Alyeska Investment Group L.P. Increases Stock Position in MongoDB, Inc. $MDB

Key Points

• Alyeska Investment Group L.P. significantly increased its holdings in MongoDB, acquiring 450,336 additional shares, which raised their ownership by 425.6%, totaling 556,144 shares valued at approximately $97.5 million.
• Several analysts have updated their price targets for MongoDB, with one reducing it from $350 to $190, while others raised targets significantly, resulting in an average target of $310.86.
• Insider transactions have occurred, including CEO Dev Ittycheria selling 33,320 shares valued at over $10 million, which represents a 14.09% decrease in his ownership.

Alyeska Investment Group L.P. increased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 425.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 556,144 shares of the company's stock after acquiring an additional 450,336 shares during the period. Alyeska Investment Group L.P. owned approximately 0.69% of MongoDB worth $97,548,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDB. Primecap Management Co. CA increased its holdings in MongoDB by 863.5% during the 1st quarter. Primecap Management Co. CA now owns 870,550 shares of the company's stock worth $152,694,000 after acquiring an additional 780,200 shares during the period. Westfield Capital Management Co. LP bought a new stake in MongoDB during the 1st quarter worth approximately $128,706,000. Vanguard Group Inc. increased its holdings in MongoDB by 6.6% during the 1st quarter. Vanguard Group Inc. now owns 7,809,768 shares of the company's stock worth $1,369,833,000 after acquiring an additional 481,023 shares during the period. Deutsche Bank AG increased its holdings in MongoDB by 134.6% during the 1st quarter. Deutsche Bank AG now owns 690,774 shares of the company's stock worth $121,162,000 after acquiring an additional 396,311 shares during the period. Finally, Amundi increased its holdings in MongoDB by 53.0% during the 1st quarter. Amundi now owns 1,061,457 shares of the company's stock worth $173,378,000 after acquiring an additional 367,717 shares during the period. Institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Zacks Research raised shares of MongoDB to a "hold" rating in a report on Friday, August 8th. Stephens initiated coverage on shares of MongoDB in a research note on Friday, July 18th. They issued an "equal weight" rating and a $247.00 price target for the company. BMO Capital Markets raised their price objective on shares of MongoDB from $280.00 to $315.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Sanford C. Bernstein raised their price objective on shares of MongoDB from $319.00 to $338.00 and gave the company an "outperform" rating in a research report on Wednesday, August 27th. Finally, UBS Group raised their price objective on shares of MongoDB from $240.00 to $310.00 and gave the company a "neutral" rating in a research report on Wednesday, August 27th. One analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $310.86.

MongoDB Stock Up 0.8%

Shares of MongoDB stock traded up $2.69 during 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 52-week low of $140.78 and a 52-week high of $370.00. The company has a market cap of $26.53 billion, a price-to-earnings ratio of -331.37 and a beta of 1.49. The firm's 50-day moving average is $234.03 and its two-hundred day moving average is $208.19.

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

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction on Friday, July 25th. The shares were sold at an average price of $245.00, for a total transaction of $245,000.00. Following the completion of the sale, the director owned 1,104,316 shares of the company's stock, valued at $270,557,420. This represents a 0.09% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Charles M. Hazard, Jr. sold 166 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $310.00, for a total transaction of $51,460.00. Following the sale, the director directly owned 14,493 shares of the company's stock, valued at $4,492,830. The trade was a 1.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,730 shares of company stock worth $15,966,159 over the last 90 days. Company 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.