Cambridge Investment Research Advisors Inc. lessened its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 8.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,844 shares of the company’s stock after selling 423 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in MongoDB were worth $1,991,000 as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the business. Moody National Bank Trust Division lifted its position in MongoDB by 2.9% during the second quarter. Moody National Bank Trust Division now owns 1,346 shares of the company’s stock worth $553,000 after purchasing an additional 38 shares during the period. CWM LLC lifted its position in MongoDB by 2.4% during the first quarter. CWM LLC now owns 2,235 shares of the company’s stock worth $521,000 after purchasing an additional 52 shares during the period. First Horizon Advisors Inc. lifted its position in MongoDB by 29.5% during the first quarter. First Horizon Advisors Inc. now owns 228 shares of the company’s stock worth $53,000 after purchasing an additional 52 shares during the period. Bleakley Financial Group LLC lifted its position in MongoDB by 5.3% during the first quarter. Bleakley Financial Group LLC now owns 1,144 shares of the company’s stock worth $267,000 after purchasing an additional 58 shares during the period. Finally, Cetera Advisor Networks LLC lifted its position in MongoDB by 7.4% during the second quarter. Cetera Advisor Networks LLC now owns 860 shares of the company’s stock worth $223,000 after purchasing an additional 59 shares during the period. Institutional investors own 88.89% of the company’s stock.
Insider Activity
In other news, CEO Dev Ittycheria sold 134,000 shares of MongoDB stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $327.20, for a total value of $43,844,800.00. Following the completion of the sale, the chief executive officer now owns 218,085 shares in the company, valued at approximately $71,357,412. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dev Ittycheria sold 134,000 shares of MongoDB stock in a transaction on Tuesday, September 26th. The shares were sold at an average price of $327.20, for a total value of $43,844,800.00. Following the completion of the sale, the chief executive officer now owns 218,085 shares of the company’s stock, valued at approximately $71,357,412. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CRO Cedric Pech sold 308 shares of MongoDB stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $326.27, for a total transaction of $100,491.16. Following the completion of the sale, the executive now directly owns 34,110 shares of the company’s stock, valued at approximately $11,129,069.70. The disclosure for this sale can be found here. Insiders sold 239,310 shares of company stock worth $85,874,192 in the last quarter. 4.80% of the stock is owned by corporate insiders.
MongoDB Stock Performance
MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Thursday, August 31st. The company reported ($0.63) earnings per share for the quarter, beating the consensus estimate of ($0.70) by $0.07. The company had revenue of $423.79 million during the quarter, compared to analyst estimates of $389.93 million. MongoDB had a negative net margin of 16.21% and a negative return on equity of 29.69%. Research analysts anticipate that MongoDB, Inc. will post -2.17 earnings per share for the current year.
Analysts Set New Price Targets
MDB has been the subject of a number of research reports. Piper Sandler increased their target price on shares of MongoDB from $400.00 to $425.00 and gave the stock an “overweight” rating in a report on Friday, September 1st. Oppenheimer increased their target price on shares of MongoDB from $430.00 to $480.00 and gave the stock an “outperform” rating in a report on Friday, September 1st. JMP Securities increased their target price on shares of MongoDB from $425.00 to $440.00 and gave the stock a “market outperform” rating in a report on Friday, September 1st. Mizuho increased their target price on shares of MongoDB from $240.00 to $260.00 in a report on Friday, September 1st. Finally, Truist Financial increased their target price on shares of MongoDB from $420.00 to $430.00 and gave the stock a “buy” rating in a report on Friday, September 1st. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $418.08.
Read Our Latest Report on MongoDB
About MongoDB
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.
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