Arrowstreet Capital Limited Partnership Acquires 678,746 Shares of MongoDB, Inc. $MDB

Arrowstreet Capital Limited Partnership grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 162.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,097,059 shares of the company’s stock after acquiring an additional 678,746 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.35% of MongoDB worth $340,505,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Huntington National Bank raised its stake 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 in the last quarter. TD Private Client Wealth LLC lifted its position in MongoDB by 2,825.0% during the third quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after purchasing an additional 113 shares during the last quarter. Hollencrest Capital Management purchased a new position in MongoDB in the 3rd quarter worth approximately $37,000. Westside Investment Management Inc. increased its holdings in shares of MongoDB by 82.1% in the 3rd quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after buying an additional 55 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its holdings in shares of MongoDB by 85.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 141 shares of the company’s stock worth $44,000 after buying an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of MongoDB stock opened at $260.68 on Friday. MongoDB, Inc. has a one year low of $140.78 and a one year high of $444.72. The business’s 50 day simple moving average is $356.86 and its two-hundred day simple moving average is $352.44. The stock has a market capitalization of $21.22 billion, a P/E ratio of -296.23 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter last year, the business earned $1.28 earnings per share. The business’s revenue was up 26.8% on a year-over-year basis. Sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 10,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $420,467,533.20. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $660,617.10. Following the sale, the director owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 21,949 shares of company stock worth $8,981,630 in the last 90 days. Corporate insiders own 3.10% of the company’s stock.

Analyst Ratings Changes

MDB has been the subject of a number of research analyst reports. BMO Capital Markets reaffirmed an “outperform” rating and set a $340.00 price objective (down from $400.00) on shares of MongoDB in a report on Tuesday, March 3rd. Wedbush lowered their price target on MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Scotiabank raised MongoDB from a “sector perform” rating to a “sector outperform” rating and lifted their price target for the stock from $275.00 to $310.00 in a research note on Thursday, March 5th. Raymond James Financial initiated coverage on MongoDB in a report on Monday, December 15th. They issued a “market perform” rating for the company. Finally, Wall Street Zen cut MongoDB from a “buy” rating to a “hold” rating in a report on Saturday, March 7th. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average 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.