Phoenix Financial Ltd. Grows Position in MongoDB, Inc. $MDB

Phoenix Financial Ltd. boosted its stake in MongoDB, Inc. (NASDAQ:MDB) by 73.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 4,061 shares of the company’s stock after purchasing an additional 1,717 shares during the quarter. Phoenix Financial Ltd.’s holdings in MongoDB were worth $1,704,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the business. Allworth Financial LP grew its stake in MongoDB by 41.7% during the fourth quarter. Allworth Financial LP now owns 1,654 shares of the company’s stock worth $694,000 after buying an additional 487 shares during the period. Knuff & Co LLC grew its stake in MongoDB by 13.1% during the fourth quarter. Knuff & Co LLC now owns 14,171 shares of the company’s stock worth $5,947,000 after buying an additional 1,642 shares during the period. Hirtle Callaghan & Co LLC purchased a new stake in MongoDB during the fourth quarter worth approximately $351,000. Meridian Wealth Management LLC purchased a new stake in MongoDB during the fourth quarter worth approximately $432,000. Finally, HighPoint Advisor Group LLC grew its stake in MongoDB by 2.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock worth $626,000 after buying an additional 36 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on MDB. Monness Crespi & Hardt decreased their price objective on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Guggenheim reiterated a “buy” rating and set a $475.00 price objective on shares of MongoDB in a research note on Tuesday, April 14th. Wedbush decreased their price objective on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Rosenblatt Securities reiterated a “buy” rating and set a $425.00 price objective on shares of MongoDB in a research note on Monday, March 2nd. Finally, Truist Financial decreased their price objective on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Twenty-six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average target price of $364.23.

MongoDB Trading Up 3.0%

NASDAQ MDB opened at $312.16 on Friday. The company’s fifty day simple moving average is $262.43 and its 200-day simple moving average is $335.77. MongoDB, Inc. has a 52 week low of $182.43 and a 52 week high of $444.72. The stock has a market cap of $25.09 billion, a P/E ratio of -354.73 and a beta of 1.48.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $669.40 million. During the same period in the previous year, the business earned $1.28 EPS. MongoDB’s revenue for the quarter was up 26.8% compared to the same quarter last year. On average, research analysts expect that MongoDB, Inc. will post -0.46 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $290.06, for a total value of $580,120.00. Following the sale, the director directly owned 1,003,316 shares of the company’s stock, valued at $291,021,838.96. This represents a 0.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the sale, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 15,566 shares of company stock worth $3,875,011 over the last 90 days. 3.10% of the stock is owned by company insiders.

MongoDB 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.