Crestline Management LP Takes $7.73 Million Position in MongoDB, Inc. (NASDAQ:MDB)

Crestline Management LP purchased a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 33,194 shares of the company's stock, valued at approximately $7,728,000.

Several other hedge funds also recently made changes to their positions in the stock. B.O.S.S. Retirement Advisors LLC bought a new stake in shares of MongoDB during the fourth quarter valued at about $606,000. Union Bancaire Privee UBP SA purchased a new stake in MongoDB in the 4th quarter worth approximately $3,515,000. HighTower Advisors LLC boosted its holdings in MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock valued at $4,371,000 after purchasing an additional 372 shares during the period. Nisa Investment Advisors LLC grew its position in shares of MongoDB by 428.0% during the 4th quarter. Nisa Investment Advisors LLC now owns 5,755 shares of the company's stock valued at $1,340,000 after purchasing an additional 4,665 shares in the last quarter. Finally, Covea Finance bought a new position in shares of MongoDB in the fourth quarter worth $3,841,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on MDB. Wells Fargo & Company lowered MongoDB from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Daiwa Capital Markets began coverage on shares of MongoDB in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 target price on the stock. UBS Group set a $350.00 price target on shares of MongoDB in a research note on Tuesday, March 4th. Cantor Fitzgerald started coverage on shares of MongoDB in a research report on Wednesday, March 5th. They set an "overweight" rating and a $344.00 price objective on the stock. Finally, Canaccord Genuity Group cut their target price on shares of MongoDB from $385.00 to $320.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $294.78.

Insider Transactions at MongoDB

In other news, CFO Srdjan Tanjga sold 525 shares of the company's 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 $90,961.50. Following the transaction, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This represents a 7.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Cedric Pech sold 1,690 shares of the firm's stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the sale, the insider now directly owns 57,634 shares of the company's stock, valued at $9,985,666.84. This trade represents a 2.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 35,423 shares of company stock valued at $7,429,989 in the last ninety days. 3.60% of the stock is currently owned by corporate insiders.

MongoDB Price Performance

MDB traded down $0.72 on Friday, hitting $178.54. The company had a trading volume of 1,598,686 shares, compared to its average volume of 1,865,585. The stock has a fifty day simple moving average of $176.07 and a 200-day simple moving average of $241.73. The firm has a market capitalization of $14.50 billion, a P/E ratio of -65.16 and a beta of 1.49. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $379.06.

MongoDB (NASDAQ:MDB - Get Free Report) last released 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). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter in the prior year, the firm earned $0.86 earnings per share. Equities research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

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.