Contour Asset Management LLC Boosts Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Contour Asset Management LLC grew its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 11.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 205,694 shares of the company's stock after acquiring an additional 20,968 shares during the quarter. MongoDB makes up approximately 1.4% of Contour Asset Management LLC's holdings, making the stock its 21st largest position. Contour Asset Management LLC owned 0.28% of MongoDB worth $47,888,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of MongoDB in the fourth quarter valued at $29,000. Hilltop National Bank lifted its holdings in shares of MongoDB by 47.2% during the fourth quarter. Hilltop National Bank now owns 131 shares of the company's stock valued at $30,000 after purchasing an additional 42 shares during the last quarter. NCP Inc. purchased a new stake in shares of MongoDB during the fourth quarter valued at $35,000. Versant Capital Management Inc lifted its holdings in shares of MongoDB by 1,100.0% during the fourth quarter. Versant Capital Management Inc now owns 180 shares of the company's stock valued at $42,000 after purchasing an additional 165 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new stake in shares of MongoDB during the third quarter valued at $44,000. 89.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling at MongoDB

In other MongoDB news, CEO Dev Ittycheria sold 18,512 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the transaction, the chief executive officer now directly owns 268,948 shares of the company's stock, valued at $46,597,930.48. This trade represents a 6.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction 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 transaction, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. The trade was a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 34,423 shares of company stock worth $7,148,369. Insiders own 3.60% of the company's stock.

MongoDB Stock Up 6.1%

MDB traded up $10.81 during trading on Monday, reaching $189.35. 1,160,135 shares of the stock traded hands, compared to its average volume of 1,863,538. The stock has a market capitalization of $15.37 billion, a PE ratio of -68.98 and a beta of 1.49. The stock's 50-day moving average is $176.07 and its 200 day moving average is $241.58. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $379.06.

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

Analysts Set New Price Targets

Several research firms recently weighed in on MDB. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. China Renaissance began coverage on MongoDB in a research note on Tuesday, January 21st. They set a "buy" rating and a $351.00 target price for the company. Piper Sandler reduced their price objective on MongoDB from $280.00 to $200.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Wedbush dropped their target price on MongoDB from $360.00 to $300.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Finally, Canaccord Genuity Group dropped their target price on MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a report on Thursday, March 6th. Eight research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, MongoDB presently has an average rating of "Moderate Buy" and an average target price of $294.78.

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.