Macquarie Issues Positive Forecast for MongoDB (NASDAQ:MDB) Stock Price

MongoDB (NASDAQ:MDB) had its target price upped by Macquarie from $265.00 to $305.00 in a research note issued to investors on Thursday morning,Benzinga reports. Macquarie currently has a neutral rating on the stock.

Other equities analysts have also issued reports about the stock. JMP Securities restated a “market outperform” rating and issued a $345.00 price objective on shares of MongoDB in a research report on Wednesday, August 27th. Wedbush raised their price objective on shares of MongoDB from $300.00 to $400.00 and gave the company an “outperform” rating in a research report on Monday. Stephens initiated coverage on shares of MongoDB in a research report on Friday, July 18th. They issued an “equal weight” rating and a $247.00 price objective for the company. Wolfe Research raised their price objective on shares of MongoDB from $280.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Finally, Truist Financial raised their price objective on shares of MongoDB from $275.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $332.69.

MongoDB Stock Up 0.3%

MDB opened at $316.30 on Thursday. The company has a market capitalization of $25.73 billion, a price-to-earnings ratio of -322.76 and a beta of 1.49. The firm has a 50-day moving average price of $255.16 and a 200-day moving average price of $211.65. MongoDB has a twelve month low of $140.78 and a twelve month high of $370.00.

Insider Buying and Selling at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction on Monday, September 8th. The shares were sold at an average price of $326.25, for a total value of $326,250.00. Following the transaction, the chief accounting officer directly owned 11,598 shares of the company’s stock, valued at $3,783,847.50. The trade was a 7.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 33,320 shares of MongoDB stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the completion of the transaction, the chief executive officer directly owned 203,237 shares in the company, valued at approximately $61,233,275.73. The trade was a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,556 shares of company stock valued at $16,056,341. 3.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Main Management ETF Advisors LLC increased its stake in shares of MongoDB by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 3,665 shares of the company’s stock worth $770,000 after buying an additional 60 shares during the period. Carnegie Investment Counsel increased its stake in shares of MongoDB by 3.6% in the second quarter. Carnegie Investment Counsel now owns 1,803 shares of the company’s stock worth $379,000 after buying an additional 62 shares during the period. Handelsbanken Fonder AB increased its stake in shares of MongoDB by 0.4% in the first quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company’s stock worth $2,599,000 after buying an additional 65 shares during the period. New York Life Investment Management LLC increased its stake in shares of MongoDB by 6.2% in the second quarter. New York Life Investment Management LLC now owns 1,236 shares of the company’s stock worth $260,000 after buying an additional 72 shares during the period. Finally, Wedbush Securities Inc. increased its stake in shares of MongoDB by 2.6% in the first quarter. Wedbush Securities Inc. now owns 3,022 shares of the company’s stock worth $530,000 after buying an additional 77 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Company 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.