Capital World Investors Purchases 23,156 Shares of MongoDB, Inc. $MDB

Capital World Investors boosted its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 5.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 427,748 shares of the company’s stock after purchasing an additional 23,156 shares during the period. Capital World Investors’ holdings in MongoDB were worth $132,765,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. grew its stake in MongoDB by 3.8% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock worth $342,000 after buying an additional 40 shares during the last quarter. Huntington National Bank raised its stake in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after acquiring an additional 51 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of MongoDB by 46.2% in the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $53,000 after acquiring an additional 54 shares in the last quarter. Westside Investment Management Inc. boosted its holdings in shares of MongoDB by 82.1% in the 3rd quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after acquiring an additional 55 shares in the last quarter. Finally, WPG Advisers LLC grew its position in MongoDB by 53.7% during the 3rd quarter. WPG Advisers LLC now owns 166 shares of the company’s stock worth $52,000 after acquiring an additional 58 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on MDB shares. Truist Financial lowered their target price on MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Royal Bank Of Canada dropped their target price on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Citigroup lowered their price target on shares of MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Needham & Company LLC decreased their price objective on MongoDB from $500.00 to $300.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Citizens Jmp lifted their target price on MongoDB from $435.00 to $475.00 and gave the company a “market outperform” rating in a research note on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $354.18.

MongoDB Stock Performance

Shares of MongoDB stock opened at $270.57 on Thursday. The firm has a fifty day moving average of $360.04 and a two-hundred day moving average of $353.08. The stock has a market capitalization of $22.02 billion, a price-to-earnings ratio of -307.47 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 announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.28 earnings per share. As a group, research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total value of $660,617.10. Following the sale, the director directly owned 25,659 shares in the company, valued at $10,824,249.15. This trade represents a 5.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 1,190 shares of MongoDB stock in a transaction that occurred 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 transaction, the director directly owned 80,462 shares in the company, valued at $29,750,824.50. The trade was a 1.46% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 31,949 shares of company stock valued at $13,159,930. 3.10% of the stock is currently owned by company insiders.

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.