Hsbc Holdings PLC increased its holdings in MongoDB, Inc. (NASDAQ:MDB – Free Report) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 41,036 shares of the company’s stock after acquiring an additional 6,466 shares during the quarter. Hsbc Holdings PLC owned approximately 0.05% of MongoDB worth $10,044,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of MDB. ValueAct Holdings L.P. grew its position in MongoDB by 206.8% during the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares during the last quarter. State Street Corp raised its holdings in shares of MongoDB by 2.3% in the fourth quarter. State Street Corp now owns 1,796,847 shares of the company’s stock valued at $754,119,000 after buying an additional 40,219 shares during the last quarter. Amundi boosted its stake in shares of MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after buying an additional 563,995 shares during the period. Geode Capital Management LLC boosted its stake in shares of MongoDB by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,444,384 shares of the company’s stock worth $604,429,000 after buying an additional 9,693 shares during the period. Finally, Norges Bank purchased a new position in shares of MongoDB during the fourth quarter worth about $574,821,000. Hedge funds and other institutional investors own 89.29% of the company’s stock.
MongoDB Stock Down 0.9%
Shares of NASDAQ:MDB opened at $304.97 on Thursday. The company has a market cap of $24.53 billion, a P/E ratio of -824.24, a PEG ratio of 1,260.86 and a beta of 1.55. MongoDB, Inc. has a 52 week low of $198.47 and a 52 week high of $444.72. The company has a 50-day moving average price of $337.11 and a 200 day moving average price of $321.10.
Insider Transactions at MongoDB
In other MongoDB news, Director Dev Ittycheria sold 40,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $383.16, for a total value of $15,326,400.00. Following the completion of the sale, the director owned 161,762 shares of the company’s stock, valued at approximately $61,980,727.92. This trade represents a 19.83% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,130 shares of the business’s stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $334.25, for a total transaction of $377,702.50. Following the sale, the director owned 982,953 shares in the company, valued at $328,552,040.25. The trade was a 0.11% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 127,746 shares of company stock valued at $47,343,538. 2.60% of the stock is owned by company insiders.
Analysts Set New Price Targets
MDB has been the topic of several recent research reports. Stifel Nicolaus set a $435.00 price target on MongoDB in a research report on Friday, May 29th. Robert W. Baird increased their price objective on MongoDB from $260.00 to $335.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 20th. Rosenblatt Securities reiterated a “buy” rating and issued a $385.00 target price on shares of MongoDB in a research note on Tuesday, May 26th. Piper Sandler boosted their target price on MongoDB from $330.00 to $400.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Finally, Truist Financial upped their price target on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research note on Thursday, July 9th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $405.35.
View Our Latest Stock Analysis on MongoDB
About MongoDB
MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.
The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.
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