Bleakley Financial Group LLC Increases Holdings in MongoDB, Inc. (NASDAQ:MDB)

Bleakley Financial Group LLC grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 10.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 939 shares of the company’s stock after buying an additional 89 shares during the quarter. Bleakley Financial Group LLC’s holdings in MongoDB were worth $254,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in MDB. Jennison Associates LLC increased its position in MongoDB by 14.3% during the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after acquiring an additional 551,567 shares during the last quarter. Swedbank AB increased its position in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after acquiring an additional 400,705 shares during the last quarter. Thrivent Financial for Lutherans increased 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 acquiring an additional 388,979 shares during the last quarter. Clearbridge Investments LLC increased its position in MongoDB by 109.0% during the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after acquiring an additional 232,101 shares during the last quarter. Finally, Point72 Asset Management L.P. bought a new position in MongoDB during the second quarter valued at $52,131,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDB has been the subject of a number of recent analyst reports. Tigress Financial dropped their price objective on MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. UBS Group raised their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research note on Friday, August 30th. Piper Sandler raised their price target on shares of MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Stifel Nicolaus raised their price target on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $337.96.

Insiders Place Their Bets

In other MongoDB news, CRO Cedric Pech sold 302 shares of MongoDB 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 sale, the executive now owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction 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 completion of the transaction, the director now owns 1,135,006 shares of the company’s stock, valued at $330,048,394.74. 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 this hyperlink. Also, CRO Cedric Pech sold 302 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $77,387.50. Following the transaction, the executive now directly owns 33,440 shares of the company’s stock, valued at approximately $8,569,000. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 23,281 shares of company stock valued at $6,310,411. 3.60% of the stock is owned by company insiders.

MongoDB Price Performance

Shares of MDB stock opened at $260.96 on Thursday. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of -92.87 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The stock’s 50-day simple moving average is $271.92 and its 200-day simple moving average is $283.25.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. As a group, equities analysts forecast that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

About MongoDB

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.