Morse Asset Management Inc Boosts Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Morse Asset Management Inc increased its stake in MongoDB, Inc. (NASDAQ:MDB) by 160.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 782 shares of the company’s stock after buying an additional 482 shares during the period. Morse Asset Management Inc’s holdings in MongoDB were worth $182,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of MDB. Wealth Enhancement Advisory Services LLC raised its stake in MongoDB by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 22,399 shares of the company’s stock worth $5,215,000 after buying an additional 110 shares in the last quarter. FNY Investment Advisers LLC bought a new position in MongoDB in the fourth quarter worth about $411,000. Tealwood Asset Management Inc. bought a new position in MongoDB in the fourth quarter worth about $243,000. Assenagon Asset Management S.A. raised its stake in MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after buying an additional 294,228 shares in the last quarter. Finally, Park Avenue Securities LLC raised its stake in MongoDB by 24.3% in the fourth quarter. Park Avenue Securities LLC now owns 1,723 shares of the company’s stock worth $401,000 after buying an additional 337 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Insider Activity

In other news, Director Dwight A. Merriman sold 885 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total transaction of $258,464.25. Following the completion of the sale, the director now owns 83,845 shares of the company’s stock, valued at $24,486,932.25. This represents a 1.04% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at $2,529,103.50. The trade was a 2.02% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,423 shares of company stock valued at $7,148,369 in the last quarter. 3.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on MDB. Monness Crespi & Hardt upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a report on Monday, March 3rd. Wedbush reduced their price objective on MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Loop Capital lowered their price objective on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research note on Monday, March 3rd. Daiwa America raised MongoDB to a “strong-buy” rating in a report on Tuesday, April 1st. Finally, Citigroup reduced their price target on MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, April 1st. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $294.78.

MongoDB Stock Performance

Shares of NASDAQ:MDB opened at $195.90 on Wednesday. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $379.06. The business has a 50-day simple moving average of $174.62 and a two-hundred day simple moving average of $241.04. The firm has a market cap of $15.90 billion, a price-to-earnings ratio of -71.50 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period last year, the firm posted $0.86 EPS. As a group, research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.