MongoDB, Inc. $MDB Stake Raised by M&T Bank Corp

M&T Bank Corp grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 12,467.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 323,744 shares of the company's stock after buying an additional 321,168 shares during the period. M&T Bank Corp owned 0.40% of MongoDB worth $135,872,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. ValueAct Holdings L.P. boosted its holdings in shares of MongoDB by 206.8% in the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company's stock valued at $657,447,000 after acquiring an additional 1,427,700 shares in the last quarter. AQR Capital Management LLC lifted its position in MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company's stock worth $233,435,000 after purchasing an additional 1,069,969 shares during the period. Jericho Capital Asset Management L.P. lifted its position in MongoDB by 162.1% in the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company's stock worth $427,871,000 after purchasing an additional 852,540 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in MongoDB by 162.3% in the third quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company's stock worth $340,505,000 after purchasing an additional 678,746 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in MongoDB by 611.3% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 715,100 shares of the company's stock worth $300,120,000 after purchasing an additional 614,559 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

NASDAQ MDB opened at $261.43 on Wednesday. The stock has a market capitalization of $21.01 billion, a P/E ratio of -297.08 and a beta of 1.60. MongoDB, Inc. has a 1 year low of $148.88 and a 1 year high of $444.72. The business's fifty day moving average is $279.23 and its two-hundred day moving average is $340.80.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same period in the previous year, the business earned $1.28 EPS. The company's revenue was up 26.8% on a year-over-year basis. On average, research analysts forecast that MongoDB, Inc. will post -0.41 earnings per share for the current year.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the business's stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director directly owned 24,093 shares of the company's stock, valued at $6,007,107.69. The trade was a 6.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 4,000 shares of the business's stock in a transaction on Thursday, April 16th. The shares were sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the sale, the director directly owned 476,896 shares in the company, valued at approximately $120,335,167.68. This trade represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 14,756 shares of company stock worth $3,734,893. Company insiders own 3.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MDB shares. Royal Bank Of Canada cut their target price on MongoDB from $500.00 to $395.00 and set an "outperform" rating for the company in a research report on Tuesday, March 3rd. Scotiabank upgraded MongoDB from a "sector perform" rating to a "sector outperform" rating and upped their target price for the stock from $275.00 to $310.00 in a research report on Thursday, March 5th. Needham & Company LLC cut their target price on MongoDB from $500.00 to $300.00 and set a "buy" rating for the company in a research report on Tuesday, March 3rd. The Goldman Sachs Group cut their target price on MongoDB from $475.00 to $320.00 and set a "buy" rating for the company in a research report on Wednesday, March 4th. Finally, Zacks Research cut MongoDB from a "hold" rating to a "strong sell" rating in a report on Tuesday, March 31st. Twenty-seven investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, MongoDB currently has a consensus rating of "Moderate Buy" and an average price target of $366.16.

MongoDB Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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