MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by Prosperity Wealth Management Inc.

Prosperity Wealth Management Inc. grew its holdings in MongoDB, Inc. (NASDAQ:MDB) by 43.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 2,139 shares of the company’s stock after buying an additional 644 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in MongoDB were worth $498,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. AGF Management Ltd. purchased a new position in MongoDB in the 4th quarter valued at approximately $1,493,000. Daiwa Securities Group Inc. increased its stake in MongoDB by 6.4% in the 4th quarter. Daiwa Securities Group Inc. now owns 10,987 shares of the company’s stock valued at $2,558,000 after purchasing an additional 664 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in MongoDB by 12.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,090 shares of the company’s stock valued at $3,979,000 after purchasing an additional 1,947 shares in the last quarter. Taika Capital LP purchased a new position in MongoDB in the 4th quarter valued at approximately $1,237,000. Finally, AlphaQuest LLC purchased a new position in MongoDB in the 4th quarter valued at approximately $290,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at MongoDB

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $267.85, for a total transaction of $1,339,250.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. The trade was a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 169 shares of MongoDB stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $39,561.21. Following the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,314 shares of company stock valued at $12,981,833. 3.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

MDB has been the subject of several research analyst reports. Truist Financial dropped their price objective on MongoDB from $400.00 to $300.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. The Goldman Sachs Group dropped their price target on MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Cantor Fitzgerald assumed coverage on MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price target for the company. Wells Fargo & Company downgraded MongoDB from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Finally, Tigress Financial raised their price target on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus price target of $319.87.

MongoDB Price Performance

Shares of MDB opened at $195.70 on Wednesday. The stock’s 50-day moving average is $259.87 and its two-hundred day moving average is $273.64. The stock has a market cap of $14.57 billion, a PE ratio of -71.42 and a beta of 1.30. MongoDB, Inc. has a 12 month low of $173.13 and a 12 month high of $387.19.

MongoDB (NASDAQ:MDB) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the previous year, the firm posted $0.86 earnings per share. On average, research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.