Rafferty Asset Management LLC Has $12.18 Million Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Rafferty Asset Management LLC increased its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 24.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 52,321 shares of the company’s stock after purchasing an additional 10,172 shares during the period. Rafferty Asset Management LLC’s holdings in MongoDB were worth $12,181,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in MDB. Norges Bank acquired a new stake in shares of MongoDB during the 4th quarter worth approximately $189,584,000. Marshall Wace LLP acquired a new stake in shares of MongoDB during the 4th quarter worth approximately $110,356,000. Raymond James Financial Inc. acquired a new stake in shares of MongoDB during the 4th quarter worth approximately $90,478,000. D1 Capital Partners L.P. acquired a new stake in shares of MongoDB during the 4th quarter worth approximately $76,129,000. Finally, Amundi boosted its position in shares of MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after acquiring an additional 321,186 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity

In related news, CAO Thomas Bull sold 301 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the transaction, the chief accounting officer now directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Srdjan Tanjga sold 525 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This trade represents a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 34,423 shares of company stock worth $7,148,369 over the last three months. 3.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on MDB. Oppenheimer cut their target price on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Cantor Fitzgerald began coverage on shares of MongoDB in a research report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 target price on the stock. Wells Fargo & Company lowered shares of MongoDB from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $365.00 to $225.00 in a research report on Thursday, March 6th. Scotiabank restated a “sector perform” rating and issued a $160.00 target price (down previously from $240.00) on shares of MongoDB in a research report on Friday, April 25th. Finally, Morgan Stanley cut their target price on shares of MongoDB from $315.00 to $235.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 16th. Eight 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $293.91.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $191.29 on Friday. The stock has a market capitalization of $15.53 billion, a P/E ratio of -69.81 and a beta of 1.49. The company has a 50-day moving average price of $175.00 and a 200-day moving average price of $239.84. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $379.06.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share 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.