2,058 Shares in MongoDB, Inc. $MDB Acquired by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 2,058 shares of the company’s stock, valued at approximately $432,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new position in shares of MongoDB in the first quarter valued at approximately $25,000. Hollencrest Capital Management acquired a new position in shares of MongoDB in the first quarter valued at approximately $26,000. Cullen Frost Bankers Inc. increased its holdings in shares of MongoDB by 315.8% in the first quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company’s stock valued at $28,000 after purchasing an additional 120 shares during the period. State of Wyoming acquired a new position in shares of MongoDB in the first quarter valued at approximately $62,000. Finally, Brooklyn Investment Group increased its holdings in shares of MongoDB by 247.9% in the first quarter. Brooklyn Investment Group now owns 407 shares of the company’s stock valued at $71,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Trading Up 2.3%

Shares of NASDAQ MDB opened at $323.43 on Friday. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The company has a market cap of $26.31 billion, a price-to-earnings ratio of -330.03 and a beta of 1.49. The stock’s 50 day simple moving average is $257.58 and its 200 day simple moving average is $211.77.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MDB. Macquarie boosted their target price on MongoDB from $265.00 to $305.00 and gave the company a “neutral” rating in a report on Thursday. The Goldman Sachs Group boosted their target price on MongoDB from $325.00 to $370.00 and gave the company a “buy” rating in a report on Thursday. Piper Sandler upped their price objective on MongoDB from $345.00 to $400.00 and gave the stock an “overweight” rating in a report on Thursday. Barclays boosted their target price on MongoDB from $305.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $335.83.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction on Friday, July 25th. The stock was sold at an average price of $245.00, for a total transaction of $245,000.00. Following the transaction, the director directly owned 1,104,316 shares in the company, valued at approximately $270,557,420. This trade represents a 0.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $327.93, for a total value of $384,989.82. Following the transaction, the director owned 24,308 shares in the company, valued at approximately $7,971,322.44. This trade represents a 4.61% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,730 shares of company stock worth $16,441,331 over the last quarter. 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.