Mediolanum International Funds Ltd Invests $1.60 Million in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Mediolanum International Funds Ltd acquired 8,969 shares of MongoDB, Inc. (NASDAQ:MDB), valued at approximately $1.6 million, during the first quarter, as reported in their Form 13F filing with the SEC.
• MongoDB has received multiple positive ratings from analysts, with a consensus rating of "Moderate Buy" and an average target price of $281.31, reflecting strong market confidence in the company's prospects.
• The company reported a quarterly earnings per share of $1.00, significantly outperforming analysts' expectations, alongside a 21.8% year-over-year revenue growth of $549.01 million.

Mediolanum International Funds Ltd purchased a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,969 shares of the company's stock, valued at approximately $1,597,000.

Several other large investors have also made changes to their positions in the business. 111 Capital purchased a new stake in MongoDB in the 4th quarter worth $390,000. Park Avenue Securities LLC grew its position in shares of MongoDB by 52.6% during the first quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock valued at $461,000 after purchasing an additional 907 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of MongoDB by 4.0% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock worth $1,359,000 after purchasing an additional 298 shares during the last quarter. Sowell Financial Services LLC purchased a new stake in shares of MongoDB in the first quarter worth about $263,000. Finally, Farther Finance Advisors LLC lifted its position in shares of MongoDB by 57.2% in the first quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock worth $219,000 after buying an additional 452 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Down 7.8%

MDB stock traded down $18.65 during trading on Friday, hitting $219.25. 1,397,257 shares of the company's stock traded hands, compared to its average volume of 2,291,413. The firm has a market capitalization of $17.92 billion, a P/E ratio of -192.87 and a beta of 1.41. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The business has a fifty day simple moving average of $210.80 and a two-hundred day simple moving average of $212.59.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The business's revenue for the quarter was up 21.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.51 EPS. On average, equities research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on MDB. Wedbush restated an "outperform" rating and set a $300.00 price target on shares of MongoDB in a report on Thursday, June 5th. Loop Capital cut shares of MongoDB from a "buy" rating to a "hold" rating and reduced their price target for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. William Blair reiterated an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. Guggenheim lifted their price objective on shares of MongoDB from $235.00 to $260.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, UBS Group upped their target price on shares of MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a research report on Thursday, June 5th. Nine investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $281.31.

Insiders Place Their Bets

In related news, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $468,000.00. Following the completion of the sale, the director owned 1,107,006 shares of the company's stock, valued at approximately $259,039,404. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is owned by corporate insiders.

MongoDB 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.