Danica Pension Livsforsikringsaktieselskab Acquires New Shares in MongoDB, Inc. $MDB

Key Points

• Danica Pension acquired 255,189 new shares of MongoDB in Q4 — about $107.1 million — making the position 1.5% of its portfolio and the firm's 22nd largest holding (representing ~0.31% of MongoDB).
• Multiple large institutions (including ValueAct, AQR, Jericho, Arrowstreet and MFS) materially increased their MDB stakes, leaving institutional investors with roughly 89.29% ownership of the stock.
• MongoDB recently reported a quarter beat (EPS $1.65 vs. $1.47 and revenue $695.1M, +26.8% YoY) but still has negative margins; analysts have trimmed price targets while the consensus remains a Moderate Buy with an average target of $361.97.

Danica Pension Livsforsikringsaktieselskab acquired a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 255,189 shares of the company's stock, valued at approximately $107,100,000. MongoDB makes up 1.5% of Danica Pension Livsforsikringsaktieselskab's investment portfolio, making the stock its 22nd largest position. Danica Pension Livsforsikringsaktieselskab owned about 0.31% of MongoDB as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of MDB. ValueAct Holdings L.P. increased its stake in MongoDB by 206.8% in the 3rd quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock valued at $657,447,000 after purchasing an additional 1,427,700 shares in the last quarter. AQR Capital Management LLC increased its stake in MongoDB by 2,567.2% in the 2nd quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock valued at $233,435,000 after purchasing an additional 1,069,969 shares in the last quarter. Jericho Capital Asset Management L.P. increased its stake in MongoDB by 162.1% in the 3rd quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company's stock valued at $427,871,000 after purchasing an additional 852,540 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in MongoDB by 162.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company's stock valued at $340,505,000 after purchasing an additional 678,746 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in MongoDB by 611.3% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company's stock valued at $300,120,000 after purchasing an additional 614,559 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

MongoDB stock opened at $250.83 on Friday. The stock has a fifty day moving average of $264.86 and a two-hundred day moving average of $337.46. The company has a market capitalization of $20.16 billion, a price-to-earnings ratio of -285.03 and a beta of 1.60. MongoDB, Inc. has a fifty-two week low of $169.26 and a fifty-two week high of $444.72.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on MDB shares. Needham & Company LLC dropped their price objective on MongoDB from $500.00 to $300.00 and set a "buy" rating for the company in a research note on Tuesday, March 3rd. Canaccord Genuity Group dropped their price target on MongoDB from $455.00 to $375.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. BMO Capital Markets reissued an "outperform" rating and set a $340.00 price target (down from $400.00) on shares of MongoDB in a research report on Tuesday, March 3rd. Rosenblatt Securities reissued a "buy" rating and set a $425.00 price target on shares of MongoDB in a research report on Monday, March 2nd. Finally, Monness Crespi & Hardt dropped their price target on MongoDB from $475.00 to $370.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $361.97.

Insider Transactions at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the sale, the director owned 24,093 shares in the company, valued at $6,007,107.69. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 4,000 shares of MongoDB stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $252.33, for a total value of $1,009,320.00. Following the completion of the sale, the director owned 476,896 shares of the company's stock, valued at $120,335,167.68. This trade represents a 0.83% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 14,756 shares of company stock worth $3,734,893. 3.10% of the stock is owned by corporate insiders.

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.

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.