Entropy Technologies LP Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Entropy Technologies LP has purchased 5,116 shares of MongoDB, Inc. (NASDAQ: MDB) valued at approximately $897,000 in the first quarter.
• Several institutional investors, including OneDigital Investment Advisors and Fifth Third Bancorp, have increased their stakes in MongoDB, collectively signaling strong institutional interest in the company.
• MongoDB's average analyst rating is a "Moderate Buy" with an average price target of $281.31, despite varying price objectives from different analysts.

Entropy Technologies LP acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 5,116 shares of the company's stock, valued at approximately $897,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Cloud Capital Management LLC acquired a new position in MongoDB during the 1st quarter worth $25,000. Hollencrest Capital Management acquired a new position in MongoDB during the 1st quarter worth $26,000. Cullen Frost Bankers Inc. boosted its position in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock worth $28,000 after acquiring an additional 120 shares during the period. Strategic Investment Solutions Inc. IL acquired a new position in MongoDB during the 4th quarter worth $29,000. Finally, Coppell Advisory Solutions LLC boosted its position in MongoDB by 364.0% during the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock worth $54,000 after acquiring an additional 182 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Stock Performance

NASDAQ:MDB traded up $13.89 during trading hours on Friday, hitting $218.26. 2,155,406 shares of the company's stock traded hands, compared to its average volume of 2,398,931. The firm has a market cap of $17.83 billion, a P/E ratio of -191.46 and a beta of 1.44. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The stock's fifty day moving average price is $215.39 and its two-hundred day moving average price is $209.54.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.35. The firm had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB's quarterly revenue was up 21.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.51 earnings per share. On average, equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Activity at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $468,000.00. Following the transaction, the director directly owned 1,107,006 shares of the company's stock, valued at $259,039,404. This represents a 0.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 25,005 shares of the company's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total value of $5,851,170.00. Following the completion of the transaction, the chief executive officer directly owned 256,974 shares in the company, valued at approximately $60,131,916. The trade was a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 51,416 shares of company stock valued at $11,936,656. Company insiders own 3.10% of the company's stock.

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of analyst reports. Guggenheim reiterated a "buy" rating and set a $260.00 price target on shares of MongoDB in a research report on Thursday. Wedbush reiterated an "outperform" rating and set a $300.00 price target on shares of MongoDB in a research report on Thursday, June 5th. UBS Group boosted their price target on MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Monness Crespi & Hardt upgraded MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price target for the company in a research report on Thursday, June 5th. Finally, Rosenblatt Securities cut their price objective on MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a report on Thursday, June 5th. Ten research analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $281.31.

MongoDB Company 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.