Plato Investment Management Ltd Purchases 960 Shares of MongoDB, Inc. (NASDAQ:MDB)

Plato Investment Management Ltd grew its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 106.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,862 shares of the company’s stock after buying an additional 960 shares during the period. Plato Investment Management Ltd’s holdings in MongoDB were worth $435,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MDB. Jennison Associates LLC boosted its stake in shares of MongoDB by 23.6% in 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. Assenagon Asset Management S.A. lifted its position in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after acquiring an additional 294,228 shares during the period. Avala Global LP acquired a new stake in shares of MongoDB during the 3rd quarter worth $47,960,000. Eagle Asset Management Inc. acquired a new stake in shares of MongoDB during the 3rd quarter worth $44,380,000. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of MongoDB in the third quarter worth $25,636,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insiders Place Their Bets

In related news, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $266.99, for a total transaction of $313,713.25. Following the transaction, the director now directly owns 17,570 shares of the company’s stock, valued at $4,691,014.30. This represents a 6.27 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 47,314 shares of company stock worth $12,525,863. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of analyst reports. Truist Financial reiterated a “buy” rating and set a $400.00 price objective (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. UBS Group set a $350.00 price target on shares of MongoDB in a research report on Tuesday. Needham & Company LLC boosted their price objective on shares of MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Oppenheimer upped their target price on MongoDB from $350.00 to $400.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 10th. Finally, China Renaissance initiated coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.83.

MongoDB Price Performance

MongoDB stock opened at $254.38 on Wednesday. The firm has a market cap of $18.94 billion, a P/E ratio of -92.84 and a beta of 1.28. The stock’s 50 day moving average is $263.28 and its 200 day moving average is $275.36. MongoDB, Inc. has a one year low of $212.74 and a one year high of $428.91.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the firm posted $0.96 EPS. The company’s quarterly revenue was up 22.3% on a year-over-year basis. Equities analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.