Summit Investment Advisors Inc. Acquires 127 Shares of MongoDB, Inc. (NASDAQ:MDB)

Summit Investment Advisors Inc. boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 5.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,350 shares of the company’s stock after buying an additional 127 shares during the quarter. Summit Investment Advisors Inc.’s holdings in MongoDB were worth $547,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of MDB. Morse Asset Management Inc acquired a new position in MongoDB in the 3rd quarter valued at $81,000. Virtu Financial LLC increased its stake in shares of MongoDB by 351.2% in the third quarter. Virtu Financial LLC now owns 10,016 shares of the company’s stock worth $2,708,000 after purchasing an additional 7,796 shares during the period. Wilmington Savings Fund Society FSB acquired a new position in shares of MongoDB during the 3rd quarter worth about $44,000. Tidal Investments LLC boosted its stake in MongoDB by 76.8% during the 3rd quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock valued at $2,125,000 after purchasing an additional 3,415 shares during the period. Finally, Principal Financial Group Inc. increased its position in MongoDB by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after buying an additional 160 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Redburn Atlantic raised shares of MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price on the stock in a research report on Thursday. Oppenheimer cut their price objective on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Macquarie decreased their target price on MongoDB from $300.00 to $215.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Cantor Fitzgerald initiated coverage on MongoDB in a report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price target for the company. Finally, Scotiabank restated a “sector perform” rating and set a $240.00 price objective (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Eight 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 company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $299.78.

MongoDB Stock Down 0.5 %

MongoDB stock opened at $159.26 on Friday. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of -58.12 and a beta of 1.49. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $387.19. The business’s 50-day simple moving average is $208.15 and its 200 day simple moving average is $252.43.

MongoDB (NASDAQ:MDB) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the firm earned $0.86 earnings per share. As a group, sell-side analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling

In related news, CFO Srdjan Tanjga sold 525 shares of the company’s stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the completion of the sale, the chief financial officer now owns 6,406 shares in the company, valued at $1,109,903.56. This represents a 7.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 48,680 shares of company stock valued at $11,084,027 over the last three months. Company insiders own 3.60% of the company’s stock.

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.