Avanza Fonder AB Buys New Shares in MongoDB, Inc. $MDB

Avanza Fonder AB bought a new stake in MongoDB, Inc. (NASDAQ:MDB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,469 shares of the company’s stock, valued at approximately $728,000.

A number of other hedge funds and other institutional investors have also modified their holdings of MDB. Jericho Capital Asset Management L.P. acquired a new stake in shares of MongoDB in the first quarter valued at about $161,543,000. Primecap Management Co. CA increased its position in MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company’s stock worth $152,694,000 after buying an additional 780,200 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in MongoDB during the first quarter worth approximately $128,706,000. Vanguard Group Inc. increased its position in MongoDB by 6.6% during the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company’s stock worth $1,369,833,000 after buying an additional 481,023 shares during the last quarter. Finally, Alyeska Investment Group L.P. increased its position in MongoDB by 425.6% during the first quarter. Alyeska Investment Group L.P. now owns 556,144 shares of the company’s stock worth $97,548,000 after buying an additional 450,336 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on MDB shares. Royal Bank Of Canada reissued an “outperform” rating and set a $350.00 price target on shares of MongoDB in a research report on Thursday, September 18th. Stephens started coverage on MongoDB in a research report on Friday, July 18th. They set an “equal weight” rating and a $247.00 price target on the stock. Zacks Research raised MongoDB to a “hold” rating in a research report on Friday, August 8th. Truist Financial boosted their price target on MongoDB from $330.00 to $375.00 and gave the stock a “buy” rating in a research report on Thursday, September 18th. Finally, UBS Group boosted their price target on MongoDB from $310.00 to $330.00 and gave the stock a “neutral” rating in a research report on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $336.83.

MongoDB Price Performance

NASDAQ MDB opened at $323.59 on Tuesday. The business has a fifty day moving average price of $260.02 and a two-hundred day moving average price of $212.85. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The stock has a market capitalization of $26.33 billion, a PE ratio of -330.19 and a beta of 1.49.

Insider Activity

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, September 8th. The stock was sold at an average price of $326.25, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer directly owned 11,598 shares in the company, valued at $3,783,847.50. This represents a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles M. Hazard, Jr. sold 166 shares of the company’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total transaction of $51,460.00. Following the transaction, the director owned 14,493 shares of the company’s stock, valued at $4,492,830. This trade represents a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,730 shares of company stock valued at $16,441,331. Corporate insiders own 3.10% of the company’s stock.

MongoDB 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.