Parallel Advisors LLC Boosts Position in MongoDB, Inc. $MDB

Parallel Advisors LLC grew its stake in MongoDB, Inc. (NASDAQ:MDB) by 20.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,494 shares of the company’s stock after acquiring an additional 249 shares during the quarter. Parallel Advisors LLC’s holdings in MongoDB were worth $314,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Garde Capital Inc. lifted its position in shares of MongoDB by 20,000.0% in the second quarter. Garde Capital Inc. now owns 1,005 shares of the company’s stock valued at $211,000 after acquiring an additional 1,000 shares in the last quarter. Kera Capital Partners Inc. purchased a new stake in shares of MongoDB in the second quarter valued at $375,000. Swedbank AB lifted its position in shares of MongoDB by 2.2% in the first quarter. Swedbank AB now owns 615,593 shares of the company’s stock valued at $107,975,000 after acquiring an additional 13,100 shares in the last quarter. Acadian Asset Management LLC lifted its position in shares of MongoDB by 181.8% in the first quarter. Acadian Asset Management LLC now owns 562,190 shares of the company’s stock valued at $98,586,000 after acquiring an additional 362,705 shares in the last quarter. Finally, IFM Investors Pty Ltd lifted its position in shares of MongoDB by 4.3% in the first quarter. IFM Investors Pty Ltd now owns 13,796 shares of the company’s stock valued at $2,420,000 after acquiring an additional 569 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $326.25, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer directly owned 11,598 shares in the company, valued at $3,783,847.50. This represents a 7.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles M. Hazard, Jr. sold 166 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $51,460.00. Following the sale, the director owned 14,493 shares of the company’s stock, valued at $4,492,830. This represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 59,730 shares of company stock valued at $16,441,331 over the last three months. Insiders own 3.10% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $323.43 on Friday. The firm has a market capitalization of $26.31 billion, a PE ratio of -330.03 and a beta of 1.49. The business has a 50-day moving average of $257.58 and a two-hundred day moving average of $211.77. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Wolfe Research upped their price objective on MongoDB from $280.00 to $350.00 and gave the company an “outperform” rating in a research report on Wednesday, August 27th. Stephens started coverage on MongoDB in a research note on Friday, July 18th. They issued an “equal weight” rating and a $247.00 target price for the company. Robert W. Baird upped their target price on MongoDB from $260.00 to $335.00 and gave the company an “outperform” rating in a research note on Wednesday, August 27th. Needham & Company LLC upped their target price on MongoDB from $325.00 to $365.00 and gave the company a “buy” rating in a research note on Friday. Finally, Guggenheim upped their target price on MongoDB from $310.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, September 15th. One research 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 a consensus target price of $335.83.

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.