Envestnet Asset Management Inc. Acquires 39,311 Shares of MongoDB, Inc. (NASDAQ:MDB)

Envestnet Asset Management Inc. lifted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 44.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 127,425 shares of the company’s stock after purchasing an additional 39,311 shares during the period. Envestnet Asset Management Inc. owned about 0.16% of MongoDB worth $22,350,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Norges Bank bought a new position in shares of MongoDB during the 4th quarter valued at about $189,584,000. Marshall Wace LLP bought a new position in shares of MongoDB during the fourth quarter valued at approximately $110,356,000. D1 Capital Partners L.P. acquired a new stake in MongoDB in the fourth quarter valued at approximately $76,129,000. Franklin Resources Inc. raised its holdings in shares of MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after buying an additional 181,962 shares during the last quarter. Finally, Pictet Asset Management Holding SA raised its holdings in shares of MongoDB by 69.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 356,964 shares of the company’s stock worth $83,105,000 after purchasing an additional 145,854 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Trading Up 3.5%

Shares of MongoDB stock opened at $208.66 on Wednesday. The company has a market capitalization of $17.05 billion, a PE ratio of -183.04 and a beta of 1.41. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The stock’s fifty day simple moving average is $200.37 and its 200 day simple moving average is $213.39.

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on MDB. Guggenheim boosted their price target on shares of MongoDB from $235.00 to $260.00 and gave the stock a “buy” rating in a research report on Thursday, June 5th. Piper Sandler boosted their target price on shares of MongoDB from $200.00 to $275.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. Cantor Fitzgerald boosted their target price on shares of MongoDB from $252.00 to $271.00 and gave the company an “overweight” rating in a report on Thursday, June 5th. Morgan Stanley decreased their target price on shares of MongoDB from $315.00 to $235.00 and set an “overweight” rating on the stock in a report on Wednesday, April 16th. Finally, Bank of America boosted their target price on shares of MongoDB from $215.00 to $275.00 and gave the company a “buy” rating in a report on Thursday, June 5th. Eight analysts have rated the stock with a hold rating, twenty-six have issued 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 a consensus price target of $282.39.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the director owned 1,107,006 shares in the company, valued at $259,039,404. The trade was a 0.18% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 25,005 shares of the business’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the sale, the chief executive officer owned 256,974 shares of the company’s stock, valued at approximately $60,131,916. This represents a 8.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,746 shares of company stock worth $7,500,196. Company insiders own 3.10% of the company’s stock.

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.