Armistice Capital LLC Takes Position in MongoDB, Inc. $MDB

Key Points

• Armistice Capital LLC acquired approximately 44,965 shares in MongoDB, Inc., with a total value of about $7.9 million, representing 0.06% of the company's stock as of the latest SEC filing.
• MongoDB reported a 21.8% increase in quarterly revenue year-over-year, achieving $549.01 million, along with an EPS of $1.00, surpassing analysts' expectations.
• Insiders, including Director Dwight Merriman and CEO Dev Ittycheria, sold a combined total of 51,416 shares of MongoDB stock for nearly $11.9 million over the last quarter.

Armistice Capital LLC purchased a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 44,965 shares of the company's stock, valued at approximately $7,887,000. Armistice Capital LLC owned 0.06% of MongoDB as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Vident Advisory LLC lifted its stake in shares of MongoDB by 25.9% in the 1st quarter. Vident Advisory LLC now owns 2,330 shares of the company's stock valued at $409,000 after acquiring an additional 479 shares during the last quarter. Kodai Capital Management LP lifted its stake in shares of MongoDB by 50.6% in the first quarter. Kodai Capital Management LP now owns 227,736 shares of the company's stock worth $39,945,000 after acquiring an additional 76,524 shares during the period. Canada Pension Plan Investment Board grew its holdings in MongoDB by 46.4% during the 1st quarter. Canada Pension Plan Investment Board now owns 666,209 shares of the company's stock worth $116,853,000 after acquiring an additional 211,023 shares during the period. Siren L.L.C. acquired a new stake in MongoDB during the 1st quarter worth about $965,000. Finally, State of Wyoming acquired a new stake in MongoDB during the 1st quarter worth about $62,000. Institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent analyst reports. UBS Group boosted their price target on MongoDB from $240.00 to $310.00 and gave the company a "neutral" rating in a research note on Wednesday, August 27th. BMO Capital Markets boosted their price target on MongoDB from $280.00 to $315.00 and gave the company an "outperform" rating in a research note on Wednesday, August 27th. Monness Crespi & Hardt boosted their price target on MongoDB from $295.00 to $360.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Loop Capital lowered MongoDB from a "buy" rating to a "hold" rating and dropped their price target for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. Finally, The Goldman Sachs Group upped their target price on MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $310.86.

MongoDB Stock Up 0.6%

MDB traded up $1.82 during trading hours on Friday, hitting $323.87. The stock had a trading volume of 1,569,548 shares, compared to its average volume of 2,530,406. The company's fifty day simple moving average is $231.73 and its 200 day simple moving average is $208.01. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The stock has a market cap of $26.46 billion, a PE ratio of -330.07 and a beta of 1.49.

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. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The company had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter last year, the firm posted $0.51 EPS. The firm's revenue for the quarter was up 21.8% on a year-over-year basis. As a group, equities analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 33,320 shares of the firm'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 completion of the transaction, the chief executive officer owned 203,237 shares in the company, valued at $61,233,275.73. This trade represents a 14.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Charles M. Hazard, Jr. sold 833 shares of the firm's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total value of $258,230.00. Following the completion of the transaction, the director owned 47,366 shares of the company's stock, valued at approximately $14,683,460. This represents a 1.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 58,730 shares of company stock worth $15,966,159 in the last 90 days. 3.10% of the stock is owned by company 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.