Covea Finance Acquires Shares of 16,500 MongoDB, Inc. (NASDAQ:MDB)

Covea Finance bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 16,500 shares of the company's stock, valued at approximately $3,841,000.

Other large investors have also recently made changes to their positions in the company. Hilltop National Bank raised its position in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares in the last quarter. Quarry LP raised its holdings in shares of MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company's stock valued at $33,000 after acquiring an additional 129 shares in the last quarter. Brooklyn Investment Group purchased a new stake in MongoDB in the third quarter worth about $36,000. GAMMA Investing LLC grew its holdings in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company's stock worth $39,000 after acquiring an additional 93 shares in the last quarter. Finally, Continuum Advisory LLC increased its position in MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company's stock valued at $40,000 after purchasing an additional 118 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on MDB shares. Mizuho increased their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. The Goldman Sachs Group lifted their price target on MongoDB from $340.00 to $390.00 and gave the company a "buy" rating in a report on Tuesday, December 10th. Oppenheimer upped their price objective on MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. DA Davidson raised their price objective on MongoDB from $340.00 to $405.00 and gave the company a "buy" rating in a research report on Tuesday, December 10th. Finally, Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price target for the company in a research report on Monday, January 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-two have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and an average price target of $364.64.

Insider Transactions at MongoDB

In other news, CEO Dev Ittycheria sold 2,581 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $604,186.29. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $50,866,352.46. This trade represents a 1.17 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the company's stock in a transaction dated Monday, November 4th. The stock was sold at an average price of $269.57, for a total value of $808,710.00. Following the completion of the transaction, the director now directly owns 1,127,006 shares of the company's stock, valued at $303,807,007.42. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 24,821 shares of company stock worth $6,831,215 over the last quarter. 3.60% of the stock is currently owned by insiders.

MongoDB Price Performance

MDB traded up $0.50 during trading on Wednesday, reaching $242.91. 1,065,240 shares of the company's stock were exchanged, compared to its average volume of 1,540,886. The company's fifty day simple moving average is $279.90 and its 200-day simple moving average is $269.32. The stock has a market capitalization of $18.09 billion, a P/E ratio of -88.65 and a beta of 1.25. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.68 by $0.48. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm's quarterly revenue was up 22.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.96 earnings per share. Equities analysts forecast that MongoDB, Inc. will post -1.86 EPS for the current year.

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.