OVERSEA CHINESE BANKING Corp Ltd Acquires 2,371 Shares of MongoDB, Inc. (NASDAQ:MDB)

Key Points

• OVERSEA CHINESE BANKING Corp Ltd has increased its stake in MongoDB, Inc. by 14.1%, owning 19,206 shares valued at approximately $3.37 million after acquiring more shares in Q1.
• MongoDB's recent earnings report showed earnings per share (EPS) of $1.00, exceeding estimates of $0.65, and its revenue rose 21.8% year-over-year.
• Recent insider transactions included CEO Dev Ittycheria selling 25,005 shares valued at about $5.85 million, resulting in an 8.87% decrease in his ownership.

OVERSEA CHINESE BANKING Corp Ltd raised its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 14.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,206 shares of the company's stock after buying an additional 2,371 shares during the period. OVERSEA CHINESE BANKING Corp Ltd's holdings in MongoDB were worth $3,369,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. 111 Capital purchased a new stake in MongoDB in the 4th quarter valued at approximately $390,000. Park Avenue Securities LLC raised its position in shares of MongoDB by 52.6% during the 1st quarter. Park Avenue Securities LLC now owns 2,630 shares of the company's stock worth $461,000 after purchasing an additional 907 shares during the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in MongoDB by 4.0% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 7,748 shares of the company's stock valued at $1,359,000 after acquiring an additional 298 shares during the last quarter. Sowell Financial Services LLC acquired a new position in MongoDB in the 1st quarter valued at $263,000. Finally, Farther Finance Advisors LLC grew its stake in shares of MongoDB by 57.2% during the 1st quarter. Farther Finance Advisors LLC now owns 1,242 shares of the company's stock valued at $219,000 after buying an additional 452 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on MDB. Rosenblatt Securities decreased their price target on shares of MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a research report on Thursday, June 5th. Macquarie restated a "neutral" rating and issued a $230.00 target price (up previously from $215.00) on shares of MongoDB in a research note on Friday, June 6th. Stifel Nicolaus dropped their price objective on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating on the stock in a research note on Friday, April 11th. DA Davidson reiterated a "buy" rating and issued a $275.00 price objective on shares of MongoDB in a report on Thursday, June 5th. Finally, Redburn Atlantic upgraded shares of MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target for the company in a research report on Thursday, April 17th. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, MongoDB presently has an average rating of "Moderate Buy" and a consensus price target of $281.31.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction that occurred on Monday, July 28th. The shares were sold at an average price of $243.89, for a total transaction of $2,032,823.15. Following the completion of the sale, the chief executive officer directly owned 236,557 shares of the company's stock, valued at $57,693,886.73. This trade represents a 3.40% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the firm's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the transaction, the director directly owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 51,416 shares of company stock valued at $11,936,656. 3.10% of the stock is owned by corporate insiders.

MongoDB Stock Up 1.1%

Shares of NASDAQ:MDB traded up $2.54 during midday trading on Wednesday, reaching $230.79. The company's stock had a trading volume of 382,088 shares, compared to its average volume of 2,279,686. The firm has a market capitalization of $18.86 billion, a P/E ratio of -202.19 and a beta of 1.44. The firm has a 50 day moving average of $213.10 and a 200-day moving average of $211.90. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The business had revenue of $549.01 million for the quarter, compared to analysts' expectations of $527.49 million. During the same quarter in the prior year, the business earned $0.51 EPS. The business's revenue for the quarter was up 21.8% compared to the same quarter last year. On average, research analysts predict that MongoDB, Inc. will post -1.78 EPS for the current year.

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.