Lecap Asset Management Ltd. Acquires New Stake in MongoDB, Inc. $MDB

Key Points

• Lecap Asset Management Ltd. has acquired a new stake in MongoDB, Inc., purchasing 9,376 shares valued at approximately $1.97 million, making it the 29th largest holding in their portfolio.
• Institutional investors now own 89.29% of MongoDB's stock, with notable increases from firms like GAMMA Investing LLC, which boosted its stake by 19,491.2% this quarter.
• Recent analyst reports show an optimistic outlook for MongoDB, with several firms raising their price targets, including BMO Capital Markets increasing theirs from $315 to $365.

Lecap Asset Management Ltd. acquired a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 9,376 shares of the company's stock, valued at approximately $1,969,000. MongoDB comprises approximately 0.7% of Lecap Asset Management Ltd.'s investment portfolio, making the stock its 29th biggest holding.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Two Sigma Investments LP acquired a new stake in MongoDB during the fourth quarter worth about $768,000. Versant Capital Management Inc increased its position in MongoDB by 237.2% during the first quarter. Versant Capital Management Inc now owns 607 shares of the company's stock worth $106,000 after purchasing an additional 427 shares during the last quarter. GAMMA Investing LLC increased its position in MongoDB by 19,491.2% during the first quarter. GAMMA Investing LLC now owns 33,501 shares of the company's stock worth $5,876,000 after purchasing an additional 33,330 shares during the last quarter. Rhumbline Advisers increased its position in MongoDB by 0.4% during the first quarter. Rhumbline Advisers now owns 97,481 shares of the company's stock worth $17,098,000 after purchasing an additional 343 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in MongoDB by 10.9% during the first quarter. Fulton Bank N.A. now owns 1,356 shares of the company's stock worth $238,000 after purchasing an additional 133 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Price Performance

NASDAQ MDB opened at $321.53 on Thursday. The stock has a 50-day moving average of $273.70 and a two-hundred day moving average of $218.70. The company has a market cap of $26.16 billion, a P/E ratio of -328.09 and a beta of 1.50. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00.

Insiders Place Their Bets

In related news, CAO Thomas Bull sold 1,000 shares of the business's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $326.25, for a total transaction of $326,250.00. Following the completion of the sale, the chief accounting officer owned 11,598 shares in the company, valued at $3,783,847.50. The trade was a 7.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $327.93, for a total value of $384,989.82. Following the sale, the director owned 24,308 shares of the company's stock, valued at approximately $7,971,322.44. The trade was a 4.61% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 106,163 shares of company stock worth $31,862,322. Corporate insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on MDB. BMO Capital Markets raised their price objective on shares of MongoDB from $315.00 to $365.00 and gave the stock an "outperform" rating in a research report on Thursday, September 18th. Rosenblatt Securities reissued a "buy" rating and set a $290.00 price objective on shares of MongoDB in a research report on Friday, August 22nd. William Blair reissued an "outperform" rating on shares of MongoDB in a research report on Thursday, June 26th. Piper Sandler raised their price objective on MongoDB from $345.00 to $400.00 and gave the stock an "overweight" rating in a research report on Thursday, September 18th. Finally, Royal Bank Of Canada reissued an "outperform" rating and set a $350.00 price objective on shares of MongoDB in a research report on Thursday, September 18th. One analyst has rated the stock with a Strong Buy rating, twenty-eight have given a Buy rating and nine have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $342.69.

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.

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