24,050 Shares in MongoDB, Inc. (NASDAQ:MDB) Bought by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 24,050 shares of the company's stock, valued at approximately $6,012,000. MongoDB accounts for 1.5% of Sierra Summit Advisors LLC's portfolio, making the stock its 28th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Securities Inc. acquired a new stake in MongoDB in the 4th quarter valued at about $137,000. Dimensional Fund Advisors LP boosted its position in MongoDB by 2.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 91,696 shares of the company's stock valued at $37,495,000 after buying an additional 2,476 shares during the last quarter. Envestnet Portfolio Solutions Inc. increased its stake in shares of MongoDB by 15.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 2,179 shares of the company's stock valued at $891,000 after buying an additional 298 shares during the period. Janney Montgomery Scott LLC raised its position in shares of MongoDB by 134.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 3,905 shares of the company's stock worth $1,597,000 after acquiring an additional 2,240 shares during the last quarter. Finally, Foundations Investment Advisors LLC boosted its holdings in MongoDB by 24.0% in the fourth quarter. Foundations Investment Advisors LLC now owns 728 shares of the company's stock valued at $298,000 after acquiring an additional 141 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Transactions at MongoDB

In other MongoDB news, CRO Cedric Pech sold 273 shares of the stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $72,424.17. Following the completion of the transaction, the executive now directly owns 35,719 shares in the company, valued at $9,475,893.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CRO Cedric Pech sold 273 shares of the business's stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $72,424.17. Following the sale, the executive now owns 35,719 shares of the company's stock, valued at $9,475,893.51. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John Dennis Mcmahon sold 10,000 shares of the firm's stock in a transaction dated Monday, June 24th. The stock was sold at an average price of $228.00, for a total value of $2,280,000.00. Following the transaction, the director now owns 20,020 shares of the company's stock, valued at $4,564,560. The disclosure for this sale can be found here. In the last 90 days, insiders sold 32,005 shares of company stock valued at $8,082,746. Company insiders own 3.60% of the company's stock.

MongoDB Stock Performance

Shares of MDB stock traded down $0.04 on Monday, hitting $290.05. The company's stock had a trading volume of 794,772 shares, compared to its average volume of 1,497,619. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The stock's 50 day moving average is $255.85 and its 200-day moving average is $302.21. The company has a market capitalization of $21.28 billion, a PE ratio of -103.23 and a beta of 1.15.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million for the quarter, compared to analysts' expectations of $465.03 million. During the same period last year, the firm earned ($0.63) earnings per share. The business's revenue for the quarter was up 12.8% on a year-over-year basis. Equities research analysts expect that MongoDB, Inc. will post -2.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of recent research reports. Sanford C. Bernstein raised their price objective on shares of MongoDB from $358.00 to $360.00 and gave the company an "outperform" rating in a research note on Friday, August 30th. Royal Bank of Canada reissued an "outperform" rating and set a $350.00 target price on shares of MongoDB in a research note on Friday, August 30th. Morgan Stanley raised their price objective on shares of MongoDB from $320.00 to $340.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Truist Financial lifted their price target on MongoDB from $300.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, August 30th. Finally, Tigress Financial decreased their price target on shares of MongoDB from $500.00 to $400.00 and set a "buy" rating for the company in a research note on Thursday, July 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $337.56.

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.