Geode Capital Management LLC Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Geode Capital Management LLC lifted its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 2.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,230,036 shares of the company's stock after purchasing an additional 34,814 shares during the quarter. Geode Capital Management LLC owned about 1.67% of MongoDB worth $331,776,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of MDB. Blue Trust Inc. lifted its position in MongoDB by 26.6% during the second quarter. Blue Trust Inc. now owns 538 shares of the company's stock valued at $134,000 after purchasing an additional 113 shares during the period. OFI Invest Asset Management boosted its stake in shares of MongoDB by 420.4% in the second quarter. OFI Invest Asset Management now owns 510 shares of the company's stock worth $119,000 after buying an additional 412 shares during the last quarter. Fifth Third Bancorp boosted its stake in shares of MongoDB by 7.6% in the second quarter. Fifth Third Bancorp now owns 620 shares of the company's stock worth $155,000 after buying an additional 44 shares during the last quarter. MFA Wealth Advisors LLC acquired a new stake in MongoDB during the second quarter worth about $25,000. Finally, MN Wealth Advisors LLC purchased a new position in MongoDB during the second quarter valued at approximately $576,000. 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. Royal Bank of Canada lifted their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a report on Tuesday. Mizuho lifted their price target on MongoDB from $275.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group increased their price target on MongoDB from $340.00 to $390.00 and gave the stock a "buy" rating in a research report on Tuesday. Scotiabank boosted their price objective on MongoDB from $295.00 to $350.00 and gave the company a "sector perform" rating in a research report on Tuesday. Finally, Oppenheimer upped their target price on MongoDB from $350.00 to $400.00 and gave the stock an "outperform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MongoDB presently has a consensus rating of "Moderate Buy" and an average target price of $370.08.

Insiders Place Their Bets

In other news, CRO Cedric Pech sold 302 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares of the company's stock, valued at approximately $8,569,000. The trade was a 0.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 154 shares of the firm's stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock worth $7,611,849 in the last quarter. 3.60% of the stock is owned by company insiders.

MongoDB Stock Down 7.4 %

NASDAQ:MDB traded down $21.42 during trading hours on Friday, reaching $267.19. 5,086,127 shares of the stock were exchanged, compared to its average volume of 1,534,332. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The business has a 50-day moving average of $293.17 and a two-hundred day moving average of $268.08. The company has a market capitalization of $19.74 billion, a price-to-earnings ratio of -97.51 and a beta of 1.17.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to analysts' expectations of $497.39 million. The business's quarterly revenue was up 22.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.96 earnings per share. On average, research analysts forecast that MongoDB, Inc. will post -2.29 EPS for the current fiscal year.

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.