Advent International L.P. Boosts Position in MongoDB, Inc. $MDB

Key Points

• Advent International L.P. increased its stake in MongoDB, Inc. by 3.0%, purchasing an additional 1,610 shares during the first quarter, now holding a total of 56,110 shares.
• MongoDB's recent earnings report showed a quarterly revenue of $549.01 million, exceeding analysts' expectations, with a 21.8% increase compared to the same quarter last year.
• Several brokerages have upgraded their ratings and price targets for MongoDB, with estimates now ranging from $265.00 to $360.00 following positive market sentiment.

Advent International L.P. boosted its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,110 shares of the company's stock after acquiring an additional 1,610 shares during the period. MongoDB accounts for about 0.3% of Advent International L.P.'s investment portfolio, making the stock its 17th largest position. Advent International L.P. owned about 0.07% of MongoDB worth $9,842,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Handelsbanken Fonder AB grew its stake in MongoDB by 0.4% in the 1st quarter. Handelsbanken Fonder AB now owns 14,816 shares of the company's stock valued at $2,599,000 after acquiring an additional 65 shares during the last quarter. Wedbush Securities Inc. grew its stake in MongoDB by 2.6% in the 1st quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock valued at $530,000 after acquiring an additional 77 shares during the last quarter. Fifth Third Bancorp grew its stake in MongoDB by 15.9% in the 1st quarter. Fifth Third Bancorp now owns 569 shares of the company's stock valued at $100,000 after acquiring an additional 78 shares during the last quarter. Arizona State Retirement System grew its stake in MongoDB by 0.4% in the 1st quarter. Arizona State Retirement System now owns 21,504 shares of the company's stock valued at $3,772,000 after acquiring an additional 83 shares during the last quarter. Finally, Moody National Bank Trust Division grew its stake in MongoDB by 5.6% in the 1st quarter. Moody National Bank Trust Division now owns 1,751 shares of the company's stock valued at $307,000 after acquiring an additional 93 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,174 shares of the firm'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 value of $236,067.92. Following the transaction, the director owned 21,096 shares in the company, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 33,320 shares of the firm's stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the completion of the transaction, the chief executive officer owned 203,237 shares in the company, valued at $61,233,275.73. The trade was a 14.09% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,730 shares of company stock valued at $15,966,159. Insiders own 3.10% of the company's stock.

MongoDB Stock Up 0.8%

Shares of MDB stock traded up $2.69 during trading hours on Friday, hitting $324.74. 2,337,363 shares of the company were exchanged, compared to its average volume of 4,188,581. The firm has a market cap of $26.53 billion, a PE ratio of -331.37 and a beta of 1.49. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The firm has a fifty day moving average of $234.03 and a 200 day moving average of $208.19.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.65 by $0.35. The business had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The company's revenue was up 21.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.51 EPS. Analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Truist Financial increased their price objective on shares of MongoDB from $275.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Citigroup increased their price objective on shares of MongoDB from $405.00 to $425.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. DA Davidson upped their target price on shares of MongoDB from $275.00 to $325.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Canaccord Genuity Group upped their target price on shares of MongoDB from $320.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Finally, Loop Capital lowered shares of MongoDB from a "buy" rating to a "hold" rating and reduced their target price for the company from $350.00 to $190.00 in a report on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $310.86.

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.