Hidden Lake Asset Management LP Buys Shares of 17,689 MongoDB, Inc. $MDB

Hidden Lake Asset Management LP purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 17,689 shares of the company’s stock, valued at approximately $5,490,000. MongoDB makes up about 0.7% of Hidden Lake Asset Management LP’s holdings, making the stock its 23rd largest position.

Several other large investors have also bought and sold shares of MDB. Meiji Yasuda Asset Management Co Ltd. lifted its stake in MongoDB by 3.8% in 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 during the last quarter. Brooklyn Investment Group grew its stake in shares of MongoDB by 7.4% during the third quarter. Brooklyn Investment Group now owns 679 shares of the company’s stock worth $211,000 after buying an additional 47 shares during the last quarter. Huntington National Bank grew its stake in shares of MongoDB by 110.9% during the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after buying an additional 51 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of MongoDB by 46.2% during the third 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. Finally, Westside Investment Management Inc. lifted its stake in shares of 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 acquiring an additional 55 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Dwight A. Merriman sold 10,000 shares of the 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the sale, the director directly owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. The trade was a 5.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 21,949 shares of company stock worth $8,981,630. 3.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Wall Street Zen upgraded MongoDB from a “hold” rating to a “buy” rating in a research report on Sunday. Citigroup dropped their target price on MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Mizuho cut their price target on MongoDB from $380.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Oppenheimer lowered their price objective on MongoDB from $425.00 to $375.00 and set an “outperform” rating for the company in a research note on Tuesday, March 3rd. Finally, Royal Bank Of Canada cut their target price on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $354.18.

MongoDB Trading Down 0.1%

Shares of MDB opened at $260.50 on Monday. The firm’s fifty day simple moving average is $354.08 and its two-hundred day simple moving average is $354.11. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $444.72. The stock has a market capitalization of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share 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 the consensus estimate of $669.40 million. During the same period in the prior year, the business earned $1.28 EPS. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. As a group, research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

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.