Ethic Inc. Buys 2,451 Shares of MongoDB, Inc. $MDB

Ethic Inc. boosted its stake in MongoDB, Inc. (NASDAQ:MDB) by 44.6% in the fourth quarter, HoldingsChannel reports. The firm owned 7,952 shares of the company’s stock after acquiring an additional 2,451 shares during the period. Ethic Inc.’s holdings in MongoDB were worth $3,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of MDB. Cornerstone Planning Group LLC lifted its holdings in MongoDB by 1,220.0% in the fourth quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares during the period. Central Pacific Bank Trust Division bought a new position in MongoDB in the fourth quarter valued at about $28,000. Huntington National Bank lifted its holdings in MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 51 shares during the period. International Assets Investment Management LLC bought a new position in MongoDB in the fourth quarter valued at about $33,000. Finally, TD Private Client Wealth LLC lifted its holdings in MongoDB by 2,825.0% in the third quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after acquiring an additional 113 shares during the period. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 8,000 shares of the stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $236.89, for a total transaction of $1,895,120.00. Following the completion of the transaction, the director owned 1,005,316 shares in the company, valued at $238,149,307.24. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the business’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 value of $390,450.78. Following the sale, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. The trade was a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 15,566 shares of company stock valued at $3,875,011 in the last quarter. 3.10% of the stock is owned by company insiders.

MongoDB Price Performance

MongoDB stock opened at $294.65 on Tuesday. The firm’s 50 day moving average price is $260.97 and its 200-day moving average price is $336.46. MongoDB, Inc. has a 1 year low of $182.43 and a 1 year high of $444.72. The stock has a market cap of $23.68 billion, a P/E ratio of -334.83 and a beta of 1.48.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. During the same quarter in the prior year, the firm earned $1.28 EPS. The business’s revenue was up 26.8% on a year-over-year basis. As a group, equities analysts expect that MongoDB, Inc. will post -0.46 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on MDB. Scotiabank upgraded shares of MongoDB from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the company from $275.00 to $310.00 in a research report on Thursday, March 5th. DA Davidson cut their target price on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Barclays cut their target price on shares of MongoDB from $440.00 to $370.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Zacks Research lowered shares of MongoDB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 31st. Finally, UBS Group decreased their target price on MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $361.97.

MongoDB Profile

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.