Orion Portfolio Solutions LLC Raises Stake in MongoDB, Inc. (NASDAQ:MDB)

Orion Portfolio Solutions LLC boosted its holdings in MongoDB, Inc. (NASDAQ:MDB) by 4.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 5,102 shares of the company’s stock after buying an additional 215 shares during the period. Orion Portfolio Solutions LLC’s holdings in MongoDB were worth $1,379,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of MDB. Jennison Associates LLC raised its position in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in MongoDB in the second quarter valued at $52,131,000. Avala Global LP bought a new position in MongoDB during the 3rd quarter valued at $47,960,000. Finally, Renaissance Technologies LLC grew its holdings in MongoDB by 828.9% during the 2nd quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock worth $45,743,000 after acquiring an additional 163,300 shares in the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other MongoDB news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $355.92, for a total transaction of $355,920.00. Following the sale, the chief accounting officer now owns 15,068 shares of the company’s stock, valued at approximately $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the sale, the director now owns 1,131,006 shares in the company, valued at $289,820,287.50. This represents a 0.26 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock worth $7,611,849 in the last 90 days. Company insiders own 3.60% of the company’s stock.

MongoDB Stock Down 7.4 %

MDB opened at $267.19 on Friday. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62. The business has a 50 day moving average of $293.13 and a 200-day moving average of $269.12. The stock has a market cap of $19.74 billion, a price-to-earnings ratio of -97.51 and a beta of 1.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, beating analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $529.40 million for the quarter, compared to analyst estimates of $497.39 million. During the same quarter in the prior year, the business earned $0.96 EPS. MongoDB’s quarterly revenue was up 22.3% on a year-over-year basis. As a group, analysts expect that MongoDB, Inc. will post -2.29 earnings per share for the current year.

Analyst Ratings Changes

MDB has been the subject of several research analyst reports. Mizuho boosted their price objective on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday. Needham & Company LLC upped their price target on MongoDB from $335.00 to $415.00 and gave the company a “buy” rating in a research report on Tuesday. Wedbush upgraded MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Royal Bank of Canada boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Stifel Nicolaus raised their price target on shares of MongoDB from $325.00 to $360.00 and gave the stock a “buy” rating in a research report on Monday, December 9th. One analyst has rated the stock with a sell rating, six have given a hold rating, twenty have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $370.08.

About MongoDB

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.