MongoDB (NASDAQ:MDB) Research Coverage Started at Wells Fargo & Company

Wells Fargo & Company assumed coverage on shares of MongoDB (NASDAQ:MDB) in a research report sent to investors on Tuesday morning, MarketBeat reports. The brokerage issued an overweight rating and a $430.00 price objective on the stock.

A number of other brokerages also recently issued reports on MDB. Wedbush raised their target price on MongoDB from $300.00 to $400.00 and gave the stock an “outperform” rating in a research note on Monday, September 15th. BMO Capital Markets raised their price objective on MongoDB from $315.00 to $365.00 and gave the stock an “outperform” rating in a research report on Thursday, September 18th. JMP Securities raised their price objective on MongoDB from $345.00 to $375.00 and gave the stock a “market outperform” rating in a research report on Friday, September 19th. Robert W. Baird raised their price objective on MongoDB from $260.00 to $335.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 27th. Finally, Barclays raised their price objective on MongoDB from $305.00 to $345.00 and gave the stock an “overweight” rating in a research report on Thursday, September 18th. One investment analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $342.69.

MongoDB Stock Up 1.5%

Shares of MDB opened at $326.29 on Tuesday. MongoDB has a 52-week low of $140.78 and a 52-week high of $370.00. The company has a market capitalization of $26.55 billion, a PE ratio of -332.95 and a beta of 1.50. The stock has a fifty day simple moving average of $275.53 and a two-hundred day simple moving average of $219.62.

Insider Activity at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction dated Monday, September 8th. The stock was sold at an average price of $326.25, for a total value of $326,250.00. Following the completion of the transaction, the chief accounting officer owned 11,598 shares in the company, valued at approximately $3,783,847.50. This trade represents a 7.94% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Peter Thomas Killalea sold 20,000 shares of MongoDB stock in a transaction dated Tuesday, September 23rd. The shares were sold at an average price of $321.87, for a total value of $6,437,400.00. Following the completion of the transaction, the director owned 32,293 shares of the company’s stock, valued at $10,394,147.91. The trade was a 38.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 106,163 shares of company stock worth $31,862,322 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Institutional Investors Weigh In On MongoDB

Several institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in MongoDB by 9.5% during 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 during the last quarter. State Street Corp lifted its stake 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 lifted its stake 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 lifted its stake 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 lifted its stake 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. Hedge funds and other institutional investors 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.