Atreides Management LP Has $32.43 Million Stake in MongoDB, Inc. $MDB

Key Points

• Atreides Management LP reduced its stake in MongoDB, Inc. by 47.4%, now holding 184,907 shares valued at approximately $32.4 million.
• Other institutions have increased their holdings in MongoDB, with Lido Advisors lifting its stake by 74.8% and AQR Capital Management increasing by 92.1% in the last quarter.
• MongoDB reported a 21.8% increase in revenue year-over-year, with earnings per share of $1.00, surpassing analyst expectations.

Atreides Management LP lowered its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 47.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 184,907 shares of the company's stock after selling 166,952 shares during the quarter. MongoDB comprises about 1.0% of Atreides Management LP's portfolio, making the stock its 26th biggest holding. Atreides Management LP owned about 0.23% of MongoDB worth $32,433,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Maverick Capital Ltd. purchased a new position in MongoDB in the 1st quarter valued at $27,165,000. Alamar Capital Management LLC increased its position in MongoDB by 38.1% during the 1st quarter. Alamar Capital Management LLC now owns 18,810 shares of the company's stock worth $3,299,000 after purchasing an additional 5,185 shares in the last quarter. QVT Financial LP purchased a new stake in MongoDB during the 1st quarter worth about $277,000. Point72 Europe London LLP purchased a new stake in MongoDB in the 1st quarter valued at about $5,656,000. Finally, Armistice Capital LLC purchased a new stake in shares of MongoDB during the 1st quarter worth about $7,887,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 2,000 shares of the company'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 $468,000.00. Following the completion of the transaction, the director directly owned 1,107,006 shares of the company's stock, valued at $259,039,404. This represents a 0.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Dev Ittycheria sold 33,320 shares of the company's stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $301.29, for a total value of $10,038,982.80. Following the transaction, the chief executive officer directly owned 203,237 shares of the company's stock, valued at $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. Over the last ninety days, insiders sold 84,736 shares of company stock valued at $21,975,639. Company insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

MDB has been the topic of several recent research reports. 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. Guggenheim increased their price target on MongoDB from $260.00 to $310.00 and gave the stock a "buy" rating in a research note on Wednesday, August 27th. Canaccord Genuity Group upped their price objective on MongoDB from $320.00 to $340.00 and gave the company a "buy" rating in a report on Thursday, August 28th. Robert W. Baird upped their target price on MongoDB from $260.00 to $335.00 and gave the company an "outperform" rating in a report on Wednesday, August 27th. Finally, Loop Capital downgraded MongoDB from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $350.00 to $190.00 in a research note on Tuesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have given a Hold rating to the company's stock. According to MarketBeat.com, MongoDB presently has a consensus rating of "Moderate Buy" and an average target price of $310.86.

MongoDB Price Performance

Shares of NASDAQ MDB traded down $5.41 during midday trading on Wednesday, hitting $312.88. The stock had a trading volume of 2,965,687 shares, compared to its average volume of 4,028,832. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00. The company's 50-day simple moving average is $229.48 and its 200 day simple moving average is $207.78. The firm has a market cap of $25.57 billion, a P/E ratio of -319.27 and a beta of 1.49.

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. MongoDB had a negative return on equity of 1.67% and a negative net margin of 3.54%.The business had revenue of $549.01 million during the quarter, compared to analysts' expectations of $527.49 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The firm's quarterly revenue was up 21.8% compared to the same quarter last year. Equities analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

MongoDB Company 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.