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

A number of other hedge funds also recently bought and sold shares of MDB. Geode Capital Management LLC lifted its holdings in MongoDB by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after acquiring an additional 22,106 shares during the period. First Trust Advisors LP increased its position in shares of MongoDB by 12.6% during the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock valued at $199,031,000 after purchasing an additional 95,893 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of MongoDB by 0.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 508,886 shares of the company's stock worth $118,474,000 after purchasing an additional 2,350 shares during the period. Marshall Wace LLP purchased a new position in shares of MongoDB in the fourth quarter worth approximately $110,356,000. Finally, Northern Trust Corp grew its position in MongoDB by 6.4% during the fourth quarter. Northern Trust Corp now owns 468,010 shares of the company's stock valued at $108,957,000 after buying an additional 27,981 shares during the period. Institutional investors own 89.29% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on MDB. Monness Crespi & Hardt upgraded shares of MongoDB from a "neutral" rating to a "buy" rating and set a $295.00 price target on the stock in a research report on Thursday, June 5th. Piper Sandler raised their target price on MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Morgan Stanley cut their price target on MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. Redburn Atlantic raised MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price objective on the stock in a research note on Thursday, April 17th. Finally, Mizuho cut their price objective on MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating, twenty-seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $281.31.

MongoDB Trading Down 1.1%

Shares of MongoDB stock traded down $2.65 during trading on Thursday, hitting $233.18. 553,540 shares of the stock traded hands, compared to its average volume of 2,277,016. The stock's fifty day simple moving average is $214.05 and its 200 day simple moving average is $212.07. The firm has a market cap of $19.05 billion, a P/E ratio of -204.36 and a beta of 1.44. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $370.00.

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

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 2,000 shares of the firm's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the sale, the director directly owned 1,107,006 shares in the company, valued at approximately $259,039,404. This trade represents a 0.18% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the business's stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the transaction, the director 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is owned by corporate insiders.

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.