Greenhouse Funds LLLP Makes New $18.23 Million 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 acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 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 quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. HMI Capital Management L.P. bought a new stake in MongoDB during the 1st quarter worth about $13,909,000. Curi RMB Capital LLC raised its position in shares of MongoDB by 9.3% in the 1st quarter. Curi RMB Capital LLC now owns 35,977 shares of the company's stock valued at $6,310,000 after acquiring an additional 3,076 shares during the period. Brandywine Managers LLC raised its position in shares of MongoDB by 22.5% in the 1st quarter. Brandywine Managers LLC now owns 3,501 shares of the company's stock valued at $614,000 after acquiring an additional 642 shares during the period. Banque Transatlantique SA acquired a new stake in shares of MongoDB in the 1st quarter valued at approximately $452,000. Finally, AQR Capital Management LLC raised its position in shares of MongoDB by 12.3% in the 1st quarter. AQR Capital Management LLC now owns 41,678 shares of the company's stock valued at $7,198,000 after acquiring an additional 4,552 shares during the period. 89.29% of the stock is owned by institutional investors.

Insider Transactions at MongoDB

In other news, CEO Dev Ittycheria sold 33,320 shares of MongoDB stock in a transaction on Thursday, August 28th. The stock was sold at an average price of $301.29, for a total transaction of $10,038,982.80. Following the completion of the sale, the chief executive officer owned 203,237 shares of the company's stock, valued at approximately $61,233,275.73. This trade represents a 14.09% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of MongoDB stock in a transaction 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 sale, the director directly owned 1,104,316 shares of the company's stock, valued at $270,557,420. This represents a 0.09% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 57,731 shares of company stock valued at $15,656,469. 3.10% of the stock is currently owned by corporate insiders.

MongoDB Price Performance

Shares of MongoDB stock opened at $312.88 on Thursday. The business has a fifty day simple moving average of $229.48 and a two-hundred day simple moving average of $207.78. 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 $25.57 billion, a price-to-earnings ratio of -319.27 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The business had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter last year, the firm posted $0.51 EPS. The company's quarterly revenue was up 21.8% on a year-over-year basis. As a group, equities analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on MDB shares. Bank of America increased their target price on MongoDB from $275.00 to $345.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Rosenblatt Securities reaffirmed a "buy" rating and set a $290.00 price target on shares of MongoDB in a research note on Friday, August 22nd. Robert W. Baird raised their price target on shares of MongoDB from $260.00 to $335.00 and gave the stock an "outperform" rating in a research note on Wednesday, August 27th. William Blair reaffirmed an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. Finally, Wedbush reaffirmed an "outperform" rating and set a $300.00 price target on shares of MongoDB in a research note on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $310.86.

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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