MongoDB, Inc. (NASDAQ:MDB) Stock Position Raised by Spyglass Capital Management LLC

Spyglass Capital Management LLC raised its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 5.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 249,683 shares of the company’s stock after purchasing an additional 13,712 shares during the period. MongoDB accounts for about 3.3% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 19th largest position. Spyglass Capital Management LLC owned approximately 0.34% of MongoDB worth $58,129,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Park Avenue Securities LLC raised its stake in shares of MongoDB by 24.3% during the 4th quarter. Park Avenue Securities LLC now owns 1,723 shares of the company’s stock worth $401,000 after purchasing an additional 337 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock worth $1,340,000 after purchasing an additional 4,665 shares in the last quarter. Exchange Traded Concepts LLC raised its stake in shares of MongoDB by 3.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 8,099 shares of the company’s stock worth $1,886,000 after purchasing an additional 263 shares in the last quarter. B.O.S.S. Retirement Advisors LLC purchased a new stake in shares of MongoDB during the 4th quarter worth about $606,000. Finally, Moody Lynn & Lieberson LLC raised its stake in shares of MongoDB by 9.4% during the 4th quarter. Moody Lynn & Lieberson LLC now owns 10,225 shares of the company’s stock worth $2,380,000 after purchasing an additional 880 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Trading Up 0.4%

Shares of NASDAQ:MDB opened at $191.29 on Monday. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $379.06. The firm has a market capitalization of $15.53 billion, a PE ratio of -69.81 and a beta of 1.49. The business’s 50 day moving average is $174.91 and its 200-day moving average is $238.95.

MongoDB (NASDAQ:MDB) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter last year, the business earned $0.86 EPS. On average, sell-side analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $58,121,799.12. The trade was a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 885 shares of MongoDB stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $292.05, for a total value of $258,464.25. Following the completion of the transaction, the director now owns 83,845 shares of the company’s stock, valued at approximately $24,486,932.25. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,423 shares of company stock worth $7,148,369 in the last 90 days. 3.60% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on MDB. Stifel Nicolaus cut their price objective on MongoDB from $340.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, April 11th. Monness Crespi & Hardt raised shares of MongoDB from a “sell” rating to a “neutral” rating in a research report on Monday, March 3rd. Scotiabank restated a “sector perform” rating and issued a $160.00 price objective (down from $240.00) on shares of MongoDB in a research note on Friday, April 25th. China Renaissance assumed coverage on shares of MongoDB in a report on Tuesday, January 21st. They set a “buy” rating and a $351.00 price objective for the company. Finally, KeyCorp downgraded shares of MongoDB from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 5th. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $293.91.

MongoDB Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.