Sowell Financial Services LLC Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Sowell Financial Services LLC purchased a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,502 shares of the company's stock, valued at approximately $263,000.

Several other large investors have also recently bought and sold shares of MDB. Vanguard Group Inc. raised its holdings in shares of MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock worth $1,706,205,000 after purchasing an additional 23,942 shares in the last quarter. Franklin Resources Inc. grew its stake in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after acquiring an additional 181,962 shares in the last quarter. Geode Capital Management LLC grew its position in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after purchasing an additional 22,106 shares in the last quarter. First Trust Advisors LP grew its holdings in shares of MongoDB by 12.6% during the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock valued at $199,031,000 after acquiring an additional 95,893 shares in the last quarter. Finally, Norges Bank acquired a new position in MongoDB in the 4th quarter worth about $189,584,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Analysts Set New Price Targets

MDB has been the topic of a number of recent research reports. Macquarie restated a "neutral" rating and set a $230.00 price target (up previously from $215.00) on shares of MongoDB in a report on Friday, June 6th. The Goldman Sachs Group reduced their price target on shares of MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Robert W. Baird decreased their price objective on MongoDB from $390.00 to $300.00 and set an "outperform" rating on the stock in a report on Thursday, March 6th. Wedbush reissued an "outperform" rating and issued a $300.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Finally, Bank of America lifted their price objective on MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $282.47.

Insider Activity

In related news, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the sale, the insider now owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the transaction, the director now directly owns 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 50,382 shares of company stock worth $10,403,807 over the last three months. Corporate insiders own 3.10% of the company's stock.

MongoDB Price Performance

MDB traded down $2.49 during midday trading on Wednesday, reaching $206.76. 1,548,972 shares of the company were exchanged, compared to its average volume of 1,962,229. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The stock's 50-day simple moving average is $188.81 and its 200 day simple moving average is $219.23.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.51 earnings per share. On average, equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.