Kinetic Partners Management LP Increases Holdings in MongoDB, Inc. $MDB

Kinetic Partners Management LP grew its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 27.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 195,769 shares of the company’s stock after acquiring an additional 41,810 shares during the quarter. MongoDB makes up 2.9% of Kinetic Partners Management LP’s holdings, making the stock its 15th largest holding. Kinetic Partners Management LP’s holdings in MongoDB were worth $60,763,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. AQR Capital Management LLC lifted its holdings in MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after acquiring an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. grew its stake in shares of MongoDB by 162.1% during the 3rd 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 period. Norges Bank bought a new stake in shares of MongoDB during the 2nd quarter valued at about $164,338,000. Vanguard Group Inc. increased its position in shares of MongoDB by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company’s stock valued at $1,796,321,000 after purchasing an additional 744,547 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its position in shares of MongoDB by 162.3% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after purchasing an additional 678,746 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 1,190 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the transaction, the director owned 80,462 shares of the company’s stock, valued at approximately $29,750,824.50. This represents a 1.46% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the transaction, the director directly owned 25,659 shares of the company’s stock, valued at $10,824,249.15. This represents a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 20,949 shares of company stock valued at $8,571,600. Corporate insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the topic of a number of research reports. Wedbush dropped their price objective on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a report on Tuesday, March 3rd. Wells Fargo & Company reduced their target price on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Mizuho decreased their price target on shares of MongoDB from $380.00 to $290.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Wall Street Zen upgraded shares of MongoDB from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Piper Sandler cut their price objective on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $354.18.

MongoDB Trading Up 2.5%

Shares of NASDAQ:MDB opened at $266.95 on Tuesday. The stock has a 50 day moving average of $351.00 and a 200 day moving average of $353.75. The company has a market cap of $21.73 billion, a PE ratio of -303.35 and a beta of 1.40. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $444.72.

MongoDB (NASDAQ:MDB) last released its earnings results on Monday, March 2nd. The company reported $1.65 EPS 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 company had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter last year, the business earned $1.28 EPS. The firm’s revenue was up 26.8% compared to the same quarter last year. Equities research analysts predict 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.