Welch & Forbes LLC Increases Stake in MongoDB, Inc. (NASDAQ:MDB)

Welch & Forbes LLC boosted its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 15.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,318 shares of the company's stock after acquiring an additional 3,309 shares during the period. Welch & Forbes LLC's holdings in MongoDB were worth $5,661,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Hilltop National Bank boosted its holdings in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after buying an additional 42 shares in the last quarter. NCP Inc. bought a new position in shares of MongoDB during the 4th quarter worth approximately $35,000. Brooklyn Investment Group bought a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. Continuum Advisory LLC boosted its holdings in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after buying an additional 118 shares in the last quarter. Finally, Versant Capital Management Inc boosted its holdings in shares of MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $42,000 after buying an additional 165 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of research analyst reports. Canaccord Genuity Group cut their price target on MongoDB from $385.00 to $320.00 and set a "buy" rating on the stock in a report on Thursday. UBS Group set a $350.00 price target on MongoDB in a report on Tuesday. Cantor Fitzgerald assumed coverage on MongoDB in a research report on Wednesday. They set an "overweight" rating and a $344.00 target price on the stock. Loop Capital lowered their target price on MongoDB from $400.00 to $350.00 and set a "buy" rating on the stock in a research report on Monday, March 3rd. Finally, Scotiabank reaffirmed a "sector perform" rating and set a $240.00 target price (down from $275.00) on shares of MongoDB in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $319.87.

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MongoDB Trading Down 2.8 %

Shares of MDB stock traded down $5.33 on Friday, hitting $187.65. 5,777,748 shares of the stock were exchanged, compared to its average volume of 1,644,879. The firm has a market capitalization of $13.97 billion, a PE ratio of -68.49 and a beta of 1.30. MongoDB, Inc. has a one year low of $181.05 and a one year high of $387.19. The firm's 50 day moving average is $261.68 and its two-hundred day moving average is $274.23.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. During the same quarter in the prior year, the business earned $0.86 EPS. On average, sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Michael Lawrence Gordon sold 1,245 shares of the firm's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $291,442.05. Following the transaction, the chief financial officer now directly owns 79,062 shares of the company's stock, valued at approximately $18,507,623.58. This trade represents a 1.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cedric Pech sold 287 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock worth $13,337,753 in the last quarter. 3.60% of the stock is owned by company insiders.

MongoDB Company 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.