MongoDB, Inc. (NASDAQ:MDB) Shares Bought by Pictet Asset Management SA

Pictet Asset Management SA grew its stake in shares of MongoDB, Inc. (NASDAQ:MDBGet Rating) by 14.6% in the second quarter, Holdings Channel.com reports. The fund owned 22,405 shares of the company’s stock after purchasing an additional 2,854 shares during the period. Pictet Asset Management SA’s holdings in MongoDB were worth $5,814,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cullen Frost Bankers Inc. purchased a new position in MongoDB in the 1st quarter valued at approximately $44,000. John W. Brooker & Co. CPAs purchased a new position in shares of MongoDB in the second quarter valued at $26,000. Prentice Wealth Management LLC purchased a new stake in shares of MongoDB in the 2nd quarter worth about $26,000. Venture Visionary Partners LLC acquired a new stake in MongoDB in the 2nd quarter valued at about $28,000. Finally, Tcwp LLC purchased a new position in MongoDB during the 1st quarter valued at about $52,000. Hedge funds and other institutional investors own 89.85% of the company’s stock.

MongoDB Stock Down 2.4 %

Shares of NASDAQ MDB opened at $159.88 on Friday. The stock has a market capitalization of $10.99 billion, a PE ratio of -29.83 and a beta of 1.07. 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 firm has a fifty day moving average of $189.34 and a 200-day moving average of $255.20. MongoDB, Inc. has a 52-week low of $135.15 and a 52-week high of $580.47.

MongoDB (NASDAQ:MDBGet Rating) last posted its quarterly earnings results on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.52) by ($0.17). The firm had revenue of $303.66 million for the quarter, compared to analysts’ expectations of $282.31 million. MongoDB had a negative net margin of 33.43% and a negative return on equity of 52.05%. MongoDB’s revenue was up 52.8% on a year-over-year basis. During the same period last year, the firm posted ($1.15) EPS. On average, analysts anticipate that MongoDB, Inc. will post -5.37 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, insider Thomas Bull sold 502 shares of MongoDB stock in a transaction that occurred on Monday, October 3rd. The shares were sold at an average price of $198.84, for a total transaction of $99,817.68. Following the transaction, the insider now directly owns 16,602 shares of the company’s stock, valued at $3,301,141.68. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, Director Dwight A. Merriman sold 14,095 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $199.13, for a total value of $2,806,737.35. Following the completion of the sale, the director now owns 1,322,954 shares of the company’s stock, valued at $263,439,830.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Thomas Bull sold 502 shares of the firm’s stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $198.84, for a total value of $99,817.68. Following the sale, the insider now owns 16,602 shares in the company, valued at $3,301,141.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 87,665 shares of company stock valued at $19,034,603. 5.70% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird reduced their price target 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. Truist Financial initiated coverage on MongoDB in a report on Friday, September 30th. They set a “buy” rating and a $300.00 target price on the stock. Credit Suisse Group cut their price target on MongoDB from $500.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Royal Bank of Canada decreased their price objective on MongoDB from $400.00 to $350.00 and set an “outperform” rating on the stock in a research note on Thursday, September 1st. Finally, Piper Sandler dropped their price objective on MongoDB from $350.00 to $270.00 and set an “overweight” rating for the company in a research report on Thursday, October 20th. Two analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $360.84.

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.

See Also

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDBGet Rating).

Institutional Ownership by Quarter for MongoDB (NASDAQ:MDB)

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