Alkeon Capital Management LLC Takes Position in MongoDB, Inc. $MDB

Alkeon Capital Management LLC bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 120,000 shares of the company’s stock, valued at approximately $37,246,000. Alkeon Capital Management LLC owned approximately 0.15% of MongoDB at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. AQR Capital Management LLC lifted its position in MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after acquiring an additional 1,069,969 shares in the last quarter. Norges Bank bought a new stake in MongoDB during the 2nd quarter worth approximately $164,338,000. Vanguard Group Inc. increased its holdings in MongoDB by 9.5% during the 2nd quarter. Vanguard Group Inc. now owns 8,554,315 shares of the company’s stock worth $1,796,321,000 after purchasing an additional 744,547 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake 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 worth $340,505,000 after purchasing an additional 678,746 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake 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 worth $222,474,000 after purchasing an additional 597,937 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Down 0.1%

Shares of MongoDB stock opened at $260.50 on Friday. The business’s fifty day simple moving average is $354.08 and its 200 day simple moving average is $353.70. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $444.72. The firm has a market capitalization of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data 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. 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 quarter in the prior year, the company earned $1.28 EPS. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. Analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on MDB shares. Citizens Jmp lifted their target price on MongoDB from $435.00 to $475.00 and gave the company a “market outperform” rating in a research report on Tuesday, December 2nd. Canaccord Genuity Group lowered their price target on MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a research report 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. Mizuho cut their price objective on shares of MongoDB from $380.00 to $290.00 and set a “neutral” rating on the stock in a report on Tuesday, March 3rd. Finally, Sanford C. Bernstein lowered shares of MongoDB from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $354.18.

Insider Transactions at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the transaction, the director owned 25,659 shares in the company, valued at approximately $10,824,249.15. This 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 10,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the sale, the director owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. This trade represents a 0.96% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,949 shares of company stock worth $8,981,630 over the last three months. 3.10% of the stock is owned by insiders.

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.