Massachusetts Financial Services Co. MA Grows Position in MongoDB, Inc. $MDB

Massachusetts Financial Services Co. MA boosted its holdings in MongoDB, Inc. (NASDAQ:MDB) by 611.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 715,100 shares of the company’s stock after acquiring an additional 614,559 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.88% of MongoDB worth $300,120,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of MDB. Integrated Wealth Concepts LLC raised its position in MongoDB by 31.6% in the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock worth $239,000 after acquiring an additional 327 shares in the last quarter. NewEdge Advisors LLC raised its position in MongoDB by 55.0% in the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock worth $743,000 after acquiring an additional 1,504 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in MongoDB in the second quarter valued at $329,000. Cresset Asset Management LLC increased its position in shares of MongoDB by 13.4% in the second quarter. Cresset Asset Management LLC now owns 3,138 shares of the company’s stock valued at $659,000 after buying an additional 370 shares in the last quarter. Finally, Cerity Partners LLC increased its position in shares of MongoDB by 28.3% in the second quarter. Cerity Partners LLC now owns 12,215 shares of the company’s stock valued at $2,565,000 after buying an additional 2,697 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Down 1.5%

MDB opened at $225.95 on Friday. The firm has a market cap of $18.16 billion, a P/E ratio of -256.76 and a beta of 1.60. MongoDB, Inc. has a 52 week low of $148.88 and a 52 week high of $444.72. The business’s fifty day simple moving average is $293.41 and its 200 day simple moving average is $343.96.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.28 earnings per share. As a group, equities analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on MDB. Raymond James Financial began coverage on MongoDB in a research report on Monday, December 15th. They issued a “market perform” rating for the company. Zacks Research cut MongoDB from a “hold” rating to a “strong sell” rating in a research report on Tuesday, March 31st. Canaccord Genuity Group dropped their price target on MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. The Goldman Sachs Group dropped their price target on MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research report on Wednesday, March 4th. Finally, Wedbush dropped their price target on MongoDB from $440.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. Twenty-seven equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $360.03.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction 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 sale, the director owned 80,462 shares of the company’s stock, valued at $29,750,824.50. This trade represents a 1.46% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction 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 sale, the director directly owned 24,093 shares in the company, valued at approximately $6,007,107.69. The trade was a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 19,895 shares of company stock worth $7,856,118. Corporate insiders own 3.10% of the company’s stock.

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.