Emerald Mutual Fund Advisers Trust grew its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 169.3% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 878 shares of the company’s stock after acquiring an additional 552 shares during the quarter. Emerald Mutual Fund Advisers Trust’s holdings in MongoDB were worth $219,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Transcendent Capital Group LLC purchased a new position in MongoDB in the fourth quarter valued at approximately $25,000. MFA Wealth Advisors LLC purchased a new position in shares of MongoDB in the 2nd quarter valued at $25,000. J.Safra Asset Management Corp raised its stake in MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after acquiring an additional 116 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in MongoDB in the second quarter valued at $35,000. Finally, YHB Investment Advisors Inc. acquired a new position in MongoDB in the first quarter valued at $41,000. Institutional investors and hedge funds own 89.29% of the company’s stock.
Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on MDB shares. Canaccord Genuity Group reduced their target price on MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a report on Friday, May 31st. Scotiabank boosted their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Citigroup raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Finally, JMP Securities reissued a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $337.56.
MongoDB Stock Performance
NASDAQ:MDB opened at $281.88 on Friday. The firm’s fifty day simple moving average is $253.05 and its 200-day simple moving average is $309.52. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The stock has a market cap of $20.68 billion, a PE ratio of -100.31 and a beta of 1.15. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.95%. The company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same period in the prior year, the business posted ($0.63) earnings per share. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. Analysts expect that MongoDB, Inc. will post -2.67 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the transaction, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at $4,568,824.38. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other MongoDB news, CAO Thomas Bull sold 138 shares of the firm’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $228.00, for a total transaction of $2,280,000.00. Following the completion of the sale, the director now directly owns 20,020 shares in the company, valued at approximately $4,564,560. The disclosure for this sale can be found here. Insiders have sold a total of 32,179 shares of company stock worth $8,063,279 in the last quarter. Company insiders own 3.60% of the company’s stock.
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.
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