CIBC Asset Management Inc Grows Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

CIBC Asset Management Inc increased its position in MongoDB, Inc. (NASDAQ:MDB) by 4.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 14,717 shares of the company’s stock after buying an additional 653 shares during the period. CIBC Asset Management Inc’s holdings in MongoDB were worth $3,979,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. MFA Wealth Advisors LLC bought a new position in shares of MongoDB in the second quarter worth about $25,000. J.Safra Asset Management Corp lifted its holdings in MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares in the last quarter. Quarry LP boosted its stake in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock worth $33,000 after purchasing an additional 129 shares during the period. Hantz Financial Services Inc. purchased a new stake in MongoDB during the 2nd quarter valued at approximately $35,000. Finally, GAMMA Investing LLC grew its holdings in MongoDB by 178.8% during the 3rd quarter. GAMMA Investing LLC now owns 145 shares of the company’s stock valued at $39,000 after buying an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Activity at MongoDB

In related news, CRO Cedric Pech sold 302 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $77,387.50. Following the completion of the sale, the executive now directly owns 33,440 shares in the company, valued at $8,569,000. The trade was a 0.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $282.89, for a total transaction of $282,890.00. Following the transaction, the chief accounting officer now owns 16,222 shares in the company, valued at approximately $4,589,041.58. The trade was a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 24,281 shares of company stock worth $6,657,121. Company insiders own 3.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MDB shares. Wedbush raised shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. UBS Group raised their price objective on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research report on Friday, August 30th. Barclays boosted their target price on MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research report on Friday. Needham & Company LLC raised their price target on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a report on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective on shares of MongoDB in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $336.54.

MongoDB Stock Performance

MDB stock opened at $284.43 on Tuesday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of -94.18 and a beta of 1.15. The business’s fifty day simple moving average is $278.10 and its two-hundred day simple moving average is $273.60. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

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

MongoDB Company 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.