Stonegate Investment Group LLC Has $1.89 Million Stake in MongoDB, Inc. (NASDAQ:MDB)

Stonegate Investment Group LLC raised its position in MongoDB, Inc. (NASDAQ:MDB) by 5.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,979 shares of the company’s stock after buying an additional 360 shares during the quarter. Stonegate Investment Group LLC’s holdings in MongoDB were worth $1,887,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in MDB. EP Wealth Advisors LLC increased its stake in MongoDB by 9.0% during the 4th quarter. EP Wealth Advisors LLC now owns 665 shares of the company’s stock valued at $272,000 after purchasing an additional 55 shares in the last quarter. American International Group Inc. raised its stake in MongoDB by 433.3% in the fourth quarter. American International Group Inc. now owns 6,090 shares of the company’s stock valued at $2,490,000 after purchasing an additional 4,948 shares in the last quarter. SageView Advisory Group LLC bought a new stake in MongoDB during the fourth quarter valued at approximately $252,000. B. Riley Wealth Advisors Inc. increased its stake in shares of MongoDB by 140.4% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,666 shares of the company’s stock worth $1,090,000 after buying an additional 1,557 shares during the period. Finally, PNC Financial Services Group Inc. boosted its holdings in MongoDB by 11.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,746 shares of the company’s stock valued at $1,123,000 after acquiring an additional 272 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Bank of America upped their price target on shares of MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Needham & Company LLC increased their target price on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Tigress Financial lowered their target price on MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a research report on Thursday, July 11th. Mizuho increased their target price on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $337.96.

MongoDB Stock Performance

MDB stock traded up $1.57 during trading on Friday, hitting $273.44. 181,278 shares of the company traded hands, compared to its average volume of 1,454,131. The stock’s 50-day simple moving average is $269.54 and its 200 day simple moving average is $285.99. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The company has a market cap of $20.06 billion, a PE ratio of -96.75 and a beta of 1.15. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s quarterly revenue was up 12.8% on a year-over-year basis. During the same period last year, the business earned ($0.63) earnings per share. On average, equities analysts expect that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at $23,313,925.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the business’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $23,313,925.17. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 1,385 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $287.82, for a total value of $398,630.70. Following the completion of the sale, the director now owns 89,063 shares in the company, valued at $25,634,112.66. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 23,281 shares of company stock worth $6,310,411 over the last three months. 3.60% of the stock is currently owned by corporate insiders.

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.