Mongodb Inc (NASDAQ:MDB)’s share price hit a new 52-week high and low during mid-day trading on Thursday . The stock traded as low as $59.54 and last traded at $58.23, with a volume of 24228 shares trading hands. The stock had previously closed at $57.75.
MDB has been the subject of several analyst reports. Zacks Investment Research downgraded shares of Mongodb from a “hold” rating to a “sell” rating in a report on Wednesday, February 14th. Needham & Company LLC raised shares of Mongodb from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a report on Wednesday, February 14th. They noted that the move was a valuation call. Barclays lifted their price target on shares of Mongodb from $38.00 to $45.00 and gave the company an “overweight” rating in a report on Wednesday, March 14th. Canaccord Genuity reissued a “buy” rating and set a $45.00 price target (up from $35.00) on shares of Mongodb in a report on Wednesday, March 14th. Finally, Stifel Nicolaus lifted their price target on shares of Mongodb from $34.00 to $43.00 and gave the company a “buy” rating in a report on Wednesday, March 14th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Mongodb has a consensus rating of “Buy” and an average target price of $46.18.
The company has a market capitalization of $2.72 billion and a price-to-earnings ratio of -33.68.
In related news, major shareholder Whale Rock Capital Management bought 450,000 shares of the company’s stock in a transaction on Thursday, May 3rd. The stock was bought at an average cost of $38.35 per share, with a total value of $17,257,500.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 40.04% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Brighton Jones LLC raised its stake in shares of Mongodb by 43.3% during the first quarter. Brighton Jones LLC now owns 10,313 shares of the company’s stock worth $448,000 after buying an additional 3,116 shares during the last quarter. UBS Group AG raised its stake in shares of Mongodb by 267.4% during the first quarter. UBS Group AG now owns 5,052 shares of the company’s stock worth $219,000 after buying an additional 3,677 shares during the last quarter. Northern Trust Corp raised its stake in shares of Mongodb by 26.0% during the first quarter. Northern Trust Corp now owns 19,672 shares of the company’s stock worth $854,000 after buying an additional 4,060 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Mongodb during the first quarter worth approximately $177,000. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of Mongodb during the first quarter worth approximately $217,000. 26.93% of the stock is owned by institutional investors and hedge funds.
Mongodb Company Profile
MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted 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.
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