M&T Bank Corp Has $823,000 Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

M&T Bank Corp lifted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 9.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,043 shares of the company’s stock after purchasing an additional 251 shares during the period. M&T Bank Corp’s holdings in MongoDB were worth $823,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC raised its holdings in shares of 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 purchasing an additional 592,038 shares during the period. Thrivent Financial for Lutherans increased its position in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in MongoDB during the 2nd quarter worth approximately $52,131,000. Avala Global LP acquired a new position in MongoDB during the 3rd quarter worth approximately $47,960,000. Finally, Renaissance Technologies LLC boosted its holdings in MongoDB by 828.9% in the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after acquiring an additional 163,300 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Transactions at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the transaction, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. This trade represents a 6.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Cedric Pech sold 302 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $77,387.50. Following the sale, the executive now directly owns 33,440 shares in the company, valued at $8,569,000. The trade was a 0.90 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 26,600 shares of company stock worth $7,611,849. 3.60% of the stock is owned by company insiders.

MongoDB Stock Down 0.6 %

MongoDB stock opened at $265.63 on Tuesday. The firm has a 50 day moving average price of $293.17 and a 200-day moving average price of $267.61. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The company has a market capitalization of $19.62 billion, a P/E ratio of -96.95 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. 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 company earned $0.96 earnings per share. MongoDB’s revenue was up 22.3% compared to the same quarter last year. Equities analysts expect that MongoDB, Inc. will post -2.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on MDB. Truist Financial restated a “buy” rating and set a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Wells Fargo & Company upped their price objective on shares of MongoDB from $350.00 to $425.00 and gave the stock an “overweight” rating in a report on Tuesday, December 10th. Royal Bank of Canada raised their price objective on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Mizuho boosted their target price on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Finally, Canaccord Genuity Group upped their target price on shares of MongoDB from $325.00 to $385.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $365.63.

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.