Welch & Forbes LLC Has $5.66 Million Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Welch & Forbes LLC boosted its stake in MongoDB, Inc. (NASDAQ:MDB) by 15.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 24,318 shares of the company’s stock after purchasing an additional 3,309 shares during the quarter. Welch & Forbes LLC’s holdings in MongoDB were worth $5,661,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Hilltop National Bank grew its holdings in MongoDB by 47.2% in the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after purchasing an additional 42 shares during the period. Brooklyn Investment Group acquired a new position in shares of MongoDB during the third quarter valued at about $36,000. Continuum Advisory LLC grew its holdings in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock valued at $40,000 after buying an additional 118 shares during the last quarter. NCP Inc. acquired a new position in shares of MongoDB during the fourth quarter valued at about $35,000. Finally, Wilmington Savings Fund Society FSB acquired a new position in shares of MongoDB during the third quarter valued at about $44,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. The trade was a 0.27 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $355.92, for a total transaction of $355,920.00. Following the completion of the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 50,314 shares of company stock valued at $13,337,753 in the last quarter. Corporate insiders own 3.60% of the company’s stock.

MongoDB Trading Down 2.8 %

Shares of NASDAQ:MDB opened at $187.65 on Friday. The company has a 50 day moving average of $261.68 and a 200 day moving average of $274.23. The stock has a market cap of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30. MongoDB, Inc. has a 12 month low of $181.05 and a 12 month high of $411.50.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same period in the prior year, the firm earned $0.86 EPS. On average, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on MDB shares. Wedbush reduced their price objective on shares of MongoDB from $360.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday. Royal Bank of Canada reduced their price objective on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating for the company in a report on Thursday. The Goldman Sachs Group reduced their price objective on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a report on Thursday. Morgan Stanley reduced their price objective on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Canaccord Genuity Group reduced their price objective on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $319.87.

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.