MN Wealth Advisors LLC Has $605,000 Stock Position in MongoDB, Inc. (NASDAQ:MDB)

MN Wealth Advisors LLC lowered its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 16.1% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,450 shares of the company’s stock after selling 663 shares during the period. MN Wealth Advisors LLC’s holdings in MongoDB were worth $605,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Strategic Investment Solutions Inc. IL bought a new stake in MongoDB during the fourth quarter worth $29,000. NCP Inc. acquired a new position in shares of MongoDB during the 4th quarter worth about $35,000. Coppell Advisory Solutions LLC increased its stake in shares of MongoDB by 364.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company’s stock worth $54,000 after purchasing an additional 182 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of MongoDB by 56.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock valued at $87,000 after purchasing an additional 134 shares during the period. Finally, J.Safra Asset Management Corp lifted its stake in MongoDB by 72.0% in the 4th quarter. J.Safra Asset Management Corp now owns 387 shares of the company’s stock valued at $91,000 after purchasing an additional 162 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus lowered their price target on MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. Wells Fargo & Company lowered MongoDB from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $365.00 to $225.00 in a report on Thursday, March 6th. Morgan Stanley dropped their price target on MongoDB from $315.00 to $235.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reaffirmed a “buy” rating and set a $270.00 price target on shares of MongoDB in a report on Thursday, June 5th. Finally, Daiwa Capital Markets initiated coverage on shares of MongoDB in a report on Tuesday, April 1st. They issued an “outperform” rating and a $202.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $282.47.

Insider Activity

In other news, Director Hope F. Cochran sold 1,175 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $174.69, for a total value of $205,260.75. Following the sale, the director now directly owns 19,333 shares in the company, valued at approximately $3,377,281.77. This trade represents a 5.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the transaction, the insider now owns 57,634 shares of the company’s stock, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 49,208 shares of company stock worth $10,167,739. Insiders own 3.10% of the company’s stock.

MongoDB Stock Up 1.5%

MDB stock opened at $205.60 on Wednesday. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $370.00. The business has a 50-day simple moving average of $183.66 and a 200 day simple moving average of $223.80. The company has a market cap of $16.80 billion, a PE ratio of -180.35 and a beta of 1.39.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The firm had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same period last year, the firm earned $0.51 EPS. The business’s quarterly revenue was up 21.8% compared to the same quarter last year. On average, analysts anticipate that MongoDB, Inc. will post -1.78 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.