MongoDB, Inc. (NASDAQ:MDB) Position Increased by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ increased its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 39.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,486 shares of the company’s stock after buying an additional 5,500 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in MongoDB were worth $4,865,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Transcendent Capital Group LLC bought a new position in MongoDB in the 4th quarter worth approximately $25,000. MFA Wealth Advisors LLC bought a new position in shares of MongoDB in the second quarter worth $25,000. YHB Investment Advisors Inc. acquired a new position in shares of MongoDB during the first quarter valued at $41,000. Sunbelt Securities Inc. raised its stake in shares of MongoDB by 155.1% during the first quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock valued at $45,000 after purchasing an additional 76 shares in the last quarter. Finally, J.Safra Asset Management Corp lifted its holdings in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of recent analyst reports. Tigress Financial dropped their price target on shares of MongoDB from $500.00 to $400.00 and set a “buy” rating on the stock in a research report on Thursday, July 11th. Robert W. Baird cut their target price on MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a research report on Friday, May 31st. Morgan Stanley boosted their price objective on MongoDB from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. DA Davidson raised their target price on MongoDB from $265.00 to $330.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Guggenheim raised MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, June 3rd. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and an average target price of $337.56.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $282.89, for a total transaction of $282,890.00. Following the transaction, the chief accounting officer now owns 16,222 shares in the company, valued at approximately $4,589,041.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $282.89, for a total value of $282,890.00. Following the transaction, the chief accounting officer now directly owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $231.00, for a total value of $462,000.00. Following the sale, the director now directly owns 1,140,006 shares of the company’s stock, valued at approximately $263,341,386. The disclosure for this sale can be found here. Insiders sold 22,005 shares of company stock valued at $5,802,746 over the last ninety days. Corporate insiders own 3.60% of the company’s stock.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $278.45 on Monday. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of -99.09 and a beta of 1.15. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. 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 business has a fifty day simple moving average of $259.06 and a 200 day simple moving average of $297.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. During the same period in the previous year, the company earned ($0.63) EPS. The firm’s revenue was up 12.8% on a year-over-year basis. As a group, sell-side analysts predict that MongoDB, Inc. will post -2.46 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.