Plum Street Advisors LLC Invests $1.41 Million in MongoDB, Inc. $MDB

Key Points

• Plum Street Advisors acquired 4,557 shares of MongoDB in Q3, a new stake valued at approximately $1.41 million.
• Several analysts recently cut price targets (e.g., Wells Fargo, Needham, Truist), but MarketBeat's consensus remains a Moderate Buy with a $354.18 average price target.
• Insiders have sold 21,949 shares worth $8.98 million in the past 90 days, while hedge funds and other institutions own 89.29% of the outstanding stock (insiders own 3.10%).

Plum Street Advisors LLC acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 4,557 shares of the company's stock, valued at approximately $1,414,000.

A number of other large investors also recently modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in MongoDB by 3.8% in the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company's stock worth $342,000 after purchasing an additional 40 shares in the last quarter. Huntington National Bank grew its holdings in MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company's stock valued at $30,000 after buying an additional 51 shares in the last quarter. GAMMA Investing LLC raised its position in shares of MongoDB by 46.2% during the third quarter. GAMMA Investing LLC now owns 171 shares of the company's stock valued at $53,000 after buying an additional 54 shares during the last quarter. Westside Investment Management Inc. raised its position in shares of MongoDB by 82.1% during the third quarter. Westside Investment Management Inc. now owns 122 shares of the company's stock valued at $39,000 after buying an additional 55 shares during the last quarter. Finally, WPG Advisers LLC lifted its holdings in shares of MongoDB by 53.7% in the third quarter. WPG Advisers LLC now owns 166 shares of the company's stock worth $52,000 after buying an additional 58 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Raymond James Financial started coverage on shares of MongoDB in a research report on Monday, December 15th. They set a "market perform" rating for the company. Wells Fargo & Company reduced their price target on shares of MongoDB from $450.00 to $375.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Bank of America reiterated a "buy" rating on shares of MongoDB in a research note on Tuesday, March 3rd. Needham & Company LLC dropped their price objective on shares of MongoDB from $500.00 to $300.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Finally, Truist Financial cut their price objective on MongoDB from $500.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and a consensus price target of $354.18.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,190 shares of MongoDB stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the transaction, the director directly owned 80,462 shares of the company's stock, valued at $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the business's stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the transaction, the director owned 25,659 shares in the company, valued at $10,824,249.15. This trade represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,949 shares of company stock worth $8,981,630 in the last 90 days. 3.10% of the stock is currently owned by insiders.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $260.50 on Friday. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $444.72. The business's 50 day moving average is $354.08 and its two-hundred day moving average is $352.74. The stock has a market capitalization of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the company earned $1.28 EPS. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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