Range Financial Group LLC Acquires Shares of 3,131 MongoDB, Inc. $MDB

Range Financial Group LLC acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, Holdings Channel.com reports. The fund acquired 3,131 shares of the company’s stock, valued at approximately $1,314,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDB. Vanguard Group Inc. raised its holdings in shares of MongoDB by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after purchasing an additional 431,382 shares during the last quarter. ValueAct Holdings L.P. boosted its holdings in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after purchasing an additional 1,427,700 shares during the last quarter. State Street Corp boosted its holdings in MongoDB by 3.7% in the third quarter. State Street Corp now owns 1,756,628 shares of the company’s stock valued at $545,222,000 after purchasing an additional 63,434 shares during the last quarter. Amundi grew its position in MongoDB by 61.3% during the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after purchasing an additional 563,995 shares during the period. Finally, Jericho Capital Asset Management L.P. grew its position in MongoDB by 162.1% during the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after purchasing an additional 852,540 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on MDB shares. Canaccord Genuity Group decreased their price objective on MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Morgan Stanley raised their target price on MongoDB from $400.00 to $440.00 and gave the stock an “overweight” rating in a report on Tuesday, December 2nd. Citigroup reduced their price target on MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Royal Bank Of Canada decreased their price target on MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Finally, Oppenheimer lowered their price objective on MongoDB from $425.00 to $375.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $355.24.

MongoDB Stock Down 0.1%

NASDAQ:MDB opened at $235.21 on Tuesday. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $444.72. The stock’s 50-day moving average price is $320.09 and its 200-day moving average price is $349.01. The stock has a market capitalization of $18.90 billion, a PE ratio of -267.28 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The company had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.MongoDB’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. Sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 1,190 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the transaction, the director directly owned 80,462 shares of the company’s stock, valued at $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 19,383 shares of company stock valued at $7,910,983 in the last three months. 3.10% of the stock is owned by insiders.

MongoDB Company 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.