Clear Street Group Inc. Purchases Shares of 13,573 MongoDB, Inc. $MDB

Key Points

• Clear Street Group acquired a new position of 13,573 shares of MongoDB in Q3, valued at approximately $4.213 million.
• MongoDB beat quarterly EPS estimates (reported $1.65 EPS vs $1.47 expected) and posted revenue of $695.07 million, up 26.8% year-over-year, but remains unprofitable with a negative net margin and analysts expect -1.78 EPS for the fiscal year.
• Analysts are mostly positive—MarketBeat shows a "Moderate Buy" consensus (26 Buys, 10 Holds, 1 Sell) with an average price target of $354.18—though major firms like Goldman Sachs and RBC recently lowered their targets.

Clear Street Group Inc. acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 13,573 shares of the company's stock, valued at approximately $4,213,000.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of MongoDB by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company's stock valued at $2,788,981,000 after buying an additional 431,382 shares during the last quarter. State Street Corp lifted its position in MongoDB by 5.0% in the second quarter. State Street Corp now owns 1,693,194 shares of the company's stock valued at $355,554,000 after acquiring an additional 80,334 shares during the last quarter. Amundi lifted its position in MongoDB by 61.3% in the third quarter. Amundi now owns 1,483,396 shares of the company's stock valued at $477,550,000 after acquiring an additional 563,995 shares during the last quarter. Geode Capital Management LLC boosted its stake in MongoDB by 5.2% in the second quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company's stock valued at $292,597,000 after acquiring an additional 68,611 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently commented on MDB. The Goldman Sachs Group cut their target price on MongoDB from $475.00 to $320.00 and set a "buy" rating on the stock in a research report on Wednesday, March 4th. Royal Bank Of Canada decreased their target price on MongoDB from $500.00 to $395.00 and set an "outperform" rating for the company in a research report on Tuesday, March 3rd. Robert W. Baird restated a "neutral" rating and set a $260.00 price target (down from $500.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Cantor Fitzgerald reduced their price objective on MongoDB from $454.00 to $378.00 and set an "overweight" rating for the company in a research note on Tuesday, March 3rd. Finally, Scotiabank upgraded shares of MongoDB from a "sector perform" rating to a "sector outperform" rating and raised their target price for the stock from $275.00 to $310.00 in a research report on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $354.18.

MongoDB Stock Down 0.1%

Shares of MDB stock opened at $260.50 on Friday. The stock has a market capitalization of $21.20 billion, a PE ratio of -296.02 and a beta of 1.40. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $444.72. The stock's 50-day moving average price is $354.08 and its 200 day moving average price is $353.70.

MongoDB (NASDAQ:MDB - Get Free Report) last posted 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. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The firm had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. During the same period in the prior year, the business earned $1.28 EPS. The firm's revenue was up 26.8% compared to the same quarter last year. Analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 1,190 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the sale, the director directly owned 80,462 shares of the company's stock, valued at $29,750,824.50. This trade represents a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the completion of the transaction, the director owned 25,659 shares in the company, valued at approximately $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 21,949 shares of company stock valued at $8,981,630 in the last 90 days. Company insiders own 3.10% of the company's stock.

MongoDB Company 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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