Harel Insurance Investments & Financial Services Ltd. Has $148.87 Million Stake in MongoDB, Inc. $MDB

Harel Insurance Investments & Financial Services Ltd. boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 115.1% in the fourth quarter, Holdings Channel reports. The fund owned 354,720 shares of the company’s stock after acquiring an additional 189,820 shares during the period. MongoDB accounts for 1.3% of Harel Insurance Investments & Financial Services Ltd.’s investment portfolio, making the stock its 22nd biggest holding. Harel Insurance Investments & Financial Services Ltd.’s holdings in MongoDB were worth $148,872,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in MDB. ValueAct Holdings L.P. raised its position in shares of MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after buying an additional 1,427,700 shares during the last quarter. AQR Capital Management LLC raised its position in shares of MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after buying an additional 1,069,969 shares during the last quarter. Jericho Capital Asset Management L.P. raised its position 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 buying an additional 852,540 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of MongoDB by 162.3% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after buying an additional 678,746 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of MongoDB by 611.3% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company’s stock valued at $300,120,000 after buying an additional 614,559 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the transaction, the director directly owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The shares were sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the completion of the transaction, the director directly owned 476,896 shares in the company, valued at approximately $120,335,167.68. The trade was a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 13,566 shares of company stock worth $3,294,891 over the last three months. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on MDB shares. Mizuho raised shares of MongoDB from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $290.00 to $325.00 in a research report on Monday, March 23rd. Citigroup cut their price objective on shares of MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Weiss Ratings lowered shares of MongoDB from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, April 29th. DA Davidson cut their price objective on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. 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. Twenty-six analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $361.97.

MongoDB Price Performance

MDB opened at $266.68 on Wednesday. MongoDB, Inc. has a one year low of $169.26 and a one year high of $444.72. The company’s 50 day simple moving average is $263.31 and its 200-day simple moving average is $337.39. The stock has a market capitalization of $21.43 billion, a P/E ratio of -303.05 and a beta of 1.48.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate 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 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 earned $1.28 earnings per share. MongoDB’s revenue was up 26.8% compared to the same quarter last year. As a group, analysts anticipate that MongoDB, Inc. will post -0.46 EPS for the current 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.