Telemark Asset Management LLC acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 40,000 shares of the company’s stock, valued at approximately $16,788,000. MongoDB makes up approximately 1.7% of Telemark Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding.
Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC raised its holdings in shares of MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after buying an additional 61 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of MongoDB during the 4th quarter valued at about $28,000. Huntington National Bank raised its holdings in shares of MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after buying an additional 51 shares in the last quarter. International Assets Investment Management LLC purchased a new position in shares of MongoDB during the 4th quarter valued at about $33,000. Finally, Root Financial Partners LLC raised its holdings in shares of MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after buying an additional 32 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.
MongoDB Price Performance
MDB opened at $350.74 on Friday. The stock’s 50 day simple moving average is $285.37 and its 200 day simple moving average is $334.35. MongoDB, Inc. has a 1 year low of $196.00 and a 1 year high of $444.72. The firm has a market cap of $28.19 billion, a price-to-earnings ratio of -947.95 and a beta of 1.57.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on MDB. Wells Fargo & Company decreased their price objective on MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Canaccord Genuity Group raised their price target on MongoDB from $375.00 to $400.00 and gave the stock a “buy” rating in a research report on Wednesday, May 27th. Truist Financial reduced their price target on MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Wedbush raised their price target on MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a research report on Friday, May 29th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $395.00 price target on shares of MongoDB in a research report on Tuesday, May 19th. Twenty-eight equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $394.45.
Check Out Our Latest Report on MongoDB
Insider Activity at MongoDB
In related news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total transaction of $390,450.78. Following the completion of the transaction, the director owned 24,093 shares in the company, valued at $6,007,107.69. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $297.99, for a total value of $2,979,900.00. Following the transaction, the director owned 993,316 shares of the company’s stock, valued at approximately $295,998,234.84. This represents a 1.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 76,616 shares of company stock worth $26,629,774 over the last quarter. 2.60% of the stock is owned by corporate insiders.
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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