Aquatic Capital Management LLC Sells 97,883 Shares of MongoDB, Inc. $MDB

Key Points

• Aquatic Capital Management LLC sold 97,883 shares of MongoDB in Q3, cutting its stake by 64.5% to 53,813 shares (about 0.07% of the company) worth roughly $16.7 million.
• Several analysts trimmed price targets (e.g., BMO, Barclays, Truist, Wedbush), but the consensus remains a “Moderate Buy” with an average price target of $354.18.
• MongoDB topped quarterly estimates with EPS $1.65 vs. $1.47 and revenue $695.1M vs. $669.4M (revenue +26.8% YoY), though the company still reports negative net margin and return on equity.

Aquatic Capital Management LLC reduced its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 64.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,813 shares of the company's stock after selling 97,883 shares during the quarter. Aquatic Capital Management LLC owned approximately 0.07% of MongoDB worth $16,702,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Huntington National Bank grew its stake in MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company's stock valued at $30,000 after purchasing an additional 51 shares during the last quarter. Promus Capital LLC purchased a new stake in shares of MongoDB during the second quarter valued at about $36,000. TD Private Client Wealth LLC boosted its holdings in shares of MongoDB by 2,825.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock valued at $36,000 after buying an additional 113 shares in the last quarter. Hollencrest Capital Management bought a new stake in shares of MongoDB in the 3rd quarter valued at about $37,000. Finally, Westside Investment Management Inc. grew its position in shares of MongoDB by 82.1% in the 3rd quarter. Westside Investment Management Inc. now owns 122 shares of the company's stock worth $39,000 after buying an additional 55 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on MDB shares. BMO Capital Markets reissued an "outperform" rating and set a $340.00 target price (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Barclays cut their price target on shares of MongoDB from $440.00 to $370.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Truist Financial decreased their price objective on MongoDB from $500.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Bank of America reissued a "buy" rating on shares of MongoDB in a research report on Tuesday, March 3rd. Finally, Wedbush dropped their target price on MongoDB from $440.00 to $380.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $354.18.

MongoDB Trading Down 0.1%

NASDAQ MDB opened at $260.50 on Friday. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $444.72. The company has a fifty day simple moving average of $354.08 and a two-hundred day simple moving average of $353.70. The stock has a market cap of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm's revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.28 EPS. As a group, sell-side analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity

In other news, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the transaction, the director directly owned 25,659 shares of the company's stock, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 1,190 shares of the firm's stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the transaction, the director owned 80,462 shares of the company's stock, valued at approximately $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 21,949 shares of company stock worth $8,981,630. Company insiders own 3.10% of the company's stock.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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