Advent International L.P. Has $12.69 Million Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Advent International L.P. lifted its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 51.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,500 shares of the company's stock after buying an additional 18,500 shares during the period. MongoDB makes up 0.3% of Advent International L.P.'s investment portfolio, making the stock its 18th largest holding. Advent International L.P. owned about 0.07% of MongoDB worth $12,688,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new position in shares of MongoDB during the 4th quarter worth approximately $189,584,000. Marshall Wace LLP purchased a new position in MongoDB in the fourth quarter worth $110,356,000. Raymond James Financial Inc. acquired a new stake in MongoDB in the fourth quarter valued at $90,478,000. D1 Capital Partners L.P. purchased a new stake in shares of MongoDB during the 4th quarter worth $76,129,000. Finally, Amundi increased its holdings in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company's stock valued at $172,519,000 after purchasing an additional 321,186 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on MDB. China Renaissance began coverage on MongoDB in a research report on Tuesday, January 21st. They issued a "buy" rating and a $351.00 price target for the company. Truist Financial decreased their target price on shares of MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. Citigroup dropped their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research note on Tuesday, April 1st. Stifel Nicolaus decreased their price target on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research report on Friday, April 11th. Finally, Macquarie dropped their price objective on shares of MongoDB from $300.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $294.78.

Insider Buying and Selling

In other news, insider Cedric Pech sold 1,690 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the transaction, the insider now owns 57,634 shares of the company's stock, valued at $9,985,666.84. This trade represents a 2.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the company's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This represents a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 36,345 shares of company stock worth $7,687,310. Corporate insiders own 3.60% of the company's stock.

MongoDB Stock Up 0.8 %

Shares of MDB stock traded up $1.32 during trading hours on Monday, reaching $172.96. 1,254,868 shares of the stock traded hands, compared to its average volume of 1,851,850. The business has a fifty day moving average price of $184.75 and a 200 day moving average price of $244.79. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $379.06. The firm has a market capitalization of $14.04 billion, a PE ratio of -63.12 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analysts' expectations 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 period last year, the company earned $0.86 earnings per share. Research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.