MongoDB, Inc. $MDB Shares Purchased by Phoenix Financial Ltd.

Phoenix Financial Ltd. boosted its stake in MongoDB, Inc. (NASDAQ:MDB) by 73.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,061 shares of the company’s stock after acquiring an additional 1,717 shares during the period. Phoenix Financial Ltd.’s holdings in MongoDB were worth $1,704,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Cramer Rosenthal Mcglynn LLC raised its holdings in shares of MongoDB by 897.7% during the third 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 during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MongoDB by 1,277.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after purchasing an additional 16,896 shares during the period. Penserra Capital Management LLC raised its holdings 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 purchasing an additional 39,978 shares during the period. Pinegrove Venture Partners LLC acquired a new stake in shares of MongoDB during the third quarter worth $1,032,000. Finally, Kinetic Partners Management LP raised its holdings in shares of MongoDB by 27.2% during the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company’s stock worth $60,763,000 after purchasing an additional 41,810 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Dwight A. Merriman sold 8,000 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $236.89, for a total transaction of $1,895,120.00. Following the completion of the transaction, the director owned 1,005,316 shares in the company, valued at approximately $238,149,307.24. This trade represents a 0.79% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the transaction, the director owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. This trade represents a 6.10% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 15,566 shares of company stock valued at $3,875,011. Insiders own 3.10% of the company’s stock.

MongoDB Stock Up 3.0%

Shares of MDB opened at $312.16 on Friday. The firm has a 50-day moving average price of $262.43 and a 200 day moving average price of $335.77. The firm has a market capitalization of $25.09 billion, a PE ratio of -354.73 and a beta of 1.48. MongoDB, Inc. has a 52-week low of $182.43 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last announced its earnings results 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 firm had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. MongoDB’s revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.28 EPS. On average, equities analysts expect that MongoDB, Inc. will post -0.46 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MDB shares. Canaccord Genuity Group dropped their target price on shares of MongoDB from $455.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Mizuho upgraded shares of MongoDB from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $290.00 to $325.00 in a research report on Monday, March 23rd. Piper Sandler lowered their price target on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Cantor Fitzgerald lowered their price target on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Finally, Citigroup upped their price target on shares of MongoDB from $400.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $364.23.

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.