CIBC Asset Management Inc Purchases 35,256 Shares of MongoDB, Inc. (NASDAQ:MDB)

CIBC Asset Management Inc boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 239.6% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 49,973 shares of the company’s stock after acquiring an additional 35,256 shares during the period. CIBC Asset Management Inc’s holdings in MongoDB were worth $11,634,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Jennison Associates LLC lifted its stake in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after purchasing an additional 7,526 shares during the last quarter. Holocene Advisors LP lifted its stake in shares of MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after purchasing an additional 66,730 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of MongoDB by 11,057.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after purchasing an additional 294,228 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. Citigroup raised their price objective on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday, December 16th. Morgan Stanley increased their price target on MongoDB from $340.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Robert W. Baird increased their price target on MongoDB from $380.00 to $390.00 and gave the stock an “outperform” rating in a report on Tuesday, December 10th. China Renaissance initiated coverage on MongoDB in a report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target on the stock. Finally, Truist Financial reiterated a “buy” rating and issued a $400.00 price target (up from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $361.00.

MongoDB Stock Performance

Shares of MDB stock opened at $298.69 on Wednesday. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $459.78. The firm has a market capitalization of $22.24 billion, a price-to-earnings ratio of -109.01 and a beta of 1.28. The stock’s 50-day simple moving average is $261.45 and its 200-day simple moving average is $272.51.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.48. The company had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. MongoDB’s revenue was up 22.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. As a group, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the transaction, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. This represents a 6.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,094 shares of company stock valued at $11,705,293 in the last ninety days. Company insiders own 3.60% 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.