Pier Capital LLC Decreases Stake in MongoDB, Inc. (NASDAQ:MDB)

Pier Capital LLC decreased its holdings in MongoDB, Inc. (NASDAQ:MDB) by 11.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,726 shares of the company’s stock after selling 338 shares during the period. Pier Capital LLC’s holdings in MongoDB were worth $737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC raised its stake in shares of MongoDB by 4.4% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 5,102 shares of the company’s stock valued at $1,379,000 after acquiring an additional 215 shares during the period. XTX Topco Ltd increased its holdings in MongoDB by 28.3% in the 3rd quarter. XTX Topco Ltd now owns 2,350 shares of the company’s stock valued at $635,000 after purchasing an additional 518 shares in the last quarter. National Bank of Canada FI raised its position in MongoDB by 113.2% in the third quarter. National Bank of Canada FI now owns 15,441 shares of the company’s stock valued at $4,174,000 after purchasing an additional 8,198 shares during the period. iA Global Asset Management Inc. lifted its stake in shares of MongoDB by 359.4% during the third quarter. iA Global Asset Management Inc. now owns 33,100 shares of the company’s stock worth $8,949,000 after purchasing an additional 25,895 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of MongoDB in the third quarter worth about $217,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MongoDB

In related news, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the sale, the executive now owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the transaction, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at $23,313,925.17. The trade was a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 25,600 shares of company stock worth $7,255,929. 3.60% of the stock is currently owned by company insiders.

MongoDB Trading Up 2.7 %

MDB opened at $343.40 on Monday. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The company’s 50-day moving average price is $289.30 and its 200 day moving average price is $269.24. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent research reports. Sanford C. Bernstein boosted their price target on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Citigroup boosted 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. Oppenheimer raised their price target on shares of MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. Bank of America boosted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Finally, Mizuho raised 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. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $344.25.

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.