MongoDB (NASDAQ:MDB) Price Target Raised to $345.00 at Barclays

MongoDB (NASDAQ:MDB) had its price objective boosted by Barclays from $305.00 to $345.00 in a research note published on Thursday, MarketBeat.com reports. They currently have an overweight rating on the stock.

A number of other analysts have also recently issued reports on MDB. Piper Sandler boosted their price objective on MongoDB from $345.00 to $400.00 and gave the company an “overweight” rating in a research report on Thursday. BMO Capital Markets boosted their price objective on MongoDB from $315.00 to $365.00 and gave the stock an “outperform” rating in a research note on Thursday. Cantor Fitzgerald upped their price target on MongoDB from $271.00 to $312.00 and gave the company an “overweight” rating in a research note on Wednesday, August 27th. Guggenheim upped their price objective on MongoDB from $310.00 to $400.00 and gave the company a “buy” rating in a report on Monday. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $290.00 price objective on shares of MongoDB in a report on Friday, August 22nd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $332.69.

MongoDB Trading Up 0.3%

MDB opened at $316.30 on Thursday. The stock has a market cap of $25.73 billion, a PE ratio of -322.76 and a beta of 1.49. MongoDB has a 1 year low of $140.78 and a 1 year high of $370.00. The stock’s 50 day simple moving average is $255.16 and its 200-day simple moving average is $211.65.

Insider Buying and Selling

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $326.25, for a total transaction of $326,250.00. Following the transaction, the chief accounting officer owned 11,598 shares in the company, valued at $3,783,847.50. This trade represents a 7.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Hazard, Jr. sold 833 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $258,230.00. Following the transaction, the director owned 47,366 shares in the company, valued at approximately $14,683,460. This trade represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,556 shares of company stock worth $16,056,341 in the last quarter. Insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Hedge funds have recently modified their holdings of the company. Cloud Capital Management LLC acquired a new stake in shares of MongoDB during the 1st quarter valued at $25,000. Hollencrest Capital Management acquired a new stake in shares of MongoDB during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. boosted its holdings in shares of MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after acquiring an additional 120 shares in the last quarter. Montag A & Associates Inc. lifted its holdings in MongoDB by 144.3% during the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company’s stock worth $36,000 after buying an additional 101 shares during the period. Finally, Promus Capital LLC acquired a new position in MongoDB during the 2nd quarter worth about $36,000. Institutional investors and hedge funds own 89.29% 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.