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

New York State Common Retirement Fund grew its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 20.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 113,134 shares of the company's stock after purchasing an additional 19,174 shares during the period. New York State Common Retirement Fund owned about 0.14% of MongoDB worth $19,844,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in MongoDB during the fourth quarter valued at approximately $189,584,000. Marshall Wace LLP bought a new position in shares of MongoDB during the 4th quarter valued at $110,356,000. D1 Capital Partners L.P. purchased a new position in MongoDB in the 4th quarter worth $76,129,000. Franklin Resources Inc. lifted its stake in MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in MongoDB by 69.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 356,964 shares of the company's stock valued at $83,105,000 after buying an additional 145,854 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total value of $236,067.92. Following the completion of the sale, the director owned 21,096 shares of the company's stock, valued at $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Dwight A. Merriman sold 820 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total value of $172,888.80. Following the completion of the transaction, the director directly owned 1,106,186 shares in the company, valued at approximately $233,228,256.24. This represents a 0.07% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 32,746 shares of company stock valued at $7,500,196 in the last 90 days. 3.10% of the stock is currently owned by insiders.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $0.98 during trading on Wednesday, reaching $209.64. 1,597,285 shares of the stock traded hands, compared to its average volume of 1,978,344. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $370.00. The stock has a market cap of $17.13 billion, a P/E ratio of -183.89 and a beta of 1.41. The stock has a 50-day moving average of $200.37 and a two-hundred day moving average of $213.39.

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on MDB shares. Piper Sandler increased their target price on MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Wolfe Research initiated coverage on MongoDB in a research report on Wednesday, July 9th. They issued an "outperform" rating and a $280.00 price objective for the company. Cantor Fitzgerald raised their target price on shares of MongoDB from $252.00 to $271.00 and gave the stock an "overweight" rating in a report on Thursday, June 5th. Morgan Stanley decreased their target price on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. Finally, Macquarie reissued a "neutral" rating and set a $230.00 price target (up previously from $215.00) on shares of MongoDB in a research report on Friday, June 6th. Eight analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $282.39.

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.