Avala Global LP Purchases Shares of 274,800 MongoDB, Inc. $MDB

Avala Global LP acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 274,800 shares of the company’s stock, valued at approximately $85,292,000. MongoDB accounts for approximately 3.5% of Avala Global LP’s portfolio, making the stock its 12th biggest position.

Other hedge funds have also modified their holdings of the company. Cramer Rosenthal Mcglynn LLC grew its stake in MongoDB by 897.7% during the 3rd quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock worth $17,938,000 after purchasing an additional 52,002 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of MongoDB by 1,277.1% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock valued at $5,655,000 after buying an additional 16,896 shares during the period. Pacer Advisors Inc. grew its position in shares of MongoDB by 209.0% during the third quarter. Pacer Advisors Inc. now owns 4,549 shares of the company’s stock worth $1,412,000 after buying an additional 3,077 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock worth $41,910,000 after buying an additional 39,978 shares during the period. Finally, Pinegrove Venture Partners LLC acquired a new stake in MongoDB in the third quarter valued at approximately $1,032,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at MongoDB

In other news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction that occurred 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 sale, the director directly owned 1,031,316 shares of the company’s stock, valued at approximately $420,467,533.20. This represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction that occurred 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 transaction, the director owned 25,659 shares in the company, valued at approximately $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,949 shares of company stock worth $8,981,630. 3.10% of the stock is currently owned by corporate insiders.

MongoDB Price Performance

NASDAQ MDB opened at $260.50 on Friday. The company has a fifty day moving average of $354.08 and a two-hundred day moving average of $353.70. The company has a market capitalization of $21.20 billion, a PE ratio of -296.02 and a beta of 1.40. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $444.72.

MongoDB (NASDAQ:MDB) last posted its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates 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 business had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter in the previous year, the firm earned $1.28 earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year. On average, research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on MDB. Wells Fargo & Company dropped their price objective on shares of MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. The Goldman Sachs Group lowered their target price on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Wall Street Zen upgraded MongoDB from a “hold” rating to a “buy” rating in a research note on Sunday. Zacks Research cut MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Robert W. Baird reiterated a “neutral” rating and issued a $260.00 price objective (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. One research 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 given a Sell rating to the stock. Based on data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and a consensus 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.