Spyglass Capital Management LLC Lowers Stake in MongoDB, Inc. $MDB

Spyglass Capital Management LLC reduced its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 11.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 223,226 shares of the company’s stock after selling 29,948 shares during the quarter. MongoDB makes up 4.1% of Spyglass Capital Management LLC’s holdings, making the stock its 11th largest position. Spyglass Capital Management LLC owned 0.28% of MongoDB worth $74,982,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Root Financial Partners LLC lifted its holdings in shares of MongoDB by 58.2% during the 4th quarter. Root Financial Partners LLC now owns 87 shares of the company’s stock valued at $37,000 after purchasing an additional 32 shares during the last quarter. Moody National Bank Trust Division increased its holdings in shares of MongoDB by 3.1% during the second quarter. Moody National Bank Trust Division now owns 1,123 shares of the company’s stock valued at $377,000 after acquiring an additional 34 shares in the last quarter. HighPoint Advisor Group LLC increased its holdings in shares of MongoDB by 2.5% during the fourth quarter. HighPoint Advisor Group LLC now owns 1,491 shares of the company’s stock valued at $626,000 after acquiring an additional 36 shares in the last quarter. Basecamp Wealth Advisors LLC raised its position in shares of MongoDB by 14.3% in the 1st quarter. Basecamp Wealth Advisors LLC now owns 287 shares of the company’s stock valued at $70,000 after purchasing an additional 36 shares during the last quarter. Finally, Lido Advisors LLC raised its position in shares of MongoDB by 3.4% in the 4th quarter. Lido Advisors LLC now owns 1,092 shares of the company’s stock valued at $458,000 after purchasing an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on MDB. Stifel Nicolaus set a $475.00 target price on shares of MongoDB in a research report on Tuesday, August 18th. Guggenheim raised their price target on shares of MongoDB from $475.00 to $560.00 and gave the stock a “buy” rating in a report on Tuesday, August 18th. Scotiabank reiterated an “outperform” rating on shares of MongoDB in a research note on Friday, May 29th. Monness Crespi & Hardt lifted their price objective on shares of MongoDB from $415.00 to $460.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Morgan Stanley boosted their price objective on shares of MongoDB from $335.00 to $380.00 and gave the company an “overweight” rating in a report on Friday, May 29th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $458.65.

Insider Buying and Selling at MongoDB

In other MongoDB news, CFO Michael J. Berry sold 5,000 shares of the stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $356.63, for a total transaction of $1,783,150.00. Following the sale, the chief financial officer directly owned 1,500 shares of the company’s stock, valued at approximately $534,945. This trade represents a 76.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, 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 MongoDB stock in a transaction dated Wednesday, June 17th. The shares were sold at an average price of $344.05, for a total value of $538,782.30. Following the transaction, the director owned 25,444 shares of the company’s stock, valued at $8,754,008.20. The trade was a 5.80% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 80,696 shares of company stock valued at $31,425,055. Company insiders own 2.60% of the company’s stock.

MongoDB Price Performance

MDB stock opened at $453.37 on Tuesday. The firm’s fifty day simple moving average is $367.65 and its 200-day simple moving average is $321.78. The company has a market capitalization of $36.46 billion, a P/E ratio of -1,225.32, a price-to-earnings-growth ratio of 3,172.71 and a beta of 1.55. MongoDB, Inc. has a 12 month low of $215.68 and a 12 month high of $473.10.

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.