Ignite Planners LLC Acquires Shares of 587 MongoDB, Inc. (NASDAQ:MDB)

Ignite Planners LLC acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 587 shares of the company’s stock, valued at approximately $228,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in MDB. 1832 Asset Management L.P. raised its stake in shares of MongoDB by 3,283,771.0% during the 4th quarter. 1832 Asset Management L.P. now owns 1,018,000 shares of the company’s stock worth $200,383,000 after buying an additional 1,017,969 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in MongoDB by 13.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,593,996 shares of the company’s stock valued at $1,770,313,000 after purchasing an additional 897,911 shares in the last quarter. Renaissance Technologies LLC increased its stake in MongoDB by 493.2% in the 4th quarter. Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after purchasing an additional 763,400 shares in the last quarter. Norges Bank purchased a new position in MongoDB in the 4th quarter valued at approximately $147,735,000. Finally, Champlain Investment Partners LLC purchased a new position in MongoDB in the 1st quarter valued at approximately $89,157,000. 88.89% of the stock is owned by hedge funds and other institutional investors.

MongoDB Price Performance

NASDAQ:MDB opened at $356.54 on Tuesday. The business’s 50-day moving average is $385.06 and its two-hundred day moving average is $317.99. The company has a debt-to-equity ratio of 1.29, a current ratio of 4.48 and a quick ratio of 4.48. MongoDB, Inc. has a 12 month low of $135.15 and a 12 month high of $439.00.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. KeyCorp raised their price objective on MongoDB from $372.00 to $462.00 and gave the company an “overweight” rating in a research note on Friday, July 21st. Macquarie increased their target price on MongoDB from $434.00 to $456.00 in a report on Friday, September 1st. Canaccord Genuity Group increased their target price on MongoDB from $410.00 to $450.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Citigroup increased their target price on MongoDB from $430.00 to $455.00 and gave the company a “buy” rating in a report on Monday, August 28th. Finally, Needham & Company LLC increased their target price on MongoDB from $430.00 to $445.00 and gave the company a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $418.08.

Insider Transactions at MongoDB

In other news, CTO Mark Porter sold 2,734 shares of MongoDB stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $412.33, for a total transaction of $1,127,310.22. Following the sale, the chief technology officer now directly owns 35,056 shares of the company’s stock, valued at $14,454,640.48. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, CAO Thomas Bull sold 516 shares of the business’s stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $406.78, for a total value of $209,898.48. Following the completion of the sale, the chief accounting officer now directly owns 17,190 shares of the company’s stock, valued at $6,992,548.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CTO Mark Porter sold 2,734 shares of the business’s stock in a transaction dated Monday, July 3rd. The shares were sold at an average price of $412.33, for a total value of $1,127,310.22. Following the completion of the sale, the chief technology officer now directly owns 35,056 shares of the company’s stock, valued at $14,454,640.48. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 102,520 shares of company stock valued at $41,034,674. 4.80% of the stock is currently owned by insiders.

MongoDB Profile

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.