Washington Capital Management Inc. Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Washington Capital Management Inc. bought a new position 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 institutional investor bought 2,800 shares of the company's stock, valued at approximately $491,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Intellectus Partners LLC grew its holdings in shares of MongoDB by 4.8% during the first quarter. Intellectus Partners LLC now owns 3,982 shares of the company's stock valued at $698,000 after purchasing an additional 182 shares during the last quarter. E. Ohman J or Asset Management AB acquired a new position in shares of MongoDB during the first quarter valued at $438,000. AEGON ASSET MANAGEMENT UK Plc acquired a new position in shares of MongoDB during the first quarter valued at $5,126,000. Bourgeon Capital Management LLC acquired a new position in shares of MongoDB during the first quarter valued at $7,027,000. Finally, Fulton Bank N.A. boosted its holdings in shares of MongoDB by 10.9% during the first quarter. Fulton Bank N.A. now owns 1,356 shares of the company's stock valued at $238,000 after acquiring an additional 133 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Down 1.1%

MDB traded down $2.43 during trading on Wednesday, reaching $210.60. 2,194,528 shares of the company's stock were exchanged, compared to its average volume of 1,957,329. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The business has a 50 day moving average price of $178.26 and a 200 day moving average price of $228.06. The company has a market capitalization of $17.10 billion, a P/E ratio of -76.86 and a beta of 1.39.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 earnings per share. As a group, research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Analysts Set New Price Targets

MDB has been the subject of several analyst reports. Morgan Stanley reduced their price target on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Rosenblatt Securities cut their price target on MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, June 5th. KeyCorp cut MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Bank of America lifted their price target on MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a report on Thursday, June 5th. Finally, The Goldman Sachs Group lowered their price target on MongoDB from $390.00 to $335.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $282.47.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the completion of the sale, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dev Ittycheria sold 18,512 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of the transaction, the chief executive officer now directly owns 268,948 shares in the company, valued at $46,597,930.48. This trade represents a 6.44% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,208 shares of company stock valued at $10,167,739. 3.10% of the stock is currently owned by insiders.

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.