Spyglass Capital Management LLC Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Spyglass Capital Management LLC raised its stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 5.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 249,683 shares of the company's stock after purchasing an additional 13,712 shares during the period. MongoDB accounts for 3.3% of Spyglass Capital Management LLC's holdings, making the stock its 19th biggest holding. Spyglass Capital Management LLC owned 0.34% of MongoDB worth $58,129,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Two Sigma Investments LP bought a new stake in MongoDB in the fourth quarter valued at $768,000. Two Sigma Advisers LP bought a new stake in MongoDB in the fourth quarter valued at $6,519,000. Tairen Capital Ltd bought a new stake in MongoDB in the fourth quarter valued at $11,617,000. Teza Capital Management LLC increased its stake in MongoDB by 102.2% in the fourth quarter. Teza Capital Management LLC now owns 6,856 shares of the company's stock valued at $1,596,000 after purchasing an additional 3,465 shares in the last quarter. Finally, Toronto Dominion Bank increased its stake in MongoDB by 10.8% in the fourth quarter. Toronto Dominion Bank now owns 10,484 shares of the company's stock valued at $2,441,000 after purchasing an additional 1,022 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Trading Up 1.9%

Shares of NASDAQ:MDB traded up $3.57 during trading on Thursday, reaching $188.58. The company had a trading volume of 2,198,221 shares, compared to its average volume of 1,931,638. The company has a fifty day moving average of $174.75 and a two-hundred day moving average of $236.90. The stock has a market capitalization of $15.31 billion, a P/E ratio of -68.82 and a beta of 1.49. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $379.06.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period in the previous year, the company earned $0.86 EPS. As a group, equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insider Transactions at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total transaction of $2,229,445.80. Following the transaction, the chief executive officer now owns 217,294 shares of the company's stock, valued at approximately $58,121,799.12. This trade represents a 3.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Srdjan Tanjga sold 525 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now directly owns 6,406 shares in the company, valued at approximately $1,109,903.56. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 33,538 shares of company stock valued at $6,889,905 in the last quarter. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. KeyCorp cut shares of MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Needham & Company LLC cut their price target on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating on the stock in a report on Thursday, March 6th. UBS Group set a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. Rosenblatt Securities restated a "buy" rating and set a $350.00 price target on shares of MongoDB in a report on Tuesday, March 4th. Finally, Mizuho cut their price target on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and an average target price of $288.91.

MongoDB 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.