Empire Life Investments Inc. Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Empire Life Investments Inc. boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 12.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,535 shares of the company's stock after acquiring an additional 3,277 shares during the period. Empire Life Investments Inc.'s holdings in MongoDB were worth $6,876,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MDB. B.O.S.S. Retirement Advisors LLC acquired a new position in MongoDB in the 4th quarter valued at about $606,000. Aigen Investment Management LP acquired a new position in MongoDB in the third quarter valued at approximately $1,045,000. Geode Capital Management LLC grew its position in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock worth $331,776,000 after acquiring an additional 34,814 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in MongoDB during the third quarter worth $4,366,000. Finally, Charles Schwab Investment Management Inc. raised its position in MongoDB by 2.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company's stock valued at $75,271,000 after purchasing an additional 7,575 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analysts Set New Price Targets

MDB has been the subject of a number of recent analyst reports. Barclays cut their price objective on MongoDB from $400.00 to $330.00 and set an "overweight" rating for the company in a research report on Friday, January 10th. KeyCorp upped their price objective on shares of MongoDB from $330.00 to $375.00 and gave the stock an "overweight" rating in a report on Thursday, December 5th. Piper Sandler reiterated an "overweight" rating and issued a $425.00 target price on shares of MongoDB in a report on Tuesday, December 10th. Robert W. Baird increased their target price on MongoDB from $380.00 to $390.00 and gave the stock an "outperform" rating in a research note on Tuesday, December 10th. Finally, Mizuho boosted their price target on shares of MongoDB from $275.00 to $320.00 and gave the stock a "neutral" rating in a research note on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, MongoDB currently has a consensus rating of "Moderate Buy" and an average price target of $361.00.

MongoDB Stock Down 1.2 %

Shares of NASDAQ MDB traded down $3.52 during mid-day trading on Wednesday, hitting $295.00. 1,056,658 shares of the company were exchanged, compared to its average volume of 1,502,277. The stock has a 50 day simple moving average of $261.56 and a 200-day simple moving average of $273.13. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $459.78. The firm has a market cap of $21.97 billion, a price-to-earnings ratio of -107.66 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 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. The business had revenue of $529.40 million for 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 business's quarterly revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 earnings per share. Analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, CAO Thomas Bull sold 1,000 shares of the business's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company's stock, valued at $5,363,002.56. The trade was a 6.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Cedric Pech sold 287 shares of the firm's stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares of the company's stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 43,094 shares of company stock valued at $11,705,293. 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.