Boothbay Fund Management LLC Grows Stock Position in MongoDB, Inc. $MDB

Boothbay Fund Management LLC boosted its holdings in MongoDB, Inc. (NASDAQ:MDB) by 98.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,482 shares of the company’s stock after buying an additional 6,699 shares during the period. Boothbay Fund Management LLC’s holdings in MongoDB were worth $4,185,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDB. Meiji Yasuda Asset Management Co Ltd. lifted its holdings in shares of MongoDB by 3.8% during the 3rd quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock worth $342,000 after acquiring an additional 40 shares during the period. Brooklyn Investment Group boosted its position in shares of MongoDB by 7.4% in the third quarter. Brooklyn Investment Group now owns 679 shares of the company’s stock worth $211,000 after acquiring an additional 47 shares during the last quarter. Huntington National Bank grew its holdings in MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. GAMMA Investing LLC grew its holdings in MongoDB by 46.2% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock valued at $53,000 after purchasing an additional 54 shares during the period. Finally, Westside Investment Management Inc. increased its position in MongoDB by 82.1% during the third quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after purchasing an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Transactions at MongoDB

In other news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the sale, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 1,190 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $369.75, for a total value of $440,002.50. Following the sale, the director owned 80,462 shares in the company, valued at approximately $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. 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.

MongoDB Trading Down 0.1%

NASDAQ:MDB opened at $260.50 on Monday. The firm has a market capitalization of $21.20 billion, a price-to-earnings ratio of -296.02 and a beta of 1.40. The firm’s fifty day simple moving average is $354.08 and its 200 day simple moving average is $354.11. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $444.72.

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

Analysts Set New Price Targets

A number of research firms have weighed in on MDB. Oppenheimer cut their price target on shares of MongoDB from $425.00 to $375.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Robert W. Baird reissued a “neutral” rating and set a $260.00 price objective (down from $500.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Truist Financial dropped their price objective on MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Zacks Research lowered MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Needham & Company LLC reduced their target price on MongoDB from $500.00 to $300.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. One 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 given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.18.

About MongoDB

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.