MongoDB, Inc. $MDB Stock Position Raised by Alight Capital Management LP

Key Points

• Alight Capital Management LP increased its stake in MongoDB by 57.9% during Q1, acquiring an additional 5,500 shares, bringing its total ownership to 15,000 shares valued at approximately $2.63 million.
• Several analysts have raised their price targets for MongoDB, with Citi setting a new target at $425.00 while maintaining a "buy" rating, reflecting strong confidence in the company's potential.
• Insider trading activity showed significant sales, including CEO Dev Ittycheria selling 33,320 shares for approximately $10 million, indicating a 14.09% reduction in his ownership.

Alight Capital Management LP lifted its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 57.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,000 shares of the company's stock after buying an additional 5,500 shares during the quarter. MongoDB makes up about 1.2% of Alight Capital Management LP's investment portfolio, making the stock its 24th largest holding. Alight Capital Management LP's holdings in MongoDB were worth $2,631,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in MongoDB by 6.6% in the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after purchasing an additional 481,023 shares during the period. Amundi boosted its holdings in MongoDB by 53.0% in the first quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after purchasing an additional 367,717 shares during the period. Primecap Management Co. CA boosted its holdings in MongoDB by 863.5% in the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after purchasing an additional 780,200 shares during the period. Westfield Capital Management Co. LP acquired a new position in MongoDB in the first quarter worth $128,706,000. Finally, American Century Companies Inc. boosted its holdings in MongoDB by 6.9% in the first quarter. American Century Companies Inc. now owns 732,463 shares of the company's stock worth $128,474,000 after purchasing an additional 47,567 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Trading Up 0.8%

MDB stock traded up $2.69 during trading on Friday, hitting $324.74. The company had a trading volume of 2,337,363 shares, compared to its average volume of 4,188,581. The firm has a market capitalization of $26.53 billion, a price-to-earnings ratio of -331.37 and a beta of 1.49. The business has a 50 day moving average of $234.03 and a 200 day moving average of $208.19. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last posted 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. MongoDB had a negative net margin of 3.54% and a negative return on equity of 1.67%. The business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter in the prior year, the company posted $0.51 earnings per share. The company's quarterly revenue was up 21.8% compared to the same quarter last year. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MDB shares. Scotiabank lifted their price objective on shares of MongoDB from $230.00 to $280.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 27th. William Blair reaffirmed an "outperform" rating on shares of MongoDB in a report on Thursday, June 26th. Cantor Fitzgerald lifted their price objective on shares of MongoDB from $271.00 to $312.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. JMP Securities reissued a "market outperform" rating and set a $345.00 price target on shares of MongoDB in a report on Wednesday, August 27th. Finally, Citigroup boosted their price target on shares of MongoDB from $405.00 to $425.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. One 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's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.86.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the sale, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Dev Ittycheria sold 33,320 shares of the business's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the sale, the chief executive officer owned 203,237 shares in the company, valued at approximately $61,233,275.73. The trade was a 14.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,730 shares of company stock valued at $15,966,159 in the last ninety days. 3.10% of the stock is owned by 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.