Infinitum Asset Management LLC Grows Stock Holdings in MongoDB, Inc. $MDB

Key Points

• Infinitum Asset Management LLC increased its stake in MongoDB, Inc. by 71.4%, owning 60,000 shares valued at approximately $10.52 million, making it the 9th largest holding in their portfolio.
• Several analysts have recently upgraded their ratings and price targets for MongoDB, with DA Davidson setting a new target at $325.00, indicating widespread positive sentiment among financial analysts.
• In the latest earnings report, MongoDB reported $549.01 million in revenue, exceeding analyst expectations and showing a 21.8% increase year-over-year, despite posting a negative net margin.

Infinitum Asset Management LLC grew its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 71.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 60,000 shares of the company's stock after purchasing an additional 25,000 shares during the period. MongoDB makes up about 3.4% of Infinitum Asset Management LLC's holdings, making the stock its 9th largest holding. Infinitum Asset Management LLC owned about 0.07% of MongoDB worth $10,524,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in MongoDB by 6.6% in the first quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock valued at $1,369,833,000 after buying an additional 481,023 shares in the last quarter. Amundi increased its position in shares of MongoDB by 53.0% during the first quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after purchasing an additional 367,717 shares in the last quarter. Jericho Capital Asset Management L.P. acquired a new stake in shares of MongoDB during the first quarter worth about $161,543,000. Primecap Management Co. CA grew its holdings in shares of MongoDB by 863.5% during the first quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after buying an additional 780,200 shares during the last quarter. Finally, Westfield Capital Management Co. LP acquired a new position in shares of MongoDB in the first quarter valued at approximately $128,706,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction 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 completion of the sale, the director owned 21,096 shares in the company, valued at $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Charles M. Hazard, Jr. sold 833 shares of the company's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $310.00, for a total transaction of $258,230.00. Following the completion of the transaction, the director directly owned 47,366 shares in the company, valued at $14,683,460. This trade represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 58,730 shares of company stock valued at $15,966,159. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of analyst reports. Guggenheim lifted their price objective on MongoDB from $260.00 to $310.00 and gave the company a "buy" rating in a report on Wednesday, August 27th. Needham & Company LLC increased their target price on MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Oppenheimer raised their price objective on MongoDB from $275.00 to $325.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Piper Sandler lifted their target price on MongoDB from $275.00 to $345.00 and gave the stock an "overweight" rating in a research report on Wednesday, August 27th. Finally, Robert W. Baird lifted their target price on MongoDB from $260.00 to $335.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. One investment analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $310.86.

MongoDB Stock Performance

MDB stock traded up $7.80 during midday trading on Tuesday, reaching $331.09. The company had a trading volume of 2,059,181 shares, compared to its average volume of 4,006,377. The stock has a 50 day moving average price of $238.80 and a 200 day moving average price of $208.22. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00.

MongoDB Company 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.