Raymond James Financial Inc. Makes New $90.48 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Raymond James Financial Inc. bought a new position in MongoDB, Inc. (NASDAQ:MDB) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 388,629 shares of the company’s stock, valued at approximately $90,478,000. Raymond James Financial Inc. owned about 0.52% of MongoDB at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Hilltop National Bank raised its stake in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after buying an additional 42 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of MongoDB during the third quarter worth approximately $36,000. Continuum Advisory LLC raised its stake in shares of MongoDB by 621.1% during the third quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the last quarter. NCP Inc. bought a new stake in MongoDB in the fourth quarter valued at approximately $35,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in MongoDB in the third quarter valued at approximately $44,000. 89.29% of the stock is owned by institutional investors.

Insider Activity

In other news, CAO Thomas Bull sold 169 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total transaction of $67,183.83. Following 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 disclosure for this sale can be found here. Insiders have sold 49,314 shares of company stock valued at $12,981,833 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages have commented on MDB. Guggenheim raised shares of MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price for the company in a research note on Monday, January 6th. The Goldman Sachs Group lowered their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating for the company in a research note on Thursday. KeyCorp cut shares of MongoDB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. China Renaissance assumed coverage on shares of MongoDB in a report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target for the company. Finally, Bank of America reduced their price target on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a report on Thursday. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Price Performance

Shares of MDB stock opened at $187.65 on Monday. The stock has a market cap of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30. The company has a fifty day moving average price of $261.68 and a two-hundred day moving average price of $274.47. MongoDB, Inc. has a one year low of $181.05 and a one year high of $387.19.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate 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 period in the previous year, the company earned $0.86 earnings per share. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

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.