CIBC Private Wealth Group LLC Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

CIBC Private Wealth Group LLC lifted its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 10.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 85,519 shares of the company's stock after purchasing an additional 8,068 shares during the quarter. CIBC Private Wealth Group LLC owned about 0.11% of MongoDB worth $21,267,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Cerity Partners LLC raised its stake in MongoDB by 8.3% in the third quarter. Cerity Partners LLC now owns 9,094 shares of the company's stock valued at $2,459,000 after purchasing an additional 695 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of MongoDB by 3.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,101 shares of the company's stock valued at $7,596,000 after buying an additional 1,022 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of MongoDB by 1.6% during the 3rd quarter. MetLife Investment Management LLC now owns 4,450 shares of the company's stock worth $1,203,000 after acquiring an additional 72 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in MongoDB by 23.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,143 shares of the company's stock worth $4,094,000 after acquiring an additional 2,858 shares in the last quarter. Finally, Icon Wealth Advisors LLC bought a new position in MongoDB in the third quarter valued at $109,000. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on MDB shares. Monness Crespi & Hardt raised MongoDB from a "sell" rating to a "neutral" rating in a research note on Monday, March 3rd. Stifel Nicolaus dropped their target price on MongoDB from $425.00 to $340.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. The Goldman Sachs Group cut their target price on MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Daiwa Capital Markets assumed coverage on shares of MongoDB in a research note on Tuesday. They set an "outperform" rating and a $202.00 price target on the stock. Finally, Bank of America cut their price objective on shares of MongoDB from $420.00 to $286.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and a consensus target price of $312.84.

MongoDB Trading Down 5.5 %

Shares of MDB stock traded down $8.95 during midday trading on Friday, reaching $154.39. 3,888,420 shares of the stock were exchanged, compared to its average volume of 1,757,250. MongoDB, Inc. has a 1 year low of $151.52 and a 1 year high of $387.19. The firm has a market cap of $12.53 billion, a PE ratio of -56.35 and a beta of 1.49. The company's 50 day moving average is $236.68 and its two-hundred day moving average is $261.91.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to analysts' expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the company earned $0.86 earnings per share. As a group, equities analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the transaction, the chief executive officer now directly owns 268,948 shares of the company's stock, valued at approximately $46,597,930.48. This represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,060 shares of company stock valued at $13,461,875 over the last quarter. Corporate insiders own 3.60% of the company's stock.

About MongoDB

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.