Pinnbrook Capital Management LP Takes Position in MongoDB, Inc. $MDB

Pinnbrook Capital Management LP bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the third quarter, HoldingsChannel reports. The institutional investor bought 14,518 shares of the company’s stock, valued at approximately $4,506,000.

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

MongoDB Stock Performance

Shares of MDB stock opened at $260.50 on Friday. The stock has a market capitalization of $21.20 billion, a price-to-earnings ratio of -296.02 and a beta of 1.40. MongoDB, Inc. has a one year low of $140.78 and a one year high of $444.72. The company’s 50-day simple moving average is $354.08 and its 200-day simple moving average is $352.74.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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 during the quarter, compared to analyst estimates of $669.40 million. During the same period in the previous year, the company earned $1.28 earnings per share. MongoDB’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the firm’s stock in a transaction on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the transaction, the director directly owned 1,031,316 shares in the company, valued at $420,467,533.20. This trade represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB 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 approximately $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. In the last quarter, insiders sold 21,949 shares of company stock valued at $8,981,630. Insiders own 3.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MDB. Piper Sandler dropped their target price on MongoDB from $490.00 to $330.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Cantor Fitzgerald reduced their price target on MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Needham & Company LLC lowered their price objective on MongoDB from $500.00 to $300.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. Wall Street Zen downgraded MongoDB from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. Finally, Wells Fargo & Company cut their target price on MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.