GF Fund Management CO. LTD. Buys Shares of 14,000 MongoDB, Inc. (NASDAQ:MDB)

GF Fund Management CO. LTD. acquired a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 14,000 shares of the company's stock, valued at approximately $3,259,000.

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

MongoDB Stock Down 2.9%

Shares of MDB traded down $5.52 during midday trading on Friday, reaching $183.84. 965,131 shares of the stock were exchanged, compared to its average volume of 1,932,898. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The company has a market cap of $14.93 billion, a P/E ratio of -66.97 and a beta of 1.49. The stock's 50 day simple moving average is $174.52 and its 200 day simple moving average is $234.21.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same quarter last year, the company posted $0.86 earnings per share. As a group, analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on MDB shares. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price objective for the company in a report on Thursday, April 17th. Scotiabank reissued a "sector perform" rating and issued a $160.00 price objective (down previously from $240.00) on shares of MongoDB in a research report on Friday, April 25th. Piper Sandler reduced their target price on shares of MongoDB from $280.00 to $200.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Needham & Company LLC lowered their price target on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Finally, The Goldman Sachs Group reduced their price objective on shares of MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $286.88.

Insider Activity at MongoDB

In related news, insider Cedric Pech sold 1,690 shares of the business's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the transaction, the insider now owns 57,634 shares of the company's stock, valued at $9,985,666.84. The trade was a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the sale, the chief executive officer now owns 268,948 shares in the company, valued at $46,597,930.48. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,203 shares of company stock worth $4,660,459. Company insiders own 3.60% of the company's stock.

MongoDB 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.