Bfsg LLC Acquires New Holdings in MongoDB, Inc. $MDB

Bfsg LLC acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,036 shares of the company’s stock, valued at approximately $1,274,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. ValueAct Holdings L.P. raised its position in shares of MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock valued at $657,447,000 after purchasing an additional 1,427,700 shares during the period. AQR Capital Management LLC raised its position in shares of MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after purchasing an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. raised its position in shares of MongoDB by 162.1% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock valued at $427,871,000 after purchasing an additional 852,540 shares during the period. Arrowstreet Capital Limited Partnership raised its position in shares of MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock valued at $340,505,000 after purchasing an additional 678,746 shares during the period. Finally, Voya Investment Management LLC raised its position in shares of MongoDB by 503.1% in the third quarter. Voya Investment Management LLC now owns 716,779 shares of the company’s stock valued at $222,474,000 after purchasing an additional 597,937 shares during the period. Institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value 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. The trade was a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the completion of the transaction, the director directly owned 1,031,316 shares in the company, valued at approximately $420,467,533.20. The trade was a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 19,895 shares of company stock worth $7,856,118 over the last 90 days. 3.10% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MDB. Wells Fargo & Company dropped their price objective on MongoDB from $450.00 to $375.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Barclays dropped their price objective on MongoDB from $440.00 to $370.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Robert W. Baird reaffirmed a “neutral” rating and set a $260.00 target price (down from $500.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Cantor Fitzgerald dropped their target price on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group dropped their target price on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. Twenty-seven analysts have rated the stock with a Buy rating, eight have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $360.03.

MongoDB Price Performance

NASDAQ MDB opened at $225.95 on Friday. The firm has a market cap of $18.16 billion, a PE ratio of -256.76 and a beta of 1.60. MongoDB, Inc. has a one year low of $148.88 and a one year high of $444.72. The stock’s 50 day simple moving average is $293.41 and its 200 day simple moving average is $343.78.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to analysts’ expectations 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 period in the prior year, the firm earned $1.28 earnings per share. As a group, equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

MongoDB 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.