OVERSEA CHINESE BANKING Corp Ltd Buys 2,371 Shares of MongoDB, Inc. (NASDAQ:MDB)

OVERSEA CHINESE BANKING Corp Ltd increased its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 14.1% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,206 shares of the company's stock after acquiring 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 added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock worth $1,706,205,000 after acquiring an additional 23,942 shares during the last quarter. Franklin Resources Inc. raised its holdings in MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after acquiring an additional 181,962 shares during the last quarter. Geode Capital Management LLC raised its holdings in MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock worth $290,987,000 after acquiring an additional 22,106 shares during the last quarter. First Trust Advisors LP raised its holdings in MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock worth $199,031,000 after acquiring an additional 95,893 shares during the last quarter. Finally, Norges Bank purchased a new position in MongoDB in the 4th quarter worth approximately $189,584,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Up 0.9%

MDB stock traded up $1.93 during mid-day trading on Friday, hitting $220.46. The company had a trading volume of 1,005,202 shares, compared to its average volume of 1,979,718. The company has a market capitalization of $18.01 billion, a price-to-earnings ratio of -193.34 and a beta of 1.41. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $370.00. The company has a 50-day moving average price of $201.86 and a 200 day moving average price of $213.26.

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

Wall Street Analysts Forecast Growth

MDB has been the subject of a number of research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $320.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Stifel Nicolaus decreased their target price on shares of MongoDB from $340.00 to $275.00 and set a "buy" rating for the company in a research note on Friday, April 11th. Wedbush reiterated an "outperform" rating and set a $300.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Stephens initiated coverage on shares of MongoDB in a research note on Friday. They set an "equal weight" rating and a $247.00 target price for the company. Finally, Cantor Fitzgerald boosted their target price on shares of MongoDB from $252.00 to $271.00 and gave the company an "overweight" rating in a research note on Thursday, June 5th. Nine equities research analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, MongoDB has an average rating of "Moderate Buy" and an average price target of $281.35.

Insider Activity

In other news, Director Dwight A. Merriman sold 820 shares of the company's stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of the stock in a transaction dated Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This trade represents a 5.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 32,746 shares of company stock worth $7,500,196. 3.10% of the stock is currently owned by corporate insiders.

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.