T. Rowe Price Associates, Inc. recently announced the acquisition of new stake in MongoDB Inc. (NASDAQ:MDB). The institutional investor has increased its shareholding in the Technology company by 13.41% to 7.59 million shares with purchase of 0.9 million shares. This fresh investment now brings its stake to 10.84% valued currently at $1.82 billion. In addition, The Vanguard Group, Inc. raised its holdings by 0.16 million to 6.15 million shares. And Fidelity Management & Research Co has lifted its position by 15.07% or 0.59 million shares – to 4.48 million shares.
With over 1.6 million MongoDB Inc. (MDB) shares trading Monday and a closing price of $283.29 on the day, the dollar volume was approximately $452.84 million. The shares have shown a positive half year performance of 72.96% and its price on 05/22/23 gained nearly 2.95%. Currently, there are 69.53M common shares owned by the public and among those 66.20M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 25 analysts who have offered their price forecasts for MDB have a consensus price objective of $252.70. The analysts have set the share’s price value over the next 12 months at a high of $363.00 and a low of $180.00. The average price target is -10.27% below its recent price level and a downside to the estimated low will see the stock lose -57.38% over that period. But an upside of 21.96% will see the stock hit the forecast high price target while median target price for the stock is $250.00.
Insiders at the company have transacted a total of 245 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 55 of these insider trades were purchases, accounting for 679,543 shares. Insider sales of the common stock occurred on 190 occasions, with total insider shares sold totaling 731,077 shares.
The top 3 mutual fund holders in MongoDB Inc. are T Rowe Price New Horizons Fund, American Funds Growth Fund of Ame, and Vanguard Total Stock Market ETF. T Rowe Price New Horizons Fund owns 2.37 million shares of the company’s stock, all valued at over $568.37 million. The company bought an additional 2.37 million shares recently to bring their total holdings to about 3.38% of the shares outstanding. Vanguard Total Stock Market ETF bought 28822.0 shares to bring its total holdings to over 2.04 million shares at a value of $488.64 million. Vanguard Total Stock Market ETF now owns shares totaling to 2.91% of the shares outstanding.
The company’s stock has a 5-day price change of 2.58% and 34.51% over the past three months. MDB shares are trading 43.92% year to date (YTD), with the 12-month market performance up to 15.47% higher. It has a 12-month low price of $135.15 and touched a high of $390.84 over the same period. MDB has an average intraday trading volume of 1.71 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 13.66%, 22.77%, and 28.41% respectively.
Institutional ownership of MongoDB Inc. (NASDAQ: MDB) shares accounts for 92.40% of the company’s 69.53M shares outstanding. Mutual fund holders own 35.15%, while other institutional holders and individual stakeholders account for 58.74% and 10.36% respectively.
It has a market capitalization of $20.89B and a beta (3y monthly) value of 1.02. The earnings-per-share (ttm) stands at -$5.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 3.44% over the week and 4.30% over the month.
Analysts forecast that MongoDB Inc. (MDB) will achieve an EPS of $0.19 for the current quarter, $0.14 for the next quarter and $1.53 for 2025. The lowest estimate earnings-per-share for the quarter is $0.17 while analysts give the company a high EPS estimate of $0.31. Comparatively, EPS for the current quarter was $0.2 a year ago. Earnings per share for the fiscal year are expected to decrease by -5.90%, and 48.21% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 25 brokerage firm advisors rate MongoDB Inc. (MDB) as a “Strong Buy” at a consensus score of 1.90. Specifically, 17 Wall Street analysts polled rate the stock as a buy, while 4 of the 25 advise that investors “hold,” and 0 rated it as a “Sell.”
