Prosperity Wealth Management Inc. Increases Stake in MongoDB, Inc. (NASDAQ:MDB)

Prosperity Wealth Management Inc. boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 43.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,139 shares of the company’s stock after acquiring an additional 644 shares during the quarter. Prosperity Wealth Management Inc.’s holdings in MongoDB were worth $498,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Jennison Associates LLC raised its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares in the last quarter. Geode Capital Management LLC increased its position in shares of MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after buying an additional 34,814 shares in the last quarter. Amundi increased its position in shares of MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after buying an additional 321,186 shares in the last quarter. Westfield Capital Management Co. LP increased its position in shares of MongoDB by 1.5% in the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after buying an additional 7,526 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $90,478,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares of the company’s stock, valued at $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $270.63, for a total value of $811,890.00. Following the completion of the sale, the director now directly owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,314 shares of company stock worth $12,981,833. 3.60% of the stock is currently owned by insiders.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $195.70 on Wednesday. MongoDB, Inc. has a 1-year low of $173.13 and a 1-year high of $387.19. The company has a market cap of $14.57 billion, a price-to-earnings ratio of -71.42 and a beta of 1.30. The stock’s 50-day moving average is $259.87 and its two-hundred day moving average is $273.64.

MongoDB (NASDAQ:MDB) last released 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). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analysts’ expectations of $519.65 million. During the same quarter in the previous year, the company posted $0.86 EPS. Equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently commented on MDB. Loop Capital dropped their price target on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Wells Fargo & Company cut MongoDB from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $365.00 to $225.00 in a research report on Thursday, March 6th. Citigroup reiterated a “buy” rating on shares of MongoDB in a research report on Thursday, March 6th. Barclays lowered their price objective on MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group lowered their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.87.

About MongoDB

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.