New England Research & Management Inc. Purchases 1,755 Shares of MongoDB, Inc. (NASDAQ:MDB)

New England Research & Management Inc. boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 170.4% during the first quarter, Holdings Channel reports. The firm owned 2,785 shares of the company’s stock after purchasing an additional 1,755 shares during the quarter. New England Research & Management Inc.’s holdings in MongoDB were worth $999,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in MDB. Norges Bank purchased a new stake in MongoDB in the fourth quarter worth approximately $326,237,000. Axiom Investors LLC DE purchased a new stake in MongoDB in the fourth quarter worth approximately $153,990,000. Clearbridge Investments LLC raised its position in MongoDB by 10,827.8% in the fourth quarter. Clearbridge Investments LLC now owns 212,983 shares of the company’s stock worth $87,078,000 after acquiring an additional 211,034 shares during the period. First Trust Advisors LP raised its position in MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after acquiring an additional 204,284 shares during the period. Finally, Vanguard Group Inc. raised its position in MongoDB by 2.9% in the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after acquiring an additional 194,148 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity

In related news, CAO Thomas Bull sold 170 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the transaction, the chief accounting officer now owns 17,360 shares in the company, valued at approximately $6,043,363.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other MongoDB news, CFO Michael Lawrence Gordon sold 9,316 shares of the business’s stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $3,243,085.92. Following the sale, the chief financial officer now owns 83,511 shares of the company’s stock, valued at approximately $29,071,849.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 170 shares of the company’s stock in a transaction on Tuesday, April 2nd. The shares were sold at an average price of $348.12, for a total transaction of $59,180.40. Following the completion of the sale, the chief accounting officer now directly owns 17,360 shares in the company, valued at $6,043,363.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 60,976 shares of company stock worth $19,770,973. 3.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MDB has been the topic of several recent research reports. Redburn Atlantic reiterated a “sell” rating and issued a $295.00 price target (down from $410.00) on shares of MongoDB in a research report on Tuesday, March 19th. Citigroup decreased their price target on shares of MongoDB from $480.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, June 3rd. JMP Securities decreased their price target on shares of MongoDB from $440.00 to $380.00 and set a “market outperform” rating on the stock in a research report on Friday, May 31st. Canaccord Genuity Group decreased their price target on shares of MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $290.00 price target on shares of MongoDB in a research report on Thursday, June 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $361.30.

MongoDB Trading Up 2.4 %

Shares of MDB opened at $249.96 on Friday. MongoDB, Inc. has a 1-year low of $214.74 and a 1-year high of $509.62. The company has a 50-day moving average of $304.59 and a 200 day moving average of $366.44. The firm has a market capitalization of $18.33 billion, a price-to-earnings ratio of -88.95 and a beta of 1.13. The company has a debt-to-equity ratio of 0.90, a current ratio of 4.93 and a quick ratio of 4.93.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, May 30th. The company reported ($0.80) EPS for the quarter, meeting the consensus estimate of ($0.80). MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. The business had revenue of $450.56 million during the quarter, compared to analyst estimates of $438.44 million. On average, research analysts expect that MongoDB, Inc. will post -2.67 EPS for the current 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.