EMC Capital Management Lowers Stake in MongoDB, Inc. $MDB

EMC Capital Management lessened its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 56.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,370 shares of the company’s stock after selling 3,050 shares during the quarter. MongoDB makes up about 0.3% of EMC Capital Management’s portfolio, making the stock its 16th biggest position. EMC Capital Management’s holdings in MongoDB were worth $736,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. ValueAct Holdings L.P. raised its holdings in MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. AQR Capital Management LLC lifted 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. boosted its holdings in shares of MongoDB by 162.1% in 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 buying an additional 852,540 shares in the last quarter. Norges Bank purchased a new position in shares of MongoDB in the 2nd quarter worth approximately $164,338,000. Finally, Vanguard Group Inc. grew its position in shares of MongoDB by 9.5% in the 2nd quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company’s stock worth $1,796,321,000 after buying an additional 744,547 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on MDB. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price target (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Needham & Company LLC dropped their target price on MongoDB from $500.00 to $300.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. UBS Group reduced their target price on MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a research report on Tuesday, March 3rd. Morgan Stanley increased their price target on MongoDB from $400.00 to $440.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. Finally, Macquarie Infrastructure raised their price target on MongoDB from $305.00 to $385.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average target price of $354.18.

MongoDB Stock Up 2.0%

MongoDB stock opened at $272.27 on Wednesday. The stock has a 50-day moving average price of $347.73 and a 200 day moving average price of $353.45. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of -309.40 and a beta of 1.40. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping 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 company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same quarter in the prior year, the company earned $1.28 EPS. MongoDB’s quarterly revenue was up 26.8% on a year-over-year basis. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 1,190 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the transaction, 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 sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders have sold a total of 19,383 shares of company stock valued at $7,910,983 in the last quarter. 3.10% of the stock is owned by corporate insiders.

MongoDB Company 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.