Amalgamated Bank Raises Stake in MongoDB, Inc. (NASDAQ:MDB)

Amalgamated Bank boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDBGet Rating) by 9.2% during the 1st quarter, HoldingsChannel reports. The firm owned 14,688 shares of the company’s stock after purchasing an additional 1,233 shares during the period. Amalgamated Bank’s holdings in MongoDB were worth $6,515,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New Hampshire purchased a new stake in shares of MongoDB in the first quarter valued at about $25,000. Covestor Ltd purchased a new stake in shares of MongoDB in the fourth quarter valued at about $43,000. Aaron Wealth Advisors LLC purchased a new stake in shares of MongoDB in the first quarter valued at about $43,000. Cullen Frost Bankers Inc. purchased a new stake in shares of MongoDB in the first quarter valued at about $44,000. Finally, Tcwp LLC purchased a new stake in shares of MongoDB in the first quarter valued at about $52,000. 89.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of research analyst reports. Robert W. Baird decreased their price objective on shares of MongoDB from $360.00 to $330.00 and set an “outperform” rating on the stock in a report on Thursday, September 1st. UBS Group decreased their price objective on shares of MongoDB from $430.00 to $390.00 and set a “buy” rating on the stock in a report on Thursday, September 1st. Oppenheimer decreased their price objective on shares of MongoDB from $490.00 to $400.00 and set an “outperform” rating on the stock in a report on Thursday, June 2nd. Citigroup decreased their price objective on shares of MongoDB from $450.00 to $445.00 and set a “buy” rating on the stock in a report on Thursday, September 1st. Finally, Barclays decreased their price objective on shares of MongoDB from $438.00 to $360.00 and set an “overweight” rating on the stock in a report on Thursday, September 1st. One equities research analyst has rated the stock with a sell rating and eighteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $386.83.

Insider Activity at MongoDB

In related news, CRO Cedric Pech sold 11,340 shares of MongoDB stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $250.00, for a total value of $2,835,000.00. Following the transaction, the executive now owns 34,445 shares in the company, valued at $8,611,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other MongoDB news, insider Thomas Bull sold 489 shares of the business’s stock in a transaction dated Tuesday, July 5th. The stock was sold at an average price of $264.45, for a total transaction of $129,316.05. Following the transaction, the insider now owns 17,104 shares in the company, valued at $4,523,152.80. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CRO Cedric Pech sold 11,340 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $250.00, for a total value of $2,835,000.00. Following the transaction, the executive now owns 34,445 shares in the company, valued at approximately $8,611,250. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,789 shares of company stock worth $18,925,825. 5.70% of the stock is owned by insiders.

MongoDB Price Performance

MDB stock opened at $220.58 on Monday. MongoDB, Inc. has a 52-week low of $213.39 and a 52-week high of $590.00. The stock’s fifty day simple moving average is $307.89 and its 200-day simple moving average is $318.21. The company has a quick ratio of 4.02, a current ratio of 4.02 and a debt-to-equity ratio of 1.70. The stock has a market capitalization of $15.16 billion, a price-to-earnings ratio of -41.15 and a beta of 0.95.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings data on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.17). MongoDB had a negative return on equity of 52.05% and a negative net margin of 33.43%. The business had revenue of $303.66 million for the quarter, compared to analyst estimates of $282.31 million. During the same quarter last year, the business earned ($1.15) EPS. MongoDB’s revenue for the quarter was up 52.8% compared to the same quarter last year. Equities research analysts expect that MongoDB, Inc. will post -5.36 EPS for the current year.

MongoDB Profile

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MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server 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.

Further Reading

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Institutional Ownership by Quarter for MongoDB (NASDAQ:MDB)

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