Murphy Middleton Hinkle & Parker Inc. Takes $1.65 Million Position in MongoDB, Inc. $MDB

Murphy Middleton Hinkle & Parker Inc. acquired a new position in MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 3,928 shares of the company’s stock, valued at approximately $1,649,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in MDB. Park Place Capital Corp lifted its stake in MongoDB by 1,857.1% during the fourth quarter. Park Place Capital Corp now owns 137 shares of the company’s stock valued at $57,000 after buying an additional 130 shares in the last quarter. True Wealth Design LLC boosted its holdings in shares of MongoDB by 9.4% in the fourth quarter. True Wealth Design LLC now owns 419 shares of the company’s stock worth $176,000 after buying an additional 36 shares during the period. Wealth Enhancement Advisory Services LLC increased its position in shares of MongoDB by 4.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 27,315 shares of the company’s stock worth $11,923,000 after acquiring an additional 1,068 shares in the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of MongoDB by 37.8% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 1,112 shares of the company’s stock valued at $468,000 after acquiring an additional 305 shares during the period. Finally, Grove Bank & Trust raised its holdings in shares of MongoDB by 81.8% during the fourth quarter. Grove Bank & Trust now owns 100 shares of the company’s stock valued at $42,000 after acquiring an additional 45 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MDB. Truist Financial reduced their price target on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Piper Sandler cut their target price on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. KeyCorp restated a “sector weight” rating on shares of MongoDB in a report on Tuesday, December 2nd. Guggenheim reaffirmed a “buy” rating and issued a $475.00 target price on shares of MongoDB in a research report on Tuesday, March 3rd. Finally, Macquarie Infrastructure lifted their price target on MongoDB from $305.00 to $385.00 and gave the company a “neutral” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $355.24.

MongoDB Stock Performance

MongoDB stock opened at $273.25 on Tuesday. The firm has a market cap of $22.24 billion, a PE ratio of -310.51 and a beta of 1.40. The firm’s 50 day moving average price is $335.58 and its two-hundred day moving average price is $352.07. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. During the same quarter last year, the business posted $1.28 EPS. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. Equities analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the transaction, the director owned 80,462 shares in the company, valued at $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold a total of 19,383 shares of company stock worth $7,910,983 over the last ninety days. 3.10% of the stock is currently owned by company insiders.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.