Kinetic Partners Management LP Acquires 41,810 Shares of MongoDB, Inc. $MDB

Kinetic Partners Management LP increased its holdings in MongoDB, Inc. (NASDAQ:MDB) by 27.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,769 shares of the company’s stock after acquiring an additional 41,810 shares during the quarter. MongoDB comprises about 2.9% of Kinetic Partners Management LP’s investment portfolio, making the stock its 15th biggest holding. Kinetic Partners Management LP owned about 0.24% of MongoDB worth $60,763,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Light Street Capital Management LLC purchased a new position in MongoDB during the 3rd quarter valued at about $21,261,000. Laird Norton Wetherby Wealth Management LLC purchased a new stake in MongoDB in the third quarter worth about $269,000. Lido Advisors LLC bought a new position in shares of MongoDB during the third quarter valued at approximately $328,000. Jain Global LLC increased its stake in shares of MongoDB by 12.5% during the third quarter. Jain Global LLC now owns 142,308 shares of the company’s stock valued at $44,170,000 after purchasing an additional 15,828 shares in the last quarter. Finally, Jericho Capital Asset Management L.P. lifted its holdings in shares of MongoDB by 162.1% during the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after purchasing an additional 852,540 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Up 2.5%

Shares of MDB opened at $266.95 on Tuesday. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $444.72. The company has a market capitalization of $21.73 billion, a P/E ratio of -303.35 and a beta of 1.40. The firm has a 50 day moving average of $351.00 and a 200 day moving average of $353.75.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same period in the prior year, the firm posted $1.28 EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. On average, sell-side analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,190 shares of MongoDB stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the sale, the director directly owned 80,462 shares in the company, valued at approximately $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 can be accessed through the SEC website. Also, 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 transaction, the director owned 25,659 shares in the company, valued at $10,824,249.15. This represents a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 20,949 shares of company stock valued at $8,571,600 over the last quarter. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of analyst reports. Bank of America reissued a “buy” rating on shares of MongoDB in a research report on Tuesday, March 3rd. Canaccord Genuity Group reduced their price objective on MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Robert W. Baird reiterated a “neutral” rating and set a $260.00 price objective (down from $500.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Barclays dropped their target price on MongoDB from $440.00 to $370.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Finally, Macquarie Infrastructure increased their target price on MongoDB from $305.00 to $385.00 and gave the stock a “neutral” rating in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $354.18.

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.