Coldstream Capital Management Inc. Purchases New Stake in MongoDB, Inc. (NASDAQ:MDB)

Coldstream Capital Management Inc. acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 755 shares of the company’s stock, valued at approximately $209,000.

Several other hedge funds have also added to or reduced their stakes in MDB. Jennison Associates LLC lifted its position in shares of MongoDB by 23.6% during the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after buying an additional 592,038 shares during the last quarter. Geode Capital Management LLC lifted its holdings in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP boosted its position in MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after purchasing an additional 7,526 shares during the period. 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 purchasing an additional 388,979 shares in the last quarter. Finally, Holocene Advisors LP raised its position in shares of MongoDB by 22.6% in the third quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after purchasing an additional 66,730 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Monday. Barclays lifted their price target on MongoDB from $375.00 to $400.00 and gave the company an “overweight” rating in a research report on Tuesday, December 10th. Needham & Company LLC increased their price objective on MongoDB from $335.00 to $415.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Piper Sandler reaffirmed an “overweight” rating and set a $425.00 target price on shares of MongoDB in a report on Tuesday, December 10th. Finally, KeyCorp upped their price target on MongoDB from $330.00 to $375.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-one have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $365.07.

MongoDB Price Performance

NASDAQ:MDB opened at $265.10 on Wednesday. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62. The business has a 50 day moving average of $293.29 and a 200 day moving average of $267.30. The company has a market capitalization of $19.58 billion, a price-to-earnings ratio of -97.55 and a beta of 1.17.

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

Insider Activity

In other MongoDB news, CFO Michael Lawrence Gordon sold 1,884 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $482,775.00. Following the completion of the sale, the chief financial officer now owns 80,307 shares in the company, valued at approximately $20,578,668.75. The trade was a 2.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 154 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This represents a 0.95 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 26,600 shares of company stock valued at $7,611,849. 3.60% of the stock is currently owned by insiders.

MongoDB Company Profile

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.