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

MongoDB (NASDAQ:MDB) had its target price raised by Stifel Nicolaus from $325.00 to $375.00 in a research note released on Thursday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other equities analysts also recently issued reports about the stock. Bank of America lifted their price target on shares of MongoDB from $345.00 to $380.00 and gave the company a “buy” rating in a report on Thursday. Canaccord Genuity Group boosted their target price on shares of MongoDB from $320.00 to $340.00 and gave the stock a “buy” rating in a research note on Thursday, August 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $345.00 target price on shares of MongoDB in a research note on Wednesday, August 27th. Piper Sandler boosted their target price on shares of MongoDB from $345.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, DA Davidson boosted their target price on shares of MongoDB from $325.00 to $365.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have issued a Hold rating to the company. According to MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $332.69.

MongoDB Stock Up 0.3%

Shares of MDB stock opened at $316.30 on Thursday. MongoDB has a 12-month low of $140.78 and a 12-month high of $370.00. The company has a market capitalization of $25.73 billion, a P/E 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.

Insider Activity at MongoDB

In other news, Director Charles M. Hazard, Jr. sold 833 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $310.00, for a total value of $258,230.00. Following the completion of the transaction, the director owned 47,366 shares in the company, valued at $14,683,460. This represents a 1.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 33,320 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were 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 owned 203,237 shares of the company’s stock, valued at $61,233,275.73. This trade represents a 14.09% 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 over the last ninety days. 3.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in MDB. Vanguard Group Inc. lifted its position in shares of MongoDB by 9.5% in the second quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company’s stock worth $1,796,321,000 after purchasing an additional 744,547 shares in the last quarter. State Street Corp boosted its holdings in MongoDB by 5.0% during the second quarter. State Street Corp now owns 1,693,194 shares of the company’s stock worth $355,554,000 after purchasing an additional 80,334 shares during the last quarter. Geode Capital Management LLC boosted its holdings in MongoDB by 5.2% during the second quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company’s stock worth $292,597,000 after purchasing an additional 68,611 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in MongoDB by 11.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,271,444 shares of the company’s stock worth $223,011,000 after purchasing an additional 129,451 shares during the last quarter. Finally, AQR Capital Management LLC boosted its holdings in MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

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.