Pier Capital LLC Boosts Position in MongoDB, Inc. (NASDAQ:MDB)

Pier Capital LLC boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 112.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,064 shares of the company’s stock after purchasing an additional 1,622 shares during the quarter. Pier Capital LLC’s holdings in MongoDB were worth $766,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in MDB. Transcendent Capital Group LLC purchased a new stake in shares of MongoDB in the fourth quarter valued at $25,000. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB in the second quarter valued at $25,000. J.Safra Asset Management Corp lifted its position in shares of MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after acquiring an additional 116 shares in the last quarter. Hantz Financial Services Inc. purchased a new stake in shares of MongoDB in the second quarter valued at $35,000. Finally, YHB Investment Advisors Inc. purchased a new stake in shares of MongoDB in the first quarter valued at $41,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Trading Up 1.8 %

Shares of MDB opened at $296.69 on Thursday. The company has a market capitalization of $21.92 billion, a P/E ratio of -105.58 and a beta of 1.15. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. The stock has a 50-day moving average price of $254.78 and a 200 day moving average price of $305.40.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. The firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.63) earnings per share. Sell-side analysts forecast that MongoDB, Inc. will post -2.46 EPS for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Monday, June 17th. The stock was sold at an average price of $224.38, for a total value of $263,422.12. Following the completion of the transaction, the director now owns 13,011 shares of the company’s stock, valued at $2,919,408.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the transaction, the director now owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction that occurred on Monday, June 17th. The stock was sold at an average price of $224.38, for a total value of $263,422.12. Following the transaction, the director now directly owns 13,011 shares in the company, valued at approximately $2,919,408.18. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 33,179 shares of company stock valued at $8,346,169. Insiders own 3.60% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Scotiabank upped their target price on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research note on Friday, August 30th. Citigroup upped their target price on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Sanford C. Bernstein upped their target price on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Guggenheim upgraded MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, June 3rd. Finally, Canaccord Genuity Group dropped their target price on MongoDB from $435.00 to $325.00 and set a “buy” rating for the company in a research note on Friday, May 31st. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $337.56.

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.