Palacios Wealth Management LLC Takes $598,000 Position in MongoDB, Inc. (NASDAQ:MDB)

Palacios Wealth Management LLC bought a new stake in MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 2,415 shares of the company’s stock, valued at approximately $598,000.

A number of other institutional investors have also modified their holdings of the stock. Nisa Investment Advisors LLC raised its stake in shares of MongoDB by 3.8% in the 3rd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the company’s stock valued at $295,000 after purchasing an additional 40 shares in the last quarter. Hilltop National Bank grew its position in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock valued at $30,000 after buying an additional 42 shares during the last quarter. Avestar Capital LLC grew its position in shares of MongoDB by 2.0% during the 4th quarter. Avestar Capital LLC now owns 2,165 shares of the company’s stock valued at $504,000 after buying an additional 42 shares during the last quarter. Tanager Wealth Management LLP grew its position in shares of MongoDB by 4.7% during the 3rd quarter. Tanager Wealth Management LLP now owns 957 shares of the company’s stock valued at $259,000 after buying an additional 43 shares during the last quarter. Finally, Rakuten Securities Inc. grew its position in shares of MongoDB by 16.5% during the 3rd quarter. Rakuten Securities Inc. now owns 332 shares of the company’s stock valued at $90,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Up 0.2 %

Shares of NASDAQ:MDB opened at $292.97 on Friday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $488.00. The firm has a market cap of $21.82 billion, a P/E ratio of -106.92 and a beta of 1.28. The company has a 50 day moving average of $264.56 and a 200-day moving average of $271.42.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million during the quarter, compared to analyst estimates of $497.39 million. During the same period in the prior year, the business earned $0.96 earnings per share. The business’s quarterly revenue was up 22.3% on a year-over-year basis. Equities research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of recent research reports. The Goldman Sachs Group boosted their price objective on shares of MongoDB from $340.00 to $390.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Citigroup boosted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research report on Monday, December 16th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a research report on Wednesday, December 11th. Robert W. Baird boosted their price objective on shares of MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Finally, Mizuho boosted their price objective on shares of MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $361.00.

Insider Activity at MongoDB

In related news, insider Cedric Pech sold 287 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $281.62, for a total transaction of $281,620.00. Following the completion of the sale, the director now owns 1,112,006 shares of the company’s stock, valued at approximately $313,163,129.72. This trade represents a 0.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,094 shares of company stock valued at $11,705,293 over the last ninety days. Insiders own 3.60% of the company’s stock.

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.