MongoDB, Inc. $MDB Shares Purchased by Sender Co & Partners Inc.

Key Points

• Sender Co & Partners Inc. increased its holdings in MongoDB, Inc. by 55.9% during the first quarter, owning 15,638 shares valued at approximately $2.74 million.
• Analysts have raised their price targets for MongoDB, with Guggenheim setting a new target of $310 and Bank of America raising theirs to $345, indicating a generally optimistic outlook for the stock.
• Insider trading activity shows that two directors sold shares recently, with a total of 58,730 shares sold by insiders in the last ninety days, representing a decrease in their ownership.

Sender Co & Partners Inc. increased its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 55.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,638 shares of the company's stock after purchasing an additional 5,604 shares during the period. MongoDB makes up approximately 1.4% of Sender Co & Partners Inc.'s holdings, making the stock its 21st biggest position. Sender Co & Partners Inc.'s holdings in MongoDB were worth $2,743,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in MongoDB by 875.2% in the 1st quarter. Jones Financial Companies Lllp now owns 9,947 shares of the company's stock worth $1,745,000 after buying an additional 8,927 shares during the last quarter. Infinitum Asset Management LLC increased its holdings in MongoDB by 71.4% in the 1st quarter. Infinitum Asset Management LLC now owns 60,000 shares of the company's stock worth $10,524,000 after acquiring an additional 25,000 shares in the last quarter. Nissay Asset Management Corp Japan ADV increased its holdings in MongoDB by 10.8% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 18,330 shares of the company's stock worth $3,215,000 after acquiring an additional 1,787 shares in the last quarter. NewEdge Advisors LLC increased its holdings in MongoDB by 55.0% in the 1st quarter. NewEdge Advisors LLC now owns 4,238 shares of the company's stock worth $743,000 after acquiring an additional 1,504 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in MongoDB by 10.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,219 shares of the company's stock worth $8,634,000 after acquiring an additional 4,692 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

MongoDB Stock Up 1.0%

MDB stock traded up $3.12 during trading on Tuesday, hitting $326.41. 238,510 shares of the company's stock traded hands, compared to its average volume of 2,514,138. The business has a fifty day simple moving average of $236.30 and a two-hundred day simple moving average of $207.36. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The firm has a market capitalization of $26.56 billion, a P/E ratio of -333.39 and a beta of 1.49.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $225.00, for a total value of $225,000.00. Following the completion of the sale, the director owned 1,105,316 shares of the company's stock, valued at approximately $248,696,100. This trade represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles M. Hazard, Jr. sold 833 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $258,230.00. Following the completion of the sale, the director directly owned 47,366 shares of the company's stock, valued at approximately $14,683,460. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,730 shares of company stock worth $15,966,159 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have weighed in on MDB. Monness Crespi & Hardt upped their price target on MongoDB from $295.00 to $360.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Piper Sandler upped their price target on MongoDB from $275.00 to $345.00 and gave the stock an "overweight" rating in a research note on Wednesday, August 27th. Needham & Company LLC upped their price target on MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Robert W. Baird upped their price target on MongoDB from $260.00 to $335.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Finally, Wedbush reiterated an "outperform" rating and set a $300.00 target price on shares of MongoDB in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have assigned a Hold rating to the company's stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.86.

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.