Empire Life Investments Inc. Sells 266 Shares of MongoDB, Inc. (NASDAQ:MDB)

Empire Life Investments Inc. lessened its position in MongoDB, Inc. (NASDAQ:MDB) by 1.0% in the 3rd quarter, Holdings Channel reports. The firm owned 26,258 shares of the company’s stock after selling 266 shares during the period. Empire Life Investments Inc.’s holdings in MongoDB were worth $7,099,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Janney Montgomery Scott LLC acquired a new position in shares of MongoDB in the third quarter valued at approximately $861,000. Stephens Investment Management Group LLC increased its stake in MongoDB by 22.8% in the 3rd quarter. Stephens Investment Management Group LLC now owns 30,664 shares of the company’s stock valued at $8,290,000 after buying an additional 5,688 shares during the last quarter. US Bancorp DE lifted its position in MongoDB by 9.1% during the 3rd quarter. US Bancorp DE now owns 3,869 shares of the company’s stock worth $1,046,000 after buying an additional 324 shares in the last quarter. First Trust Direct Indexing L.P. boosted its stake in shares of MongoDB by 16.0% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 1,888 shares of the company’s stock worth $510,000 after buying an additional 261 shares during the last quarter. Finally, China Universal Asset Management Co. Ltd. raised its holdings in MongoDB by 112.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 937 shares of the company’s stock worth $253,000 after acquiring an additional 496 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MDB. Stifel Nicolaus upped their target price on shares of MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, August 30th. Mizuho lifted their price objective on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. UBS Group increased their price target on shares of MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a report on Friday, August 30th. Wells Fargo & Company boosted their price objective on MongoDB from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. Finally, DA Davidson upped their price objective on MongoDB from $330.00 to $340.00 and gave the company a “buy” rating in a report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $337.96.

MongoDB Trading Up 0.5 %

NASDAQ MDB opened at $271.85 on Friday. The firm has a market cap of $20.08 billion, a PE ratio of -90.02 and a beta of 1.15. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The stock has a 50-day moving average of $274.71 and a 200-day moving average of $279.23.

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

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the sale, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at approximately $4,117,425. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the transaction, the director now directly owns 1,131,006 shares in the company, valued at $289,820,287.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 21,281 shares of company stock worth $5,848,411 over the last three months. 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.