Pictet Asset Management SA Grows Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Posted by Defense World Staff on Aug 24th, 2023

Pictet Asset Management SA lifted its stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,681 shares of the company’s stock after purchasing an additional 598 shares during the quarter. Pictet Asset Management SA’s holdings in MongoDB were worth $5,521,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of MDB. Raymond James & Associates raised its stake in shares of MongoDB by 32.0% during the first quarter. Raymond James & Associates now owns 4,922 shares of the company’s stock worth $2,183,000 after purchasing an additional 1,192 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in MongoDB by 19.1% during the first quarter. PNC Financial Services Group Inc. now owns 1,282 shares of the company’s stock worth $569,000 after acquiring an additional 206 shares during the period. MetLife Investment Management LLC acquired a new position in MongoDB during the first quarter worth $1,823,000. Panagora Asset Management Inc. grew its holdings in MongoDB by 9.8% during the first quarter. Panagora Asset Management Inc. now owns 1,977 shares of the company’s stock worth $877,000 after acquiring an additional 176 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in MongoDB by 100.3% during the first quarter. Vontobel Holding Ltd. now owns 2,873 shares of the company’s stock worth $1,236,000 after acquiring an additional 1,439 shares during the period. Hedge funds and other institutional investors own 89.22% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of recent analyst reports. Piper Sandler upped their price objective on MongoDB from $270.00 to $400.00 in a report on Friday, June 2nd. Truist Financial upped their price objective on MongoDB from $365.00 to $420.00 in a report on Friday, June 23rd. JMP Securities upped their price objective on MongoDB from $400.00 to $425.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. Tigress Financial upped their price objective on MongoDB from $365.00 to $490.00 in a report on Wednesday, June 28th. Finally, KeyCorp upped their price objective on MongoDB from $372.00 to $462.00 and gave the stock an “overweight” rating in a report on Friday, July 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $378.09.

Read Our Latest Stock Analysis on MongoDB

MongoDB Stock Up 2.4 %

Shares of NASDAQ:MDB opened at $370.74 on Thursday. The stock’s 50-day moving average price is $391.60 and its two-hundred day moving average price is $297.24. The company has a current ratio of 4.19, a quick ratio of 4.19 and a debt-to-equity ratio of 1.44. MongoDB, Inc. has a 12-month low of $135.15 and a 12-month high of $439.00. The firm has a market cap of $26.17 billion, a price-to-earnings ratio of -79.39 and a beta of 1.13.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings results on Thursday, June 1st. The company reported $0.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.38. MongoDB had a negative return on equity of 43.25% and a negative net margin of 23.58%. The firm had revenue of $368.28 million for the quarter, compared to analyst estimates of $347.77 million. During the same period last year, the company earned ($1.15) EPS. The firm’s quarterly revenue was up 29.0% on a year-over-year basis. On average, research analysts forecast that MongoDB, Inc. will post -2.8 EPS for the current year.

Insiders Place Their Bets

In other news, CRO Cedric Pech sold 360 shares of MongoDB stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $406.79, for a total value of $146,444.40. Following the transaction, the executive now directly owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CRO Cedric Pech sold 360 shares of MongoDB stock in a transaction dated Monday, July 3rd. The stock was sold at an average price of $406.79, for a total value of $146,444.40. Following the transaction, the executive now directly owns 37,156 shares of the company’s stock, valued at approximately $15,114,689.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $415.06, for a total value of $2,490,360.00. Following the completion of the transaction, the director now directly owns 1,207,159 shares in the company, valued at $501,043,414.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 102,220 shares of company stock valued at $38,763,571. Insiders own 4.80% of the company’s stock.

MongoDB Profile

(Free Report)

MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.