Assetmark Inc. Grows Stake in MongoDB, Inc. (NASDAQ:MDB)

Assetmark Inc. grew its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 26.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 24,043 shares of the company’s stock after acquiring an additional 5,091 shares during the period. Assetmark Inc.’s holdings in MongoDB were worth $9,830,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of MDB. Jennison Associates LLC increased its position in MongoDB by 3.3% in the fourth quarter. Jennison Associates LLC now owns 3,856,857 shares of the company’s stock worth $1,576,876,000 after buying an additional 122,893 shares during the last quarter. Norges Bank bought a new stake in MongoDB in the 4th quarter valued at about $326,237,000. Northern Trust Corp lifted its holdings in MongoDB by 5.5% during the third quarter. Northern Trust Corp now owns 448,035 shares of the company’s stock valued at $154,957,000 after purchasing an additional 23,270 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in MongoDB by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 249,122 shares of the company’s stock worth $101,854,000 after purchasing an additional 11,439 shares during the period. Finally, Polar Capital Holdings Plc increased its stake in shares of MongoDB by 18.5% in the third quarter. Polar Capital Holdings Plc now owns 248,259 shares of the company’s stock worth $85,863,000 after purchasing an additional 38,747 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

MDB opened at $371.00 on Thursday. The firm has a market cap of $27.02 billion, a PE ratio of -145.68 and a beta of 1.19. The stock has a 50-day moving average price of $358.09 and a 200-day moving average price of $392.95. MongoDB, Inc. has a 1 year low of $267.68 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.40 and a quick ratio of 4.40.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Thursday, March 7th. The company reported ($1.03) earnings per share for the quarter, missing the consensus estimate of ($0.71) by ($0.32). The firm had revenue of $458.00 million for the quarter, compared to the consensus estimate of $431.99 million. MongoDB had a negative net margin of 10.49% and a negative return on equity of 16.22%. Sell-side analysts predict that MongoDB, Inc. will post -2.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on MDB shares. KeyCorp cut their price objective on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Tigress Financial boosted their price objective on MongoDB from $495.00 to $500.00 and gave the company a “buy” rating in a research note on Thursday, March 28th. Loop Capital assumed coverage on MongoDB in a research note on Tuesday, April 23rd. They issued a “buy” rating and a $415.00 target price for the company. Citigroup boosted their price target on shares of MongoDB from $515.00 to $550.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. Finally, Truist Financial lifted their price objective on MongoDB from $440.00 to $500.00 and gave the company a “buy” rating in a research note on Tuesday, February 20th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and twenty have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $444.57.

Insider Activity at MongoDB

In other news, CEO Dev Ittycheria sold 17,160 shares of MongoDB stock in a transaction that occurred on Tuesday, April 2nd. The shares were sold at an average price of $348.11, for a total value of $5,973,567.60. Following the completion of the sale, the chief executive officer now directly owns 226,073 shares in the company, valued at $78,698,272.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dev Ittycheria sold 17,160 shares of the company’s stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $348.11, for a total transaction of $5,973,567.60. Following the completion of the sale, the chief executive officer now owns 226,073 shares in the company, valued at $78,698,272.03. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 170 shares of the firm’s stock in a transaction dated Tuesday, April 2nd. The stock was sold at an average price of $348.12, for a total value of $59,180.40. Following the completion of the transaction, 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. Insiders have sold 46,802 shares of company stock valued at $16,514,071 over the last ninety days. 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.