Berkshire Capital Holdings Inc. Grows Stock Holdings in MongoDB, Inc. $MDB

Key Points

• Berkshire Capital Holdings dramatically increased its MongoDB stake in the fourth quarter, raising its position by 248,800% to 24,890 shares worth about $10.4 million.
• MongoDB reported a stronger-than-expected quarter, posting $1.65 EPS versus estimates of $1.47 and revenue of $695.1 million, up 26.8% from a year earlier.
• Despite the positive earnings and heavy institutional ownership, insiders have been selling shares, while analysts remain mostly constructive with an average rating of Moderate Buy and a mean price target of $373.37.

Berkshire Capital Holdings Inc. raised its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 248,800.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,890 shares of the company's stock after acquiring an additional 24,880 shares during the quarter. MongoDB makes up 3.5% of Berkshire Capital Holdings Inc.'s investment portfolio, making the stock its 12th largest position. Berkshire Capital Holdings Inc.'s holdings in MongoDB were worth $10,446,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Cramer Rosenthal Mcglynn LLC raised its holdings in shares of MongoDB by 897.7% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company's stock valued at $17,938,000 after purchasing an additional 52,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of MongoDB by 1,277.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company's stock valued at $5,655,000 after purchasing an additional 16,896 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of MongoDB by 42.1% during the third quarter. Penserra Capital Management LLC now owns 135,036 shares of the company's stock valued at $41,910,000 after purchasing an additional 39,978 shares during the last quarter. Pinegrove Venture Partners LLC purchased a new position in shares of MongoDB during the third quarter valued at approximately $1,032,000. Finally, Kinetic Partners Management LP raised its holdings in shares of MongoDB by 27.2% during the third quarter. Kinetic Partners Management LP now owns 195,769 shares of the company's stock valued at $60,763,000 after purchasing an additional 41,810 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Stock Up 2.7%

MDB stock opened at $326.13 on Friday. MongoDB, Inc. has a 52 week low of $182.43 and a 52 week high of $444.72. The company has a fifty day simple moving average of $268.23 and a two-hundred day simple moving average of $335.16. The firm has a market capitalization of $26.21 billion, a P/E ratio of -370.60 and a beta of 1.48.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. MongoDB's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business earned $1.28 earnings per share. As a group, analysts anticipate that MongoDB, Inc. will post -0.46 EPS for the current year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 6,000 shares of MongoDB stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $314.98, for a total transaction of $1,889,880.00. Following the completion of the sale, the director owned 470,896 shares in the company, valued at $148,322,822.08. This trade represents a 1.26% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director owned 24,093 shares of the company's stock, valued at $6,007,107.69. The trade was a 6.10% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 31,566 shares of company stock valued at $8,744,791 in the last quarter. 3.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

MDB has been the subject of several research reports. DA Davidson decreased their price objective on shares of MongoDB from $465.00 to $385.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Royal Bank Of Canada reissued an "outperform" rating and set a $395.00 price objective on shares of MongoDB in a report on Tuesday. Canaccord Genuity Group reduced their target price on shares of MongoDB from $455.00 to $375.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Rosenblatt Securities reaffirmed a "buy" rating and set a $425.00 target price on shares of MongoDB in a report on Monday, March 2nd. Finally, Robert W. Baird upped their target price on shares of MongoDB from $260.00 to $335.00 and gave the company a "neutral" rating in a report on Wednesday. Twenty-six analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $373.37.

About MongoDB

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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