Alamar Capital Management LLC Has $3.30 Million Position in MongoDB, Inc. $MDB

Key Points

• Alamar Capital Management LLC increased its stake in MongoDB by 38.1%, now holding 18,810 shares valued at approximately $3,299,000, making it the firm's 23rd largest holding.
• Analysts have raised their price targets for MongoDB, with a consensus target of $310.86 and recommendations ranging from "Buy" to "Hold" across various investment firms.
• MongoDB reported a quarterly revenue of $549.01 million, exceeding expectations, and posted an earnings per share (EPS) of $1.00, beating the consensus estimate by $0.35.

Alamar Capital Management LLC lifted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 38.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,810 shares of the company's stock after purchasing an additional 5,185 shares during the quarter. MongoDB accounts for about 1.9% of Alamar Capital Management LLC's portfolio, making the stock its 23rd biggest position. Alamar Capital Management LLC's holdings in MongoDB were worth $3,299,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cloud Capital Management LLC bought a new position in shares of MongoDB during the first quarter worth about $25,000. Hollencrest Capital Management bought a new position in shares of MongoDB during the first quarter worth about $26,000. Cullen Frost Bankers Inc. grew its holdings 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 buying an additional 120 shares in the last quarter. State of Wyoming bought a new position in shares of MongoDB during the first quarter worth about $62,000. Finally, Brooklyn Investment Group grew its holdings 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 buying an additional 290 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Barclays increased their price objective on MongoDB from $270.00 to $305.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Guggenheim increased their price objective on MongoDB from $260.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. BMO Capital Markets increased their price objective on MongoDB from $280.00 to $315.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Bank of America increased their price objective on MongoDB from $275.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Finally, William Blair restated an "outperform" rating on shares of MongoDB in a research note on Thursday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $310.86.

MongoDB Trading Up 0.8%

Shares of MDB traded up $2.69 during mid-day trading on Friday, reaching $324.74. The company's stock had a trading volume of 2,337,363 shares, compared to its average volume of 4,188,581. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The stock has a market cap of $26.53 billion, a P/E ratio of -331.37 and a beta of 1.49. The business has a 50-day simple moving average of $234.03 and a two-hundred day simple moving average of $208.19.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 company had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same period last year, the firm posted $0.51 earnings per share. The business's revenue was up 21.8% on a year-over-year basis. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction that occurred 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 directly owned 21,096 shares of the company's stock, valued at $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Charles M. Hazard, Jr. sold 166 shares of the firm's stock in a transaction that occurred 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 directly owned 14,493 shares of the company's stock, valued at approximately $4,492,830. The trade was a 1.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,730 shares of company stock valued at $15,966,159. Corporate insiders own 3.10% of the company's stock.

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.