Planning Capital Management Corp Acquires 182 Shares of MongoDB, Inc. (NASDAQ:MDB)

Planning Capital Management Corp raised its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 1,820.0% in the 3rd quarter, Holdings Channel reports. The firm owned 192 shares of the company’s stock after purchasing an additional 182 shares during the quarter. Planning Capital Management Corp’s holdings in MongoDB were worth $52,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in MDB. Swedbank AB raised its holdings in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after acquiring an additional 400,705 shares in the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of MongoDB by 109.0% in the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after acquiring an additional 232,101 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of MongoDB in the second quarter valued at about $52,131,000. Finally, Renaissance Technologies LLC raised its holdings in shares of MongoDB by 828.9% in the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after acquiring an additional 163,300 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Performance

MongoDB stock opened at $291.59 on Friday. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The company’s 50-day moving average price is $278.11 and its two-hundred day moving average price is $275.45.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, August 29th. The company reported $0.70 EPS 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 15.06%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same period in the previous year, the firm posted ($0.63) earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts expect that MongoDB, Inc. will post -2.39 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $282.89, for a total value of $282,890.00. Following the completion of the transaction, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. This represents a 5.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total value of $872,370.00. Following the sale, the director now owns 1,135,006 shares in the company, valued at $330,048,394.74. The trade was a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 24,281 shares of company stock worth $6,657,121 in the last three months. Insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on MDB shares. Scotiabank lifted their target price on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. UBS Group lifted their target price on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. DA Davidson lifted their target price on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Morgan Stanley increased their price target on MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $334.25.

About MongoDB

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.