New York State Common Retirement Fund Raises Position in MongoDB, Inc. (NASDAQ:MDB)

New York State Common Retirement Fund raised its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 20.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 113,134 shares of the company's stock after purchasing an additional 19,174 shares during the quarter. New York State Common Retirement Fund owned approximately 0.14% of MongoDB worth $19,844,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. HighTower Advisors LLC lifted its position in shares of MongoDB by 2.0% in the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company's stock worth $4,371,000 after buying an additional 372 shares during the last quarter. Sequoia Financial Advisors LLC lifted its holdings in MongoDB by 18.9% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,328 shares of the company's stock worth $309,000 after purchasing an additional 211 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in MongoDB during the fourth quarter worth approximately $2,063,000. Natixis Advisors LLC grew its holdings in MongoDB by 49.7% during the fourth quarter. Natixis Advisors LLC now owns 27,397 shares of the company's stock valued at $6,378,000 after purchasing an additional 9,093 shares during the last quarter. Finally, Primecap Management Co. CA raised its position in shares of MongoDB by 28.6% in the fourth quarter. Primecap Management Co. CA now owns 90,350 shares of the company's stock valued at $21,034,000 after purchasing an additional 20,100 shares during the period. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Trading Up 1.2%

Shares of MDB traded up $2.68 during mid-day trading on Friday, reaching $221.21. The company's stock had a trading volume of 1,822,164 shares, compared to its average volume of 1,984,265. The business has a 50-day simple moving average of $202.71 and a two-hundred day simple moving average of $213.18. The stock has a market cap of $18.08 billion, a P/E ratio of -194.04 and a beta of 1.41. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year 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 for the quarter, topping analysts' consensus estimates of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company had revenue of $549.01 million during the quarter, compared to the consensus estimate of $527.49 million. During the same quarter last year, the firm earned $0.51 earnings per share. The company's revenue was up 21.8% on a year-over-year basis. Research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on MDB. Wedbush reiterated an "outperform" rating and set a $300.00 price target on shares of MongoDB in a report on Thursday, June 5th. Mizuho decreased their target price on MongoDB from $250.00 to $190.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Loop Capital lowered MongoDB from a "buy" rating to a "hold" rating and cut their target price for the company from $350.00 to $190.00 in a research note on Tuesday, May 20th. DA Davidson reiterated a "buy" rating and set a $275.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Finally, Piper Sandler raised their price objective on shares of MongoDB from $200.00 to $275.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Nine research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $281.35.

Insider Activity

In other news, Director Hope F. Cochran sold 1,174 shares of the company'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 in the company, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total value of $468,000.00. Following the completion of the sale, the director owned 1,107,006 shares of the company's stock, valued at $259,039,404. The trade was a 0.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 32,746 shares of company stock worth $7,500,196. 3.10% of the stock is currently owned by corporate insiders.

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.