32,497 Shares in MongoDB, Inc. $MDB Acquired by Melqart Asset Management UK Ltd

Melqart Asset Management UK Ltd acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 32,497 shares of the company’s stock, valued at approximately $10,086,000. MongoDB comprises 1.3% of Melqart Asset Management UK Ltd’s investment portfolio, making the stock its 27th largest position.

Other institutional investors and hedge funds have also bought and sold shares of the company. 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 buying an additional 51 shares during the period. TD Private Client Wealth LLC lifted its position in shares of MongoDB by 2,825.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after buying an additional 113 shares during the last quarter. Hollencrest Capital Management bought a new position in shares of MongoDB during the 3rd quarter worth $37,000. Westside Investment Management Inc. grew its stake in shares of MongoDB by 82.1% during 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 during the period. Finally, Parkside Financial Bank & Trust increased its holdings in MongoDB by 85.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 141 shares of the company’s stock worth $44,000 after acquiring an additional 65 shares during the last quarter. 89.29% of the stock is owned by institutional investors.

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction that occurred on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the transaction, the director directly owned 25,659 shares of the company’s stock, valued at $10,824,249.15. The trade was a 5.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the sale, the director owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. This represents a 0.96% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 21,949 shares of company stock worth $8,981,630 over the last quarter. Company insiders own 3.10% of the company’s stock.

MongoDB Trading Down 0.1%

Shares of NASDAQ:MDB opened at $260.50 on Friday. The company has a 50 day moving average of $354.08 and a 200 day moving average of $352.74. The stock has a market cap of $21.20 billion, a P/E ratio of -296.02 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 quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter last year, the firm posted $1.28 EPS. The company’s revenue was up 26.8% compared to the same quarter last year. On average, equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on MDB. Scotiabank upgraded MongoDB from a “sector perform” rating to a “sector outperform” rating and boosted their price objective for the company from $275.00 to $310.00 in a research note on Thursday, March 5th. Truist Financial cut their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Guggenheim reiterated a “buy” rating and issued a $475.00 target price on shares of MongoDB in a research note on Tuesday, March 3rd. Robert W. Baird reissued a “neutral” rating and issued a $260.00 price target (down from $500.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Finally, UBS Group dropped their price target on shares of MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and an average price target of $354.18.

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.