Massachusetts Financial Services Co. MA Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Massachusetts Financial Services Co. MA acquired a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 81,961 shares of the company's stock, valued at approximately $14,376,000. Massachusetts Financial Services Co. MA owned 0.10% of MongoDB as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of MDB. Norges Bank acquired a new position in shares of MongoDB during the 4th quarter worth approximately $189,584,000. Marshall Wace LLP acquired a new position in MongoDB in the fourth quarter valued at approximately $110,356,000. D1 Capital Partners L.P. acquired a new position in MongoDB in the fourth quarter valued at approximately $76,129,000. Franklin Resources Inc. lifted its holdings in MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after acquiring an additional 181,962 shares during the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in MongoDB by 69.1% in the fourth quarter. Pictet Asset Management Holding SA now owns 356,964 shares of the company's stock valued at $83,105,000 after acquiring an additional 145,854 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Transactions at MongoDB

In other news, Director Hope F. Cochran sold 1,174 shares of the business'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 transaction, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Dev Ittycheria sold 25,005 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the transaction, the chief executive officer owned 256,974 shares in the company, valued at $60,131,916. This represents a 8.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 32,746 shares of company stock worth $7,500,196 in the last ninety days. Insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on MDB. Needham & Company LLC reiterated a "buy" rating and issued a $270.00 price objective on shares of MongoDB in a research note on Thursday, June 5th. Macquarie reaffirmed a "neutral" rating and set a $230.00 price objective (up previously from $215.00) on shares of MongoDB in a report on Friday, June 6th. UBS Group increased their target price on shares of MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a research note on Thursday, June 5th. Mizuho decreased their target price on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Finally, DA Davidson restated a "buy" rating and issued a $275.00 price objective on shares of MongoDB in a research report on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of "Moderate Buy" and an average price target of $281.35.

MongoDB Stock Up 1.8%

MDB traded up $3.96 during trading on Wednesday, hitting $228.25. The company had a trading volume of 1,499,008 shares, compared to its average volume of 1,991,135. The company has a market capitalization of $18.65 billion, a PE ratio of -200.22 and a beta of 1.41. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The firm's 50-day moving average price is $204.58 and its 200 day moving average price is $212.84.

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

MongoDB 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.