Everence Capital Management Inc. Invests $624,000 in MongoDB, Inc. (NASDAQ:MDB)

Everence Capital Management Inc. acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,680 shares of the company’s stock, valued at approximately $624,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDB. Jennison Associates LLC grew its stake in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the period. Thrivent Financial for Lutherans grew its position in MongoDB by 1,098.1% during the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares during the period. Point72 Asset Management L.P. purchased a new stake in MongoDB during the second quarter valued at approximately $52,131,000. Avala Global LP bought a new position in MongoDB in the third quarter worth approximately $47,960,000. Finally, Renaissance Technologies LLC boosted its stake in shares of MongoDB by 828.9% during the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after acquiring an additional 163,300 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on MDB. Scotiabank raised their target price on MongoDB from $295.00 to $350.00 and gave the stock a “sector perform” rating in a report on Tuesday, December 10th. KeyCorp raised their price objective on MongoDB from $330.00 to $375.00 and gave the stock an “overweight” rating in a research note on Thursday, December 5th. Macquarie started coverage on MongoDB in a research note on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective for the company. Royal Bank of Canada raised their target price on shares of MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley upped their price target on shares of MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $366.14.

MongoDB Price Performance

Shares of MDB stock opened at $246.39 on Friday. The company has a market cap of $18.35 billion, a PE ratio of -89.92 and a beta of 1.17. The stock’s 50 day simple moving average is $284.50 and its two-hundred day simple moving average is $268.24. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period last year, the company earned $0.96 earnings per share. MongoDB’s revenue was up 22.3% on a year-over-year basis. Equities research analysts expect that MongoDB, Inc. will post -1.86 EPS for the current year.

Insider Activity at MongoDB

In other news, Director Hope F. Cochran sold 1,175 shares of MongoDB stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $266.99, for a total transaction of $313,713.25. Following the completion of the sale, the director now directly owns 17,570 shares in the company, valued at approximately $4,691,014.30. This trade represents a 6.27 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $272.97, for a total transaction of $272,970.00. Following the sale, the director now directly owns 1,130,006 shares of the company’s stock, valued at $308,457,737.82. This represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 23,879 shares of company stock worth $6,985,212. Insiders own 3.60% of the company’s stock.

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.