Steward Partners Investment Advisory LLC Increases Stake in MongoDB, Inc. (NASDAQ:MDB)

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Steward Partners Investment Advisory LLC raised its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 185.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 200 shares of the company’s stock after buying an additional 130 shares during the period. Steward Partners Investment Advisory LLC’s holdings in MongoDB were worth $46,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. TCW Group Inc. increased its holdings in MongoDB by 251.6% during the third quarter. TCW Group Inc. now owns 63,672 shares of the company’s stock valued at $14,741,000 after buying an additional 45,561 shares during the last quarter. Amalgamated Bank increased its holdings in MongoDB by 17.3% during the third quarter. Amalgamated Bank now owns 10,172 shares of the company’s stock valued at $2,355,000 after buying an additional 1,503 shares during the last quarter. Dupont Capital Management Corp increased its stake in shares of MongoDB by 99.6% in the third quarter. Dupont Capital Management Corp now owns 447 shares of the company’s stock worth $103,000 after purchasing an additional 223 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in shares of MongoDB by 7.5% in the third quarter. DekaBank Deutsche Girozentrale now owns 3,702 shares of the company’s stock worth $840,000 after purchasing an additional 258 shares in the last quarter. Finally, KBC Group NV increased its stake in shares of MongoDB by 22.3% in the third quarter. KBC Group NV now owns 15,371 shares of the company’s stock worth $3,558,000 after purchasing an additional 2,798 shares in the last quarter. 87.09% of the stock is owned by institutional investors and hedge funds.

A number of analysts have recently issued reports on the stock. Needham & Company LLC increased their price objective on shares of MongoDB from $259.00 to $290.00 and gave the stock a “buy” rating in a research note on Thursday, September 3rd. ValuEngine raised shares of MongoDB from a “hold” rating to a “buy” rating in a research note on Thursday, October 1st. Zacks Investment Research upgraded shares of MongoDB from a “sell” rating to a “hold” rating in a research report on Thursday, November 5th. Oppenheimer upped their target price on shares of MongoDB from $240.00 to $275.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 2nd. Finally, The Goldman Sachs Group upped their target price on shares of MongoDB from $215.00 to $245.00 and gave the stock a “neutral” rating in a research report on Thursday, September 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $259.54.

MDB stock opened at $246.86 on Friday. MongoDB, Inc. has a 52 week low of $93.81 and a 52 week high of $273.01. The company has a quick ratio of 4.37, a current ratio of 4.37 and a debt-to-equity ratio of 19.42. The company has a fifty day simple moving average of $245.32 and a two-hundred day simple moving average of $218.01. The firm has a market capitalization of $14.53 billion, a P/E ratio of -63.46 and a beta of 0.69.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, September 2nd. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.40) by $0.18. MongoDB had a negative net margin of 44.55% and a negative return on equity of 156.29%. The business had revenue of $138.30 million during the quarter, compared to analyst estimates of $126.83 million. During the same quarter last year, the business earned ($0.26) earnings per share. MongoDB’s quarterly revenue was up 39.1% compared to the same quarter last year. As a group, analysts anticipate that MongoDB, Inc. will post -3.58 EPS for the current year.

In other news, CEO Dev Ittycheria sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 5th. The shares were sold at an average price of $249.39, for a total value of $8,728,650.00. Following the completion of the sale, the chief executive officer now owns 258,205 shares in the company, valued at approximately $64,393,744.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CRO Cedric Pech sold 2,201 shares of the firm’s stock in a transaction dated Tuesday, September 8th. The stock was sold at an average price of $206.50, for a total transaction of $454,506.50. Following the completion of the sale, the executive now owns 43,310 shares of the company’s stock, valued at approximately $8,943,515. The disclosure for this sale can be found here. Insiders sold a total of 350,882 shares of company stock valued at $84,518,323 in the last 90 days. Company insiders own 16.28% of the company’s stock.

MongoDB Profile

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

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