CIBC Asset Management Inc Grows Position in MongoDB, Inc. (NASDAQ:MDB)

CIBC Asset Management Inc raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 239.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 49,973 shares of the company's stock after purchasing an additional 35,256 shares during the period. CIBC Asset Management Inc owned approximately 0.07% of MongoDB worth $11,634,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Hilltop National Bank boosted its holdings in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after acquiring an additional 42 shares during the last quarter. Brooklyn Investment Group purchased a new position in shares of MongoDB in the 3rd quarter worth approximately $36,000. Continuum Advisory LLC boosted its position in MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after purchasing an additional 118 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in MongoDB in the third quarter worth $44,000. Finally, Versant Capital Management Inc boosted its stake in MongoDB by 1,100.0% in the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after acquiring an additional 165 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently commented on MDB shares. Monness Crespi & Hardt downgraded MongoDB from a "neutral" rating to a "sell" rating and set a $220.00 price objective on the stock. in a research note on Monday, December 16th. Morgan Stanley increased their target price on MongoDB from $340.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 10th. Cantor Fitzgerald started coverage on MongoDB in a report on Friday, January 17th. They set an "overweight" rating and a $344.00 price objective on the stock. Tigress Financial increased their price objective on MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Finally, Macquarie started coverage on shares of MongoDB in a research note on Thursday, December 12th. They issued a "neutral" rating and a $300.00 target price on the stock. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $361.00.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $16.74 during trading hours on Friday, hitting $273.26. The company's stock had a trading volume of 1,580,897 shares, compared to its average volume of 1,505,249. The firm's fifty day moving average price is $261.59 and its 200 day moving average price is $273.25. MongoDB, Inc. has a 52 week low of $212.74 and a 52 week high of $459.70. The company has a market capitalization of $20.35 billion, a price-to-earnings ratio of -99.73 and a beta of 1.28.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping analysts' consensus estimates of $0.68 by $0.48. The firm had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company's revenue was up 22.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. On average, equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Dev Ittycheria sold 8,335 shares of the business's stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares of the company's stock, valued at $55,379,548.84. The trade was a 3.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 169 shares of the company's stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares of the company's stock, valued at $3,487,706.91. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,979 shares of company stock valued at $11,963,757. 3.60% of the stock is currently owned by corporate insiders.

MongoDB 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.