Spyglass Capital Management LLC Has $105.44 Million Stock Position in MongoDB, Inc. $MDB

Spyglass Capital Management LLC trimmed its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 339,723 shares of the company’s stock after selling 5,404 shares during the quarter. MongoDB makes up 5.6% of Spyglass Capital Management LLC’s investment portfolio, making the stock its 3rd largest position. Spyglass Capital Management LLC owned approximately 0.42% of MongoDB worth $105,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC boosted its holdings 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 worth $233,435,000 after purchasing an additional 1,069,969 shares during the period. Norges Bank purchased a new stake in MongoDB in the 2nd quarter worth approximately $164,338,000. Vanguard Group Inc. lifted its holdings in 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 period. Arrowstreet Capital Limited Partnership boosted its holdings in MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after acquiring an additional 678,746 shares in the last quarter. Finally, Voya Investment Management LLC raised its holdings in MongoDB by 503.1% in the 3rd quarter. Voya Investment Management LLC now owns 716,779 shares of the company’s stock worth $222,474,000 after purchasing an additional 597,937 shares in the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Down 0.1%

MDB stock opened at $260.50 on Friday. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $444.72. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of -296.02 and a beta of 1.40. The firm’s fifty day simple moving average is $354.08 and its two-hundred day simple moving average is $352.74.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.18. The company 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%.MongoDB’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.28 EPS. As a group, equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total value of $4,077,000.00. Following the completion of the transaction, the director directly owned 1,031,316 shares of the company’s stock, valued at approximately $420,467,533.20. The trade was a 0.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated 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 approximately $10,824,249.15. The trade was a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,949 shares of company stock valued at $8,981,630 in the last three months. 3.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

MDB has been the subject of a number of research reports. Guggenheim reiterated a “buy” rating and issued a $475.00 price objective on shares of MongoDB in a report on Tuesday, March 3rd. Scotiabank raised MongoDB from a “sector perform” rating to a “sector outperform” rating and lifted their target price for the stock from $275.00 to $310.00 in a report on Thursday, March 5th. Citigroup cut their target price on shares of MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Zacks Research cut shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Monday, March 2nd. Finally, Morgan Stanley boosted their price target on MongoDB from $400.00 to $440.00 and gave the company an “overweight” rating in a report on Tuesday, December 2nd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $354.18.

MongoDB 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.