Bank of Hawaii Takes $1.22 Million Position in MongoDB, Inc. $MDB

Bank of Hawaii acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 3,940 shares of the company’s stock, valued at approximately $1,223,000.

Other large investors also recently bought and sold shares of the company. Integrated Wealth Concepts LLC increased its position in MongoDB by 31.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after purchasing an additional 327 shares during the period. NewEdge Advisors LLC increased its position in shares of MongoDB by 55.0% in the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock worth $743,000 after acquiring an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in shares of MongoDB in the second quarter valued at $329,000. Savant Capital LLC acquired a new position in MongoDB during the 2nd quarter worth $359,000. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of MongoDB by 3.7% in the 1st quarter. Summit Investment Advisors Inc. now owns 2,438 shares of the company’s stock valued at $428,000 after buying an additional 88 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of MDB stock opened at $260.50 on Friday. The stock has a market cap of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40. MongoDB, Inc. has a one year low of $140.78 and a one year high of $444.72. The company has a fifty day moving average price of $354.08 and a two-hundred day moving average price of $352.74.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business’s revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the transaction, the director directly owned 80,462 shares in the company, valued at approximately $29,750,824.50. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the transaction, the director directly owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,949 shares of company stock valued at $8,981,630 over the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently commented on MDB. Weiss Ratings reissued a “sell (d-)” rating on shares of MongoDB in a research note on Monday, December 29th. Bank of America reissued a “buy” rating on shares of MongoDB in a report on Tuesday, March 3rd. Argus raised their target price on MongoDB from $340.00 to $488.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. UBS Group cut their price objective on MongoDB from $440.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Finally, Canaccord Genuity Group reduced their price objective on MongoDB from $455.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.18.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.