Avestar Capital LLC Acquires 150 Shares of MongoDB, Inc. (NASDAQ:MDB)

Avestar Capital LLC grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.6% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,123 shares of the company’s stock after buying an additional 150 shares during the period. Avestar Capital LLC’s holdings in MongoDB were worth $574,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Jennison Associates LLC increased its position in shares of MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the period. Swedbank AB raised its position in shares of MongoDB by 156.3% in the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after acquiring an additional 400,705 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after purchasing an additional 388,979 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of MongoDB during the second quarter valued at approximately $52,131,000. Finally, Renaissance Technologies LLC lifted its position in MongoDB by 828.9% during the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after buying an additional 163,300 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on MDB shares. Morgan Stanley raised their target price on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. DA Davidson increased their target price on MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Barclays upped their price target on shares of MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Bank of America raised their price objective on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company upped their target price on shares of MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $340.29.

Insiders Place Their Bets

In other MongoDB news, CRO Cedric Pech sold 302 shares of MongoDB stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the transaction, the executive now directly owns 33,440 shares of the company’s stock, valued at $8,569,000. This trade represents a 0.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 1,319 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $285.92, for a total transaction of $377,128.48. Following the completion of the transaction, the director now directly owns 87,744 shares of the company’s stock, valued at approximately $25,087,764.48. The trade was a 1.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,600 shares of company stock worth $7,034,249. Corporate insiders own 3.60% of the company’s stock.

MongoDB Price Performance

NASDAQ:MDB opened at $335.40 on Wednesday. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The business has a fifty day moving average price of $280.95 and a 200-day moving average price of $271.28. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. The business had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The business’s quarterly revenue was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.63) earnings per share. Analysts anticipate that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

About MongoDB

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.