CIBC Private Wealth Group LLC Buys 8,068 Shares of MongoDB, Inc. (NASDAQ:MDB)

CIBC Private Wealth Group LLC grew its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 10.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 85,519 shares of the company's stock after purchasing an additional 8,068 shares during the period. CIBC Private Wealth Group LLC owned about 0.11% of MongoDB worth $21,267,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Schroder Investment Management Group raised its holdings in shares of MongoDB by 16.8% in the fourth quarter. Schroder Investment Management Group now owns 5,905 shares of the company's stock valued at $1,375,000 after purchasing an additional 849 shares during the last quarter. Arrowstreet Capital Limited Partnership bought a new stake in MongoDB in the 4th quarter worth about $13,832,000. Allstate Corp purchased a new stake in MongoDB in the 4th quarter valued at about $510,000. DnB Asset Management AS lifted its position in shares of MongoDB by 2.4% during the 4th quarter. DnB Asset Management AS now owns 12,604 shares of the company's stock worth $2,934,000 after buying an additional 292 shares in the last quarter. Finally, Orion Portfolio Solutions LLC lifted its position in shares of MongoDB by 19.1% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,076 shares of the company's stock worth $1,414,000 after buying an additional 974 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Trading Down 4.2 %

Shares of NASDAQ MDB traded down $6.86 during midday trading on Friday, hitting $156.48. 2,971,393 shares of the company's stock were exchanged, compared to its average volume of 1,755,185. The business's fifty day moving average price is $238.83 and its two-hundred day moving average price is $263.02. The company has a market cap of $12.70 billion, a price-to-earnings ratio of -56.58 and a beta of 1.49. MongoDB, Inc. has a 12-month low of $151.67 and a 12-month high of $387.19.

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MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS 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 company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same period in the previous year, the company earned $0.86 EPS. Equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the company's stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the sale, the chief executive officer now directly owns 217,294 shares of the company's stock, valued at $55,379,548.84. This represents a 3.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hope F. Cochran sold 1,175 shares of the firm's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total value of $205,260.75. Following the transaction, the director now directly owns 19,333 shares of the company's stock, valued at $3,377,281.77. This represents a 5.73 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,032 shares of company stock valued at $9,818,567. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

MDB has been the subject of a number of research analyst reports. Macquarie decreased their price target on MongoDB from $300.00 to $215.00 and set a "neutral" rating for the company in a research report on Friday, March 7th. Scotiabank reaffirmed a "sector perform" rating and set a $240.00 target price (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. DA Davidson boosted their price target on shares of MongoDB from $340.00 to $405.00 and gave the stock a "buy" rating in a report on Tuesday, December 10th. Canaccord Genuity Group decreased their price objective on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Finally, Citigroup dropped their target price on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $312.84.

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.