Maverick Capital Ltd. Takes $27.17 Million Position in MongoDB, Inc. $MDB

Key Points

• Maverick Capital Ltd. invested approximately $27.17 million in MongoDB, Inc. (NASDAQ:MDB), acquiring 154,872 shares during the first quarter.
• Insiders at MongoDB have sold a total of 51,416 shares worth nearly $11.94 million over the last 90 days, indicating some profit-taking by company directors.
• MongoDB reported a quarterly revenue of $549.01 million, which exceeded analysts' expectations and reflected a 21.8% year-over-year growth.

Maverick Capital Ltd. bought a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 154,872 shares of the company's stock, valued at approximately $27,165,000. Maverick Capital Ltd. owned approximately 0.19% of MongoDB as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Cloud Capital Management LLC acquired a new stake in shares of MongoDB during the first quarter worth about $25,000. Hollencrest Capital Management acquired a new stake in shares of MongoDB during the first quarter worth about $26,000. Cullen Frost Bankers Inc. raised its position in shares of 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 purchasing an additional 120 shares during the period. State of Wyoming acquired a new stake in shares of MongoDB during the first quarter worth about $62,000. Finally, Brooklyn Investment Group raised its position in shares of MongoDB by 247.9% during the first quarter. Brooklyn Investment Group now owns 407 shares of the company's stock worth $71,000 after purchasing an additional 290 shares during the period. Institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MDB shares. Stifel Nicolaus raised their price target on MongoDB from $275.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Wedbush reissued an "outperform" rating and issued a $300.00 target price on shares of MongoDB in a research report on Wednesday, August 27th. Wolfe Research boosted their price target on MongoDB from $280.00 to $350.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. Needham & Company LLC boosted their price target on MongoDB from $270.00 to $325.00 and gave the stock a "buy" rating in a research report on Wednesday, August 27th. Finally, BMO Capital Markets boosted their price target on MongoDB from $280.00 to $315.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have issued a Buy rating and ten have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $310.86.

MongoDB Stock Up 0.8%

Shares of NASDAQ MDB traded up $2.69 during midday trading on Friday, hitting $324.74. 2,337,363 shares of the company's stock were exchanged, compared to its average volume of 4,188,581. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $370.00. The company's 50 day moving average price is $234.03 and its 200 day moving average price is $208.19. The firm has a market capitalization of $26.53 billion, a PE ratio of -331.37 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its 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. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The firm's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same period in the previous year, the company posted $0.51 EPS. On average, equities research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 1,000 shares of the business's 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 completion of the sale, the director directly owned 1,104,316 shares in the company, valued at $270,557,420. The trade was a 0.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Charles M. Hazard, Jr. sold 166 shares of the business's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $310.00, for a total value of $51,460.00. Following the completion of the sale, the director owned 14,493 shares of the company's stock, valued at $4,492,830. This trade represents a 1.13% 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. Company insiders own 3.10% of the company's stock.

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.