Independent Advisor Alliance Has $410,000 Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Independent Advisor Alliance boosted its position in MongoDB, Inc. (NASDAQ:MDB) by 5.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,516 shares of the company’s stock after acquiring an additional 76 shares during the period. Independent Advisor Alliance’s holdings in MongoDB were worth $410,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDB. Harvest Fund Management Co. Ltd lifted its stake in shares of MongoDB by 53.3% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 3,403 shares of the company’s stock valued at $919,000 after purchasing an additional 1,183 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in MongoDB in the third quarter valued at about $1,433,000. Daiwa Securities Group Inc. boosted its holdings in MongoDB by 12.3% during the third quarter. Daiwa Securities Group Inc. now owns 10,323 shares of the company’s stock worth $2,791,000 after buying an additional 1,132 shares during the last quarter. Westfield Capital Management Co. LP grew its position in shares of MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after buying an additional 7,526 shares during the period. Finally, Alpha DNA Investment Management LLC bought a new stake in shares of MongoDB in the 3rd quarter valued at about $764,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

Shares of MDB opened at $324.60 on Friday. 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 company’s fifty day simple moving average is $282.65 and its 200 day simple moving average is $272.02. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a market cap of $23.98 billion, a price-to-earnings ratio of -107.48 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the prior year, the firm earned ($0.63) EPS. MongoDB’s quarterly revenue was up 12.8% compared to the same quarter last year. On average, research analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

MDB has been the topic of several recent analyst reports. Wells Fargo & Company lifted their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Truist Financial boosted their price target on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Sanford C. Bernstein lifted their target price on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Oppenheimer increased their price target on MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Barclays raised their price target on MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $340.29.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated 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 sale, the director now owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. The trade was a 0.26 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CRO Cedric Pech sold 302 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the transaction, the executive now directly owns 33,440 shares in the company, valued at approximately $8,569,000. This represents a 0.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock valued at $7,442,189 over the last 90 days. 3.60% of the stock is currently owned by insiders.

MongoDB Company 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.