State of Alaska Department of Revenue Grows Holdings in MongoDB, Inc. (NASDAQ:MDB)

State of Alaska Department of Revenue increased its position in MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 48.0% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,947 shares of the company’s stock after acquiring an additional 2,252 shares during the quarter. State of Alaska Department of Revenue’s holdings in MongoDB were worth $1,802,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDB. Bank of New Hampshire purchased a new stake in MongoDB during the 1st quarter valued at approximately $25,000. Aaron Wealth Advisors LLC purchased a new stake in MongoDB during the 1st quarter valued at approximately $43,000. AdvisorNet Financial Inc grew its holdings in MongoDB by 2,666.7% during the 2nd quarter. AdvisorNet Financial Inc now owns 166 shares of the company’s stock valued at $43,000 after buying an additional 160 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in MongoDB during the 1st quarter valued at approximately $44,000. Finally, Tcwp LLC purchased a new stake in MongoDB during the 1st quarter valued at approximately $52,000. 89.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Archana Agrawal sold 663 shares of MongoDB stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $345.55, for a total value of $229,099.65. Following the transaction, the director now owns 2,080 shares in the company, valued at $718,744. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Dwight A. Merriman sold 629 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $292.64, for a total transaction of $184,070.56. Following the sale, the director now owns 1,322,755 shares in the company, valued at $387,091,023.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Archana Agrawal sold 663 shares of the business’s stock in a transaction dated Monday, August 29th. The stock was sold at an average price of $345.55, for a total value of $229,099.65. Following the sale, the director now owns 2,080 shares in the company, valued at approximately $718,744. The disclosure for this sale can be found here. Insiders have sold 69,789 shares of company stock worth $18,925,825 over the last quarter. Insiders own 5.70% of the company’s stock.

A number of equities research analysts have issued reports on MDB shares. Canaccord Genuity Group increased their price objective on shares of MongoDB from $300.00 to $360.00 and gave the company a “buy” rating in a report on Thursday, September 1st. Credit Suisse Group cut their target price on shares of MongoDB from $500.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, September 1st. Oppenheimer cut their target price on shares of MongoDB from $490.00 to $400.00 and set an “outperform” rating for the company in a report on Thursday, June 2nd. Piper Sandler cut their target price on shares of MongoDB from $375.00 to $350.00 and set an “overweight” rating for the company in a report on Thursday, September 1st. Finally, Barclays cut their target price on shares of MongoDB from $438.00 to $360.00 and set an “overweight” rating for the company in a report on Thursday, September 1st. One investment analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $386.83.

MongoDB Stock Performance

MDB stock opened at $194.73 on Friday. The company has a debt-to-equity ratio of 1.70, a current ratio of 4.02 and a quick ratio of 4.02. The business has a 50-day moving average price of $299.65 and a 200 day moving average price of $314.86. The company has a market capitalization of $13.38 billion, a P/E ratio of -36.33 and a beta of 0.95. MongoDB, Inc. has a 1-year low of $189.24 and a 1-year high of $590.00.

MongoDB (NASDAQ:MDB – Get Rating) last posted its earnings results on Wednesday, August 31st. The company reported ($1.69) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.52) by ($0.17). MongoDB had a negative net margin of 33.43% and a negative return on equity of 52.05%. The company had revenue of $303.66 million during the quarter, compared to analysts’ expectations of $282.31 million. During the same quarter last year, the firm earned ($1.15) EPS. MongoDB’s revenue for the quarter was up 52.8% on a year-over-year basis. As a group, equities research analysts forecast that MongoDB, Inc. will post -5.36 EPS for the current fiscal year.

MongoDB Company Profile

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.