Migdal Insurance & Financial Holdings Ltd. Increases Holdings in MongoDB, Inc. (NASDAQ:MDB)

Migdal Insurance & Financial Holdings Ltd. boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 101.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,500 shares of the company’s stock after purchasing an additional 44,000 shares during the period. Migdal Insurance & Financial Holdings Ltd. owned about 0.11% of MongoDB worth $15,348,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of MDB. HighTower Advisors LLC increased its holdings in MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock valued at $4,371,000 after purchasing an additional 372 shares during the period. Sequoia Financial Advisors LLC grew its holdings in shares of MongoDB by 18.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,328 shares of the company’s stock worth $309,000 after acquiring an additional 211 shares during the period. Natixis Advisors LLC grew its holdings in shares of MongoDB by 49.7% during the 4th quarter. Natixis Advisors LLC now owns 27,397 shares of the company’s stock worth $6,378,000 after acquiring an additional 9,093 shares during the period. Primecap Management Co. CA grew its holdings in shares of MongoDB by 28.6% during the 4th quarter. Primecap Management Co. CA now owns 90,350 shares of the company’s stock worth $21,034,000 after acquiring an additional 20,100 shares during the period. Finally, Xponance Inc. grew its holdings in shares of MongoDB by 9.3% during the 4th quarter. Xponance Inc. now owns 13,677 shares of the company’s stock worth $3,184,000 after acquiring an additional 1,162 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of analyst reports. Scotiabank boosted their price target on MongoDB from $160.00 to $230.00 and gave the stock a “sector perform” rating in a research report on Thursday, June 5th. Stifel Nicolaus dropped their price target on MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, April 11th. William Blair reissued an “outperform” rating on shares of MongoDB in a research report on Thursday, June 26th. Daiwa America raised MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Finally, Mizuho lowered their price objective on MongoDB from $250.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating, twenty-six have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $281.35.

MongoDB Price Performance

Shares of NASDAQ:MDB traded up $0.35 during trading on Friday, reaching $218.88. 71,834 shares of the company were exchanged, compared to its average volume of 1,975,821. The firm has a market capitalization of $17.88 billion, a PE ratio of -192.47 and a beta of 1.41. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The business’s fifty day simple moving average is $201.86 and its 200-day simple moving average is $213.26.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the previous year, the firm posted $0.51 earnings per share. MongoDB’s revenue for the quarter was up 21.8% compared to the same quarter last year. On average, sell-side analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Activity at MongoDB

In other news, CEO Dev Ittycheria sold 3,747 shares of the stock in a transaction that occurred on Wednesday, July 2nd. The shares were sold at an average price of $206.05, for a total value of $772,069.35. Following the completion of the sale, the chief executive officer owned 253,227 shares of the company’s stock, valued at $52,177,423.35. This represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 820 shares of the stock in a transaction that occurred on Wednesday, June 25th. The stock was sold at an average price of $210.84, for a total transaction of $172,888.80. Following the sale, the director owned 1,106,186 shares in the company, valued at approximately $233,228,256.24. This trade represents a 0.07% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 32,746 shares of company stock valued at $7,500,196. Corporate insiders own 3.10% of the company’s stock.

MongoDB Company Profile

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.