MongoDB, Inc. (NASDAQ:MDB) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC boosted its stake in MongoDB, Inc. (NASDAQ:MDB) by 57.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,242 shares of the company’s stock after acquiring an additional 452 shares during the period. Farther Finance Advisors LLC’s holdings in MongoDB were worth $219,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in MDB. Vanguard Group Inc. raised its holdings in shares of MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock worth $1,706,205,000 after purchasing an additional 23,942 shares during the period. Franklin Resources Inc. raised its holdings in shares of MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after purchasing an additional 181,962 shares during the period. Geode Capital Management LLC raised its holdings in shares of MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock worth $290,987,000 after purchasing an additional 22,106 shares during the period. First Trust Advisors LP raised its holdings in shares of MongoDB by 12.6% during the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock worth $199,031,000 after purchasing an additional 95,893 shares during the period. Finally, Norges Bank acquired a new stake in shares of MongoDB during the fourth quarter worth $189,584,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Dev Ittycheria sold 25,005 shares of the business’s stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the transaction, the chief executive officer now owns 256,974 shares of the company’s stock, valued at approximately $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $468,000.00. Following the transaction, the director now directly owns 1,107,006 shares in the company, valued at $259,039,404. This trade represents a 0.18% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,208 shares of company stock valued at $10,167,739 over the last 90 days. 3.10% of the stock is currently owned by company insiders.

MongoDB Price Performance

NASDAQ MDB opened at $204.15 on Thursday. The company has a 50 day simple moving average of $184.32 and a 200-day simple moving average of $223.66. The firm has a market capitalization of $16.68 billion, a price-to-earnings ratio of -179.08 and a beta of 1.39. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $370.00.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company’s revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 earnings per share. On average, analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Loop Capital lowered shares of MongoDB from a “buy” rating to a “hold” rating and lowered their price target for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. DA Davidson restated a “buy” rating and set a $275.00 price target on shares of MongoDB in a research report on Thursday, June 5th. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. KeyCorp lowered shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Finally, Bank of America upped their price target on shares of MongoDB from $215.00 to $275.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Eight research analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $282.47.

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.