Allstate Corp Purchases Shares of 2,191 MongoDB, Inc. (NASDAQ:MDB)

Allstate Corp acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, Holdings Channel.com reports. The fund acquired 2,191 shares of the company’s stock, valued at approximately $510,000.

Several other hedge funds also recently modified their holdings of MDB. The Manufacturers Life Insurance Company increased its holdings in MongoDB by 3.8% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 28,101 shares of the company’s stock valued at $7,596,000 after purchasing an additional 1,022 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of MongoDB by 1.6% during the third quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock worth $1,203,000 after purchasing an additional 72 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of MongoDB by 23.3% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,143 shares of the company’s stock valued at $4,094,000 after buying an additional 2,858 shares in the last quarter. Captrust Financial Advisors raised its holdings in shares of MongoDB by 19.0% in the third quarter. Captrust Financial Advisors now owns 1,445 shares of the company’s stock valued at $391,000 after buying an additional 231 shares during the last quarter. Finally, Caisse DE Depot ET Placement DU Quebec lifted its position in MongoDB by 8.7% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 14,900 shares of the company’s stock worth $4,028,000 after buying an additional 1,189 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Stock Performance

NASDAQ MDB opened at $176.61 on Wednesday. MongoDB, Inc. has a 52-week low of $170.66 and a 52-week high of $387.19. The business has a 50 day simple moving average of $242.38 and a 200 day simple moving average of $264.31. The stock has a market cap of $14.34 billion, a price-to-earnings ratio of -64.46 and a beta of 1.30.

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

Wall Street Analyst Weigh In

MDB has been the subject of several research reports. Oppenheimer lowered their price objective on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Wells Fargo & Company cut shares of MongoDB from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Stifel Nicolaus decreased their price objective on MongoDB from $425.00 to $340.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Daiwa Capital Markets started coverage on MongoDB in a research report on Tuesday. They set an “outperform” rating and a $202.00 target price for the company. Finally, Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 price target on the stock in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

Insider Activity

In other news, insider Cedric Pech sold 287 shares of the business’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 sale, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the transaction, the director now owns 1,109,006 shares of the company’s stock, valued at $300,130,293.78. The trade was a 0.27 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock worth $11,328,869 over the last three months. Corporate 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.