Continuum Advisory LLC Boosts Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Continuum Advisory LLC boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 621.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 137 shares of the company’s stock after acquiring an additional 118 shares during the quarter. Continuum Advisory LLC’s holdings in MongoDB were worth $40,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Jennison Associates LLC increased its position in shares of MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after acquiring an additional 592,038 shares during the period. Westfield Capital Management Co. LP increased its holdings in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after purchasing an additional 7,526 shares during the period. Thrivent Financial for Lutherans increased its holdings in MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after purchasing an additional 388,979 shares during the period. Holocene Advisors LP raised its position in MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after purchasing an additional 66,730 shares in the last quarter. Finally, Blair William & Co. IL boosted its stake in shares of MongoDB by 16.4% in the 2nd quarter. Blair William & Co. IL now owns 315,830 shares of the company’s stock valued at $78,945,000 after buying an additional 44,608 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

NASDAQ MDB opened at $288.61 on Friday. The firm has a market cap of $21.32 billion, a P/E ratio of -95.57 and a beta of 1.17. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62. The business’s 50-day moving average price is $293.13 and its 200 day moving average price is $269.12. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same period last year, the business posted $0.96 EPS. The company’s revenue was up 22.3% on a year-over-year basis. On average, equities research analysts expect that MongoDB, Inc. will post -2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on MDB shares. Canaccord Genuity Group raised their target price on shares of MongoDB from $325.00 to $385.00 and gave the company a “buy” rating in a report on Wednesday. Piper Sandler reaffirmed an “overweight” rating and set a $425.00 price objective on shares of MongoDB in a research report on Tuesday. Robert W. Baird increased their target price on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a report on Tuesday. JMP Securities restated a “market outperform” rating and issued a $380.00 price target on shares of MongoDB in a research note on Wednesday. Finally, Sanford C. Bernstein upped their price objective on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $370.08.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the sale, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas Bull sold 154 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,600 shares of company stock valued at $7,611,849. 3.60% of the stock is owned by company insiders.

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.