Greenhouse Funds LLLP Makes New Investment in MongoDB, Inc. $MDB

Key Points

• Greenhouse Funds LLLP has made a new investment of $18.23 million in MongoDB, acquiring 103,953 shares, which represents approximately 0.13% of the company.
• MongoDB's CEO, Dev Ittycheria, recently sold 33,320 shares for about $10 million, reducing his ownership by 14.09%.
• Analysts are bullish on MongoDB, with several upgrading their price targets, and a consensus rating of "Moderate Buy" with a target price of $310.86.

Greenhouse Funds LLLP bought a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 103,953 shares of the company's stock, valued at approximately $18,233,000. Greenhouse Funds LLLP owned about 0.13% of MongoDB at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Cloud Capital Management LLC purchased a new stake in shares of MongoDB during the 1st quarter worth approximately $25,000. Hollencrest Capital Management bought a new position in shares of MongoDB during the first quarter worth about $26,000. Cullen Frost Bankers Inc. raised its stake in MongoDB by 315.8% during the first 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. State of Wyoming acquired a new stake in shares of MongoDB in the first quarter valued at approximately $62,000. Finally, Brooklyn Investment Group increased its stake in shares of MongoDB by 247.9% in the first quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after purchasing an additional 290 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Activity at MongoDB

In other news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. This represents a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Dwight A. Merriman sold 1,000 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the completion of the transaction, the director owned 1,104,316 shares of the company's stock, valued at $270,557,420. The trade was a 0.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 58,730 shares of company stock valued at $15,966,159. Company insiders own 3.10% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently commented on MDB shares. Canaccord Genuity Group raised their price objective on shares of MongoDB from $320.00 to $340.00 and gave the stock a "buy" rating in a research note on Thursday, August 28th. William Blair reissued an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. BMO Capital Markets upped their price objective on shares of MongoDB from $280.00 to $315.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. Royal Bank Of Canada restated an "outperform" rating and issued a $350.00 price objective on shares of MongoDB in a report on Tuesday, September 2nd. Finally, DA Davidson raised their price objective on shares of MongoDB from $275.00 to $325.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have assigned a Hold rating to the company. According to data from MarketBeat, MongoDB has an average rating of "Moderate Buy" and an average target price of $310.86.

MongoDB Price Performance

Shares of MDB stock traded down $1.11 on Monday, hitting $323.63. The stock had a trading volume of 670,492 shares, compared to its average volume of 2,524,239. The business has a 50 day moving average of $234.03 and a 200 day moving average of $207.01. The stock has a market cap of $26.33 billion, a price-to-earnings ratio of -330.56 and a beta of 1.49. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00.

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.