Advisory Services Network LLC Purchases 871 Shares of MongoDB, Inc. (NASDAQ:MDB)

Advisory Services Network LLC lifted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 12.4% during the 1st quarter, HoldingsChannel reports. The firm owned 7,921 shares of the company’s stock after acquiring an additional 871 shares during the period. Advisory Services Network LLC’s holdings in MongoDB were worth $2,841,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Transcendent Capital Group LLC acquired a new stake in MongoDB during the 4th quarter worth approximately $25,000. Blue Trust Inc. lifted its holdings in MongoDB by 937.5% during the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after buying an additional 75 shares during the period. YHB Investment Advisors Inc. acquired a new position in shares of MongoDB in the first quarter worth approximately $41,000. Beacon Capital Management LLC increased its position in MongoDB by 1,111.1% during the 4th quarter. Beacon Capital Management LLC now owns 109 shares of the company’s stock valued at $45,000 after purchasing an additional 100 shares during the period. Finally, Sunbelt Securities Inc. increased its position in shares of MongoDB by 155.1% during the first quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock worth $45,000 after buying an additional 76 shares during the period. Institutional investors own 89.29% of the company’s stock.

Insider Transactions at MongoDB

In related news, CRO Cedric Pech sold 273 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the sale, the executive now owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at $4,568,824.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CRO Cedric Pech sold 273 shares of MongoDB stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the sale, the executive now owns 35,719 shares of the company’s stock, valued at $9,475,893.51. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 35,179 shares of company stock valued at $9,535,839. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MDB. Canaccord Genuity Group cut their price target on shares of MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Morgan Stanley decreased their target price on MongoDB from $455.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. Monness Crespi & Hardt upgraded MongoDB to a “hold” rating in a report on Tuesday, May 28th. Oppenheimer cut their target price on MongoDB from $480.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 31st. Finally, Truist Financial lowered their price objective on shares of MongoDB from $475.00 to $300.00 and set a “buy” rating on the stock in a report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $355.74.

MongoDB Stock Performance

MDB stock traded up $3.30 during midday trading on Friday, reaching $252.08. 429,537 shares of the company’s stock traded hands, compared to its average volume of 1,541,471. MongoDB, Inc. has a 52 week low of $214.74 and a 52 week high of $509.62. The company has a 50-day moving average price of $285.12 and a two-hundred day moving average price of $357.00. The company has a debt-to-equity ratio of 0.90, a quick ratio of 4.93 and a current ratio of 4.93. The firm has a market capitalization of $18.49 billion, a PE ratio of -88.59 and a beta of 1.13.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Thursday, May 30th. The company reported ($0.80) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.80). MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. The company had revenue of $450.56 million for the quarter, compared to analyst estimates of $438.44 million. As a group, equities analysts anticipate that MongoDB, Inc. will post -2.67 EPS for the current year.

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.