MongoDB, Inc. $MDB Shares Purchased by Insight Holdings Group LLC

Key Points

• Insight Holdings Group LLC increased its investment in MongoDB, Inc. by 129.4% during the first quarter, acquiring an additional 14,100 shares, resulting in a total of 25,000 shares valued at approximately $4.39 million.
• Several other institutional investors have also made significant changes to their positions, with 89.29% of MongoDB's stock now owned by institutional investors and hedge funds.
• MongoDB reported strong quarterly earnings, with $1.00 EPS exceeding analysts' expectations and a revenue of $549.01 million, representing a 21.8% year-over-year increase.

Insight Holdings Group LLC raised its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 129.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,000 shares of the company's stock after acquiring an additional 14,100 shares during the quarter. MongoDB accounts for about 0.3% of Insight Holdings Group LLC's investment portfolio, making the stock its 19th largest holding. Insight Holdings Group LLC's holdings in MongoDB were worth $4,385,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Cloud Capital Management LLC bought a new position in MongoDB during the first quarter worth $25,000. Hollencrest Capital Management bought a new position in MongoDB during the first quarter worth $26,000. Cullen Frost Bankers Inc. lifted its stake in 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 last quarter. State of Wyoming bought a new position in MongoDB during the first quarter worth $62,000. Finally, Brooklyn Investment Group lifted its stake in MongoDB by 247.9% in the first quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after buying an additional 290 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 MongoDB stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dev Ittycheria sold 33,320 shares of MongoDB stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $301.29, for a total value of $10,038,982.80. Following the sale, the chief executive officer owned 203,237 shares of the company's stock, valued at approximately $61,233,275.73. This represents a 14.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 58,730 shares of company stock valued at $15,966,159 in the last quarter. Corporate insiders own 3.10% of the company's stock.

MongoDB Trading Up 2.9%

Shares of NASDAQ MDB opened at $322.05 on Friday. MongoDB, Inc. has a one year low of $140.78 and a one year high of $370.00. The firm has a market capitalization of $26.31 billion, a PE ratio of -328.62 and a beta of 1.49. The business has a 50-day moving average price of $231.73 and a two-hundred day moving average price of $208.01.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. The firm had revenue of $549.01 million during the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The business's quarterly revenue was up 21.8% compared to the same quarter last year. During the same period last year, the company posted $0.51 EPS. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on MDB. Scotiabank lifted their price objective on shares of MongoDB from $230.00 to $280.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 27th. Needham & Company LLC lifted their price objective on shares of MongoDB from $270.00 to $325.00 and gave the company a "buy" rating in a research note on Wednesday, August 27th. Bank of America lifted their target price on MongoDB from $275.00 to $345.00 and gave the stock a "buy" rating in a report on Wednesday, August 27th. Wolfe Research lifted their target price on MongoDB from $280.00 to $350.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Finally, Stephens began coverage on MongoDB in a report on Friday, July 18th. They set an "equal weight" rating and a $247.00 target price on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-seven have given a Buy rating and ten have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $310.86.

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.

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