Bedell Frazier Investment Counselling LLC Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Bedell Frazier Investment Counselling LLC bought a new stake in MongoDB, Inc. (NASDAQ:MDB) in the fourth quarter, HoldingsChannel reports. The fund bought 896 shares of the company’s stock, valued at approximately $209,000.

Several other institutional investors and hedge funds have also modified their holdings of MDB. Norges Bank acquired a new position in shares of MongoDB during the fourth quarter worth about $189,584,000. Raymond James Financial Inc. acquired a new position in MongoDB during the fourth quarter worth $90,478,000. Amundi grew its position in 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 purchasing an additional 321,186 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in MongoDB by 11,057.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after buying an additional 294,228 shares during the last quarter. Finally, Avala Global LP bought a new stake in MongoDB during the 3rd quarter worth about $47,960,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at approximately $3,487,706.91. This trade represents a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,139 shares of company stock worth $11,328,869 in the last ninety days. 3.60% of the stock is owned by insiders.

MongoDB Trading Down 5.6 %

Shares of NASDAQ:MDB opened at $178.03 on Monday. The firm has a 50 day moving average of $245.56 and a 200-day moving average of $265.95. MongoDB, Inc. has a 12 month low of $173.13 and a 12 month high of $387.19. The stock has a market capitalization of $14.45 billion, a PE ratio of -64.97 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the firm earned $0.86 earnings per share. On average, research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MDB. Loop Capital decreased their price objective on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a report on Monday, March 3rd. Canaccord Genuity Group dropped their price objective on MongoDB from $385.00 to $320.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Morgan Stanley lowered their price objective on shares of MongoDB from $350.00 to $315.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. JMP Securities restated a “market outperform” rating and issued a $380.00 price objective on shares of MongoDB in a research note on Wednesday, December 11th. Finally, Guggenheim raised MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a report on Monday, January 6th. Seven analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $320.70.

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.