Truist Financial Corp Has $10.04 Million Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Truist Financial Corp grew its holdings in MongoDB, Inc. (NASDAQ:MDB) by 15.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 40,184 shares of the company’s stock after purchasing an additional 5,509 shares during the period. Truist Financial Corp owned about 0.05% of MongoDB worth $10,044,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Transcendent Capital Group LLC bought a new position in MongoDB in the fourth quarter valued at approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of MongoDB in the second quarter valued at $25,000. J.Safra Asset Management Corp increased its holdings in MongoDB by 682.4% during the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after buying an additional 116 shares during the last quarter. Quarry LP raised its position in MongoDB by 2,580.0% during the second quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after acquiring an additional 129 shares in the last quarter. Finally, Hantz Financial Services Inc. acquired a new stake in MongoDB in the second quarter valued at $35,000. Institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a research note on Friday, August 30th. Oppenheimer upped their price objective on MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Piper Sandler raised their price objective on MongoDB from $300.00 to $335.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. UBS Group increased their price target on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Citigroup lifted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $337.56.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total transaction of $872,370.00. Following the sale, the director now directly owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the sale, the director now owns 1,135,006 shares in the company, valued at $330,048,394.74. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Lawrence Gordon sold 1,884 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were 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 owns 80,307 shares of the company’s stock, 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 valued at $5,448,410. 3.60% of the stock is currently owned by insiders.

MongoDB Stock Performance

Shares of MongoDB stock opened at $265.36 on Friday. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market cap of $19.46 billion, a PE ratio of -94.43 and a beta of 1.15. The company has a 50 day moving average of $261.97 and a 200-day moving average of $290.47. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last released its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. 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 earned ($0.63) earnings per share. The company’s quarterly revenue was up 12.8% on a year-over-year basis. As a group, equities research analysts forecast that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

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.