J. Safra Sarasin Holding AG Makes New $1.04 Million Investment in MongoDB, Inc. $MDB

J. Safra Sarasin Holding AG acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the 4th quarter, HoldingsChannel reports. The fund acquired 2,470 shares of the company’s stock, valued at approximately $1,037,000.

Other hedge funds also recently modified their holdings of the company. Clark Financial Services Group Inc. BD lifted its position in shares of MongoDB by 1.5% during the 4th quarter. Clark Financial Services Group Inc. BD now owns 1,669 shares of the company’s stock valued at $702,000 after acquiring an additional 25 shares during the period. True Wealth Design LLC grew its holdings in MongoDB by 9.4% in the fourth quarter. True Wealth Design LLC now owns 419 shares of the company’s stock worth $176,000 after purchasing an additional 36 shares during the period. Meiji Yasuda Asset Management Co Ltd. increased its stake in MongoDB by 3.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock valued at $342,000 after purchasing an additional 40 shares in the last quarter. Grove Bank & Trust increased its stake in MongoDB by 81.8% in the fourth quarter. Grove Bank & Trust now owns 100 shares of the company’s stock valued at $42,000 after purchasing an additional 45 shares in the last quarter. Finally, Exchange Traded Concepts LLC raised its holdings in shares of MongoDB by 0.3% during the fourth quarter. Exchange Traded Concepts LLC now owns 14,349 shares of the company’s stock valued at $6,022,000 after purchasing an additional 47 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on MDB. Bank of America reissued a “buy” rating on shares of MongoDB in a research report on Tuesday, March 3rd. The Goldman Sachs Group dropped their price target on MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a research note on Wednesday, March 4th. Mizuho upgraded MongoDB from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $290.00 to $325.00 in a report on Monday, March 23rd. Zacks Research cut MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Sanford C. Bernstein cut MongoDB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 3rd. Twenty-seven analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $360.03.

MongoDB Stock Up 1.9%

Shares of MongoDB stock opened at $249.36 on Thursday. The company has a market cap of $20.04 billion, a PE ratio of -283.36 and a beta of 1.40. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $444.72. The business has a 50 day moving average price of $314.65 and a 200-day moving average price of $347.72.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. MongoDB’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other MongoDB news, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the transaction, the director directly owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. The trade was a 0.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last quarter, insiders sold 19,383 shares of company stock worth $7,910,983. 3.10% of the stock is currently owned by company insiders.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.