Red Spruce Capital LLC Boosts Position in MongoDB, Inc. (NASDAQ:MDB)

Red Spruce Capital LLC increased its holdings in MongoDB, Inc. (NASDAQ:MDB) by 47.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,970 shares of the company’s stock after acquiring an additional 2,551 shares during the quarter. Red Spruce Capital LLC’s holdings in MongoDB were worth $2,155,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Allianz Asset Management GmbH boosted its position in MongoDB by 17.5% during the 4th quarter. Allianz Asset Management GmbH now owns 9,258 shares of the company’s stock valued at $3,785,000 after acquiring an additional 1,379 shares in the last quarter. Royal London Asset Management Ltd. grew its stake in MongoDB by 2.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 25,946 shares of the company’s stock worth $10,608,000 after purchasing an additional 734 shares during the period. Tower Research Capital LLC TRC raised its holdings in MongoDB by 120.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 7,296 shares of the company’s stock worth $2,983,000 after purchasing an additional 3,989 shares in the last quarter. Oppenheimer & Co. Inc. lifted its position in MongoDB by 39.3% during the fourth quarter. Oppenheimer & Co. Inc. now owns 6,143 shares of the company’s stock valued at $2,512,000 after buying an additional 1,733 shares during the period. Finally, Prudential PLC boosted its holdings in shares of MongoDB by 2.4% during the 4th quarter. Prudential PLC now owns 21,169 shares of the company’s stock valued at $8,655,000 after buying an additional 489 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of recent research reports. Scotiabank lifted their price target on shares of MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Wells Fargo & Company boosted their price target on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Friday, August 30th. Needham & Company LLC raised their price objective on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Piper Sandler boosted their target price on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, Oppenheimer raised their price target on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $337.56.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $12.36 during mid-day trading on Friday, reaching $265.36. 1,169,135 shares of the company traded hands, compared to its average volume of 1,459,043. The company’s 50 day moving average price is $261.97 and its 200-day moving average price is $290.91. The firm has a market cap of $19.46 billion, a PE ratio of -94.43 and a beta of 1.15. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

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

Insider Buying and Selling

In other MongoDB news, CFO Michael Lawrence Gordon sold 1,884 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $482,775.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at $20,578,668.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the transaction, the executive now owns 33,440 shares in the company, valued at $8,569,000. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Michael Lawrence Gordon sold 1,884 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $482,775.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares in the company, valued at $20,578,668.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,896 shares of company stock worth $5,448,410. 3.60% of the stock is owned by corporate insiders.

MongoDB 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.