDB in the first quarter valued at about $25,000. Hollencrest Capital Management purchased a new position in shares of MongoDB in the first quarter worth $26,000. Cullen Frost Bankers Inc. lifted its stake in shares of MongoDB by 315.8% during the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after buying an additional 120 shares during the period. State of Wyoming purchased a new stake in shares of MongoDB during the first quarter valued at $62,000. Finally, Brooklyn Investment Group increased its position 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 acquiring an additional 290 shares during the period. 89.29% of the stock is currently owned by institutional investors.

MongoDB Price Performance

MDB stock traded up $0.16 during 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. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The company's 50-day moving average price is $260.02 and its two-hundred day moving average price is $212.85. The stock has a market capitalization of $26.33 billion, a P/E ratio of -330.19 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Truist Financial upped their target price on MongoDB from $330.00 to $375.00 and gave the company a "buy" rating in a research report on Thursday. Stifel Nicolaus raised their price target on shares of MongoDB from $325.00 to $375.00 and gave the stock a "buy" rating in a research report on Thursday. Oppenheimer raised their price target on shares of MongoDB from $325.00 to $385.00 and gave the stock an "outperform" rating in a research report on Thursday. Canaccord Genuity Group increased their price target on MongoDB from $340.00 to $375.00 and gave the stock a "buy" rating in a research report on Monday. Finally, Piper Sandler increased their price target on MongoDB from $345.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $336.83.

Insiders Place Their Bets

In other news, Director Charles M. Hazard, Jr. sold 166 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $310.00, for a total value of $51,460.00. Following the transaction, the director directly owned 14,493 shares of the company's stock, valued at approximately $4,492,830. This trade represents a 1.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 33,320 shares of the business'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 transaction, the chief executive officer owned 203,237 shares in the company, valued at $61,233,275.73. The trade was a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 59,730 shares of company stock valued at $16,441,331. Corporate insiders own 3.10% of the company's stock.

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.