MongoDB (NASDAQ:MDB - Get Free Report) had its target price upped by stock analysts at Needham & Company LLC from $325.00 to $365.00 in a report issued on Friday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Needham & Company LLC's price target would indicate a potential upside of 11.99% from the company's current price.
Several other analysts also recently issued reports on MDB. Zacks Research raised MongoDB to a "hold" rating in a research note on Friday, August 8th. Guggenheim lifted their price objective on shares of MongoDB from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, September 15th. William Blair reiterated an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Oppenheimer boosted their price target on MongoDB from $325.00 to $385.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Stephens started coverage on MongoDB in a research report on Friday, July 18th. They set an "equal weight" rating and a $247.00 price target for the company. One equities research 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. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $336.83.
Check Out Our Latest Analysis on MDB
MongoDB Stock Up 0.8%
Shares of MDB traded up $2.50 during mid-day trading on Friday, hitting $325.93. 829,911 shares of the company's stock traded hands, compared to its average volume of 2,515,441. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00. The firm has a market capitalization of $26.52 billion, a P/E ratio of -332.81 and a beta of 1.49. The business's 50-day moving average price is $257.58 and its 200-day moving average price is $211.90.
Insider Activity at MongoDB
In related news, CEO Dev Ittycheria sold 33,320 shares of MongoDB 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 directly owned 203,237 shares of the company's stock, valued at $61,233,275.73. The trade was a 14.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Hazard, Jr. sold 166 shares of MongoDB stock in a transaction dated Tuesday, September 2nd. The stock was 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 in the company, valued at approximately $4,492,830. The trade was a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,730 shares of company stock valued at $16,441,331. Company insiders own 3.10% of the company's stock.
Hedge Funds Weigh In On MongoDB
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Daventry Group LP increased its holdings in shares of MongoDB by 6.3% during the 2nd quarter. Daventry Group LP now owns 151,161 shares of the company's stock worth $31,742,000 after purchasing an additional 9,000 shares during the period. Centaurus Financial Inc. lifted its holdings in MongoDB by 11.0% in the second quarter. Centaurus Financial Inc. now owns 3,019 shares of the company's stock valued at $634,000 after buying an additional 300 shares during the period. Orion Porfolio Solutions LLC increased its stake in MongoDB by 14.4% in the second quarter. Orion Porfolio Solutions LLC now owns 8,339 shares of the company's stock valued at $1,751,000 after purchasing an additional 1,047 shares in the last quarter. MASTERINVEST Kapitalanlage GmbH bought a new stake in MongoDB in the second quarter valued at approximately $1,727,000. Finally, Promus Capital LLC bought a new stake in shares of MongoDB during the second quarter worth $36,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.
About MongoDB
(
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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.
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