Arrowstreet Capital Limited Partnership Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Arrowstreet Capital Limited Partnership acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 59,412 shares of the company’s stock, valued at approximately $13,832,000.

Several other institutional investors have also recently modified their holdings of the stock. B.O.S.S. Retirement Advisors LLC acquired a new stake in shares of MongoDB during the 4th quarter worth about $606,000. Geode Capital Management LLC grew its stake in MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after acquiring an additional 34,814 shares during the period. Union Bancaire Privee UBP SA purchased a new stake in MongoDB in the 4th quarter worth approximately $3,515,000. Nisa Investment Advisors LLC raised its holdings in MongoDB by 428.0% in the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company’s stock valued at $1,340,000 after acquiring an additional 4,665 shares during the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of MongoDB by 2.0% during the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after purchasing an additional 372 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Performance

NASDAQ MDB opened at $154.39 on Friday. MongoDB, Inc. has a 1 year low of $151.52 and a 1 year high of $387.19. The business’s fifty day moving average is $236.68 and its two-hundred day moving average is $262.08. The stock has a market capitalization of $12.53 billion, a P/E ratio of -56.35 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last announced its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same quarter in the previous year, the business earned $0.86 earnings per share. On average, research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analysts Set New Price Targets

MDB has been the subject of several analyst reports. Tigress Financial upped their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. KeyCorp downgraded shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. JMP Securities reissued a “market outperform” rating and issued a $380.00 target price on shares of MongoDB in a research report on Wednesday, December 11th. Oppenheimer lowered their target price on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Finally, Barclays cut their price target on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $312.84.

Insider Activity

In other news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the completion of the sale, the chief executive officer now directly owns 268,948 shares in the company, valued at $46,597,930.48. The trade was a 6.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This trade represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,060 shares of company stock worth $13,461,875 in the last 90 days. Company insiders own 3.60% of the company’s stock.

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.