Glynn Capital Management LLC Raises Holdings in MongoDB, Inc. (NASDAQ:MDB)

Key Points

• Glynn Capital Management LLC increased its stake in MongoDB, Inc. by 13.9%, now holding 96,719 shares valued at approximately $16.97 million.
• MongoDB reported a quarterly revenue of $549.01 million, exceeding analyst expectations and demonstrating a year-over-year growth of 21.8%.
• Research analysts have set a consensus target price of $281.35 for MongoDB, with the majority rating the stock as a "Moderate Buy."

Glynn Capital Management LLC boosted its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 13.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 96,719 shares of the company's stock after buying an additional 11,839 shares during the period. MongoDB makes up approximately 4.5% of Glynn Capital Management LLC's investment portfolio, making the stock its 12th largest holding. Glynn Capital Management LLC owned 0.12% of MongoDB worth $16,965,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. Assetmark Inc. boosted its position in MongoDB by 13.6% in the first quarter. Assetmark Inc. now owns 28,703 shares of the company's stock valued at $5,035,000 after buying an additional 3,436 shares during the last quarter. Cetera Investment Advisers lifted its holdings in MongoDB by 35.7% in the first quarter. Cetera Investment Advisers now owns 19,424 shares of the company's stock valued at $3,407,000 after acquiring an additional 5,108 shares during the period. ANTIPODES PARTNERS Ltd acquired a new position in MongoDB in the first quarter valued at approximately $214,000. Wedbush Securities Inc. lifted its holdings in MongoDB by 2.6% in the first quarter. Wedbush Securities Inc. now owns 3,022 shares of the company's stock valued at $530,000 after acquiring an additional 77 shares during the period. Finally, KLP Kapitalforvaltning AS lifted its holdings in MongoDB by 2.9% in the first quarter. KLP Kapitalforvaltning AS now owns 24,800 shares of the company's stock valued at $4,350,000 after acquiring an additional 700 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

MongoDB Stock Performance

Shares of NASDAQ MDB opened at $235.16 on Friday. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The firm has a market capitalization of $19.21 billion, a PE ratio of -206.28 and a beta of 1.41. The stock's 50-day simple moving average is $205.47 and its 200-day simple moving average is $212.72.

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

Insider Buying and Selling

In other MongoDB news, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the transaction, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 2,000 shares of MongoDB stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the transaction, the director owned 1,107,006 shares in the company, valued at $259,039,404. This trade represents a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 33,746 shares of company stock worth $7,725,196 in the last quarter. 3.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Barclays upped their target price on MongoDB from $252.00 to $270.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. JMP Securities reaffirmed a "market outperform" rating and set a $345.00 target price on shares of MongoDB in a research note on Thursday, June 5th. William Blair reaffirmed an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Scotiabank upped their target price on MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a research note on Thursday, June 5th. Finally, Monness Crespi & Hardt raised MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 target price for the company in a research note on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, MongoDB has an average rating of "Moderate Buy" and a consensus target price of $281.35.

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.

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