Cetera Investment Advisers Buys 5,108 Shares of MongoDB, Inc. (NASDAQ:MDB)

Cetera Investment Advisers grew its stake in MongoDB, Inc. (NASDAQ:MDB) by 35.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,424 shares of the company’s stock after acquiring an additional 5,108 shares during the quarter. Cetera Investment Advisers’ holdings in MongoDB were worth $3,407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of MDB. Marshall Wace LLP bought a new stake in MongoDB during the 4th quarter worth approximately $110,356,000. D1 Capital Partners L.P. bought a new stake in MongoDB during the 4th quarter worth approximately $76,129,000. Alyeska Investment Group L.P. bought a new stake in MongoDB during the 4th quarter worth approximately $24,633,000. Frontier Capital Management Co. LLC increased its stake in MongoDB by 43.3% during the 4th quarter. Frontier Capital Management Co. LLC now owns 339,257 shares of the company’s stock worth $78,982,000 after purchasing an additional 102,556 shares in the last quarter. Finally, Deutsche Bank AG increased its stake in MongoDB by 52.9% during the 4th quarter. Deutsche Bank AG now owns 294,463 shares of the company’s stock worth $68,554,000 after purchasing an additional 101,819 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

MDB has been the subject of a number of research reports. Mizuho lowered their target price on MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. Morgan Stanley lowered their target price on MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Scotiabank increased their target price on MongoDB from $160.00 to $230.00 and gave the stock a “sector perform” rating in a research note on Thursday, June 5th. Guggenheim increased their target price on MongoDB from $235.00 to $260.00 and gave the stock a “buy” rating in a research note on Thursday, June 5th. Finally, Piper Sandler increased their target price on MongoDB from $200.00 to $275.00 and gave the stock an “overweight” rating in a research note on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $281.31.

MongoDB Price Performance

Shares of MongoDB stock opened at $226.56 on Tuesday. The business has a fifty day simple moving average of $211.50 and a two-hundred day simple moving average of $211.98. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The company has a market capitalization of $18.51 billion, a price-to-earnings ratio of -198.74 and a beta of 1.44.

MongoDB (NASDAQ:MDB) last announced 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 business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter last year, the firm posted $0.51 EPS. The company’s quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $243.89, for a total transaction of $2,032,823.15. Following the transaction, the chief executive officer owned 236,557 shares in the company, valued at $57,693,886.73. This trade represents a 3.40% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the firm’s stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the completion of the transaction, the director owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold 51,416 shares of company stock valued at $11,936,656 in the last quarter. 3.10% of the stock is currently owned by 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.