Oberndorf William E Purchases New Shares in MongoDB, Inc. $MDB

Key Points

• Oberndorf William E purchased 27,797 shares of MongoDB, Inc. for approximately $4.87 million, making it the 8th largest position in their portfolio at about 6.3%.
• MongoDB, Inc. reported earnings of $1.00 per share for the last quarter, exceeding estimates of $0.65, alongside a revenue increase of 21.8% year-over-year.
• Institutional investors currently own 89.29% of MongoDB's stock, indicating strong market confidence in the company's prospects.

Oberndorf William E purchased a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 27,797 shares of the company's stock, valued at approximately $4,876,000. MongoDB makes up approximately 6.3% of Oberndorf William E's investment portfolio, making the stock its 8th biggest position.

Several other hedge funds also recently made changes to their positions in the company. Ossiam raised its stake in MongoDB by 16.0% during the fourth quarter. Ossiam now owns 791 shares of the company's stock valued at $184,000 after buying an additional 109 shares during the last quarter. Ostrum Asset Management raised its stake in MongoDB by 460.8% during the fourth quarter. Ostrum Asset Management now owns 2,159 shares of the company's stock valued at $503,000 after buying an additional 1,774 shares during the last quarter. Natixis raised its stake in MongoDB by 209.4% during the fourth quarter. Natixis now owns 1,850 shares of the company's stock valued at $431,000 after buying an additional 1,252 shares during the last quarter. Teachers Retirement System of The State of Kentucky raised its stake in MongoDB by 138.1% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 51,432 shares of the company's stock valued at $11,974,000 after buying an additional 29,832 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in MongoDB by 554.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 8,077 shares of the company's stock valued at $1,880,000 after buying an additional 6,842 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors.

MongoDB Price Performance

Shares of MDB stock opened at $227.06 on Tuesday. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00. The stock's 50 day simple moving average is $215.59 and its two-hundred day simple moving average is $208.31. The company has a market cap of $18.55 billion, a PE ratio of -199.18 and a beta of 1.44.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating 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 business had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. During the same period in the prior year, the business posted $0.51 earnings per share. The company's quarterly revenue was up 21.8% compared to the same quarter last year. Equities research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Transactions at MongoDB

In other news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction that occurred on Friday, July 25th. The stock was sold at an average price of $245.00, for a total value of $245,000.00. Following the sale, the director directly owned 1,104,316 shares in the company, valued at approximately $270,557,420. This represents a 0.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction that occurred 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 in the company, valued at approximately $4,241,983.68. The trade was a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 51,416 shares of company stock worth $11,936,656. 3.10% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Citigroup lifted their price objective on MongoDB from $395.00 to $405.00 and gave the company a "buy" rating in a research note on Monday. Loop Capital cut MongoDB from a "buy" rating to a "hold" rating and decreased their price target for the stock from $350.00 to $190.00 in a research note on Tuesday, May 20th. Rosenblatt Securities decreased their price target on MongoDB from $305.00 to $290.00 and set a "buy" rating for the company in a research note on Thursday, June 5th. BMO Capital Markets initiated coverage on MongoDB in a research note on Monday, July 28th. They issued an "outperform" rating and a $280.00 price target for the company. Finally, Cantor Fitzgerald boosted their price target on MongoDB from $252.00 to $271.00 and gave the stock an "overweight" rating in a research note on Thursday, June 5th. Ten investment analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $283.46.

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.

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