GAMMA Investing LLC Acquires 33,330 Shares of MongoDB, Inc. (NASDAQ:MDB)

GAMMA Investing LLC boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 19,491.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,501 shares of the company's stock after purchasing an additional 33,330 shares during the quarter. GAMMA Investing LLC's holdings in MongoDB were worth $5,876,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of MongoDB by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock worth $1,706,205,000 after buying an additional 23,942 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of MongoDB by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after buying an additional 22,106 shares during the period. First Trust Advisors LP increased its stake in shares of MongoDB by 12.6% in the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock worth $199,031,000 after purchasing an additional 95,893 shares in the last quarter. Finally, Norges Bank bought a new stake in MongoDB during the 4th quarter valued at $189,584,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Activity at MongoDB

In other MongoDB news, insider Cedric Pech sold 1,690 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the sale, the insider now directly owns 57,634 shares of the company's stock, valued at approximately $9,985,666.84. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Hope F. Cochran sold 1,175 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total value of $205,260.75. Following the completion of the sale, the director now directly owns 19,333 shares in the company, valued at approximately $3,377,281.77. This represents a 5.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,208 shares of company stock worth $10,167,739 over the last 90 days. 3.10% of the stock is owned by company insiders.

MongoDB Price Performance

Shares of NASDAQ:MDB traded down $4.20 on Tuesday, hitting $213.03. The company's stock had a trading volume of 2,509,522 shares, compared to its average volume of 1,956,531. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The company has a market capitalization of $17.30 billion, a PE ratio of -77.75 and a beta of 1.39. The company has a 50-day simple moving average of $177.26 and a 200 day simple moving average of $228.16.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. During the same quarter in the prior year, the firm earned $0.51 earnings per share. MongoDB's revenue for the quarter was up 21.8% on a year-over-year basis. On average, equities research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Oppenheimer cut their price objective on MongoDB from $400.00 to $330.00 and set an "outperform" rating for the company in a report on Thursday, March 6th. Morgan Stanley reduced their price target on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 16th. Daiwa Capital Markets began coverage on shares of MongoDB in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 price target for the company. Rosenblatt Securities lowered their price target on MongoDB from $305.00 to $290.00 and set a "buy" rating on the stock in a report on Thursday, June 5th. Finally, Loop Capital cut MongoDB from a "buy" rating to a "hold" rating and dropped their target price for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Eight investment analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $282.47.

About MongoDB

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.