Comerica Bank Acquires 11,476 Shares of MongoDB, Inc. (NASDAQ:MDB)

Comerica Bank increased its position in MongoDB, Inc. (NASDAQ:MDB) by 103.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,575 shares of the company’s stock after purchasing an additional 11,476 shares during the period. Comerica Bank’s holdings in MongoDB were worth $8,096,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Transcendent Capital Group LLC purchased a new stake in shares of MongoDB during the 4th quarter valued at $25,000. Blue Trust Inc. increased its holdings in MongoDB by 937.5% in the 4th quarter. Blue Trust Inc. now owns 83 shares of the company’s stock worth $34,000 after acquiring an additional 75 shares during the last quarter. YHB Investment Advisors Inc. purchased a new stake in MongoDB in the 1st quarter worth about $41,000. Sunbelt Securities Inc. increased its holdings in MongoDB by 155.1% in the 1st quarter. Sunbelt Securities Inc. now owns 125 shares of the company’s stock worth $45,000 after acquiring an additional 76 shares during the last quarter. Finally, GAMMA Investing LLC purchased a new stake in MongoDB in the 4th quarter worth about $50,000. 89.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Tigress Financial decreased their price objective on MongoDB from $500.00 to $400.00 and set a “buy” rating for the company in a report on Thursday, July 11th. Truist Financial reduced their target price on MongoDB from $475.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 31st. Piper Sandler reduced their target price on MongoDB from $350.00 to $300.00 and set an “overweight” rating for the company in a report on Friday, July 12th. Mizuho reduced their target price on MongoDB from $380.00 to $250.00 and set a “neutral” rating for the company in a report on Friday, May 31st. Finally, Oppenheimer reduced their target price on MongoDB from $480.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $355.74.

MongoDB Stock Down 3.3 %

Shares of MongoDB stock traded down $7.78 during midday trading on Friday, reaching $231.55. 828,098 shares of the company’s stock traded hands, compared to its average volume of 1,522,191. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93. The stock has a 50 day moving average of $252.04 and a 200-day moving average of $342.28. MongoDB, Inc. has a 12 month low of $214.74 and a 12 month high of $509.62.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting analysts’ consensus estimates of ($0.80). The company had revenue of $450.56 million during the quarter, compared to the consensus estimate of $438.44 million. MongoDB had a negative return on equity of 14.88% and a negative net margin of 11.50%. Analysts forecast that MongoDB, Inc. will post -2.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $224.38, for a total value of $263,422.12. Following the completion of the transaction, the director now owns 13,011 shares in the company, valued at $2,919,408.18. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $224.38, for a total value of $263,422.12. Following the sale, the director now directly owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $252.23, for a total value of $1,261,150.00. Following the completion of the sale, the chief financial officer now directly owns 81,942 shares in the company, valued at $20,668,230.66. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 28,179 shares of company stock worth $6,906,989. 3.60% of the stock is owned by corporate insiders.

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.