Raymond James & Associates Lowers Stake in MongoDB, Inc. (NASDAQ:MDB)

Raymond James & Associates lowered its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 21.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 44,082 shares of the company's stock after selling 11,908 shares during the period. Raymond James & Associates owned about 0.06% of MongoDB worth $11,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sunbelt Securities Inc. lifted its holdings in shares of MongoDB by 155.1% in the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company's stock valued at $45,000 after acquiring an additional 76 shares during the last quarter. Diversified Trust Co raised its stake in shares of MongoDB by 19.0% during the first quarter. Diversified Trust Co now owns 4,111 shares of the company's stock valued at $1,474,000 after acquiring an additional 657 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of MongoDB by 2.3% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 182,727 shares of the company's stock valued at $65,533,000 after acquiring an additional 4,034 shares in the last quarter. Azzad Asset Management Inc. ADV increased its holdings in MongoDB by 650.2% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,214 shares of the company's stock valued at $1,870,000 after buying an additional 4,519 shares during the period. Finally, BluePath Capital Management LLC purchased a new position in MongoDB during the first quarter valued at approximately $203,000. Institutional investors own 89.29% of the company's stock.

Insiders Place Their Bets

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company's stock, valued at approximately $23,313,925.17. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the transaction, the chief financial officer now directly owns 80,307 shares of the company's stock, valued at $23,313,925.17. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 1,385 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $287.82, for a total transaction of $398,630.70. Following the completion of the transaction, the director now directly owns 89,063 shares in the company, valued at $25,634,112.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 23,281 shares of company stock worth $6,310,411 in the last ninety days. 3.60% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MDB. Scotiabank lifted their price target on shares of MongoDB from $250.00 to $295.00 and gave the stock a "sector perform" rating in a report on Friday, August 30th. Mizuho lifted their price target on shares of MongoDB from $250.00 to $275.00 and gave the stock a "neutral" rating in a report on Friday, August 30th. Truist Financial lifted their price target on shares of MongoDB from $300.00 to $320.00 and gave the stock a "buy" rating in a report on Friday, August 30th. Piper Sandler lifted their price target on shares of MongoDB from $300.00 to $335.00 and gave the stock an "overweight" rating in a report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $337.96.

MongoDB Price Performance

Shares of MDB stock traded up $3.03 on Tuesday, reaching $275.21. 657,269 shares of the company were exchanged, compared to its average volume of 1,442,306. The company has a market cap of $20.19 billion, a price-to-earnings ratio of -96.86 and a beta of 1.15. The business has a 50-day moving average price of $272.87 and a 200 day moving average price of $280.83. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. 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 announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts' expectations of $465.03 million. During the same quarter in the prior year, the company earned ($0.63) EPS. MongoDB's revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

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.