Palacios Wealth Management LLC Invests $598,000 in MongoDB, Inc. (NASDAQ:MDB)

Palacios Wealth Management LLC bought a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,415 shares of the company's stock, valued at approximately $598,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of MDB. Jennison Associates LLC boosted its holdings in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after acquiring an additional 592,038 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of MongoDB by 11,057.0% in the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock valued at $69,119,000 after acquiring an additional 294,228 shares in the last quarter. Avala Global LP bought a new position in shares of MongoDB in the third quarter valued at approximately $47,960,000. Eagle Asset Management Inc. bought a new position in shares of MongoDB in the third quarter valued at approximately $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of MongoDB in the third quarter valued at approximately $25,636,000. Institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on MDB shares. Robert W. Baird increased their target price on shares of MongoDB from $380.00 to $390.00 and gave the company an "outperform" rating in a research note on Tuesday, December 10th. Monness Crespi & Hardt lowered shares of MongoDB from a "neutral" rating to a "sell" rating and set a $220.00 target price for the company. in a research note on Monday, December 16th. Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 target price for the company in a research note on Monday, January 6th. Canaccord Genuity Group increased their target price on shares of MongoDB from $325.00 to $385.00 and gave the company a "buy" rating in a research note on Wednesday, December 11th. Finally, Needham & Company LLC increased their target price on shares of MongoDB from $335.00 to $415.00 and gave the company a "buy" rating in a research note on Tuesday, December 10th. Two research 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 stock. According to MarketBeat.com, MongoDB currently has an average rating of "Moderate Buy" and an average target price of $361.00.

Insider Activity

In other news, Director Dwight A. Merriman sold 1,000 shares of the firm's stock in a transaction on Monday, February 10th. The shares were sold at an average price of $281.62, for a total transaction of $281,620.00. Following the transaction, the director now owns 1,112,006 shares in the company, valued at approximately $313,163,129.72. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dev Ittycheria sold 8,335 shares of the firm's stock in a transaction on Friday, January 17th. The shares were sold at an average price of $254.86, for a total transaction of $2,124,258.10. Following the transaction, the chief executive officer now owns 217,294 shares in the company, valued at $55,379,548.84. This represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,094 shares of company stock worth $11,705,293. 3.60% of the stock is owned by corporate insiders.

MongoDB Stock Up 3.1 %

Shares of NASDAQ:MDB traded up $9.06 during trading on Tuesday, reaching $298.69. 1,159,689 shares of the company traded hands, compared to its average volume of 1,516,623. The firm has a market cap of $22.24 billion, a P/E ratio of -109.01 and a beta of 1.28. The firm has a fifty day simple moving average of $261.45 and a 200 day simple moving average of $272.51. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $459.78.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating analysts' consensus estimates 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%. MongoDB's revenue for the quarter was up 22.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.96 EPS. As a group, research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current 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.