Capital World Investors Purchases 23,156 Shares of MongoDB, Inc. $MDB

Capital World Investors raised its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 427,748 shares of the company’s stock after acquiring an additional 23,156 shares during the period. Capital World Investors owned approximately 0.53% of MongoDB worth $132,765,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Huntington National Bank lifted its position in shares of MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after purchasing an additional 51 shares during the last quarter. Montag A & Associates Inc. grew its holdings in MongoDB by 144.3% in the 2nd quarter. Montag A & Associates Inc. now owns 171 shares of the company’s stock valued at $36,000 after buying an additional 101 shares during the last quarter. Promus Capital LLC bought a new position in MongoDB in the 2nd quarter worth approximately $36,000. TD Private Client Wealth LLC increased its position in MongoDB by 2,825.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock worth $36,000 after buying an additional 113 shares during the period. Finally, Hollencrest Capital Management acquired a new position in shares of MongoDB during the third quarter worth approximately $37,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

Shares of MongoDB stock opened at $270.57 on Thursday. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $444.72. The firm has a market capitalization of $22.02 billion, a PE ratio of -307.47 and a beta of 1.40. The company’s fifty day moving average price is $360.04 and its two-hundred day moving average price is $353.08.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping 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 the consensus estimate of $669.40 million. During the same period last year, the firm earned $1.28 EPS. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. Analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 1,190 shares of the firm’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the transaction, the director owned 80,462 shares in the company, valued at $29,750,824.50. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the sale, the director directly owned 25,659 shares in the company, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 31,949 shares of company stock worth $13,159,930 over the last ninety days. Company insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Bank of America restated a “buy” rating on shares of MongoDB in a research note on Tuesday, March 3rd. Barclays reduced their price target on shares of MongoDB from $440.00 to $370.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. KeyCorp restated a “sector weight” rating on shares of MongoDB in a research report on Tuesday, December 2nd. Stifel Nicolaus dropped their price objective on shares of MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Finally, Royal Bank Of Canada cut their price objective on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $354.18.

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.