Quadrature Capital Ltd Raises Position in MongoDB, Inc. $MDB

Quadrature Capital Ltd boosted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 196.7% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 53,110 shares of the company’s stock after buying an additional 35,208 shares during the period. Quadrature Capital Ltd’s holdings in MongoDB were worth $16,485,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Huntington National Bank increased its stake in MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after acquiring an additional 51 shares during the last quarter. TD Private Client Wealth LLC boosted its position in shares of MongoDB by 2,825.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after acquiring an additional 113 shares during the last quarter. Hollencrest Capital Management bought a new stake in shares of MongoDB during the 3rd quarter valued at about $37,000. Westside Investment Management Inc. grew its holdings in shares of MongoDB by 82.1% during the third quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after purchasing an additional 55 shares in the last quarter. Finally, Parkside Financial Bank & Trust grew its holdings in shares of MongoDB by 85.5% during the third quarter. Parkside Financial Bank & Trust now owns 141 shares of the company’s stock worth $44,000 after purchasing an additional 65 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Scotiabank raised shares of MongoDB from a “sector perform” rating to a “sector outperform” rating and raised their target price for the company from $275.00 to $310.00 in a research note on Thursday, March 5th. Sanford C. Bernstein cut shares of MongoDB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 3rd. Argus increased their price target on shares of MongoDB from $340.00 to $488.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Needham & Company LLC lowered their price objective on shares of MongoDB from $500.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Cantor Fitzgerald dropped their price objective on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.18.

Insiders Place Their Bets

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the sale, the director directly owned 25,659 shares in the company, valued at $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the transaction, the director directly owned 1,031,316 shares in the company, valued at $420,467,533.20. This trade represents a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 21,949 shares of company stock worth $8,981,630. 3.10% of the stock is owned by corporate insiders.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $260.68 on Friday. MongoDB, Inc. has a one year low of $140.78 and a one year high of $444.72. The firm’s 50 day simple moving average is $356.86 and its two-hundred day simple moving average is $352.44. The stock has a market capitalization of $21.22 billion, a P/E ratio of -296.23 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share 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 firm had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. During the same period in the previous year, the business posted $1.28 EPS. The business’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

About MongoDB

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.