PFA Pension Forsikringsaktieselskab Purchases New Position in MongoDB, Inc. $MDB

Key Points

• PFA Pension Forsikringsaktieselskab bought a new stake of 35,840 MongoDB shares in Q4 valued at about $15.1 million, joining a market where roughly 89.29% of the stock is held by hedge funds and other institutions.
• MongoDB beat quarterly estimates with $1.65 EPS and $695.1 million in revenue (up 26.8% year-over-year), but the company still shows a negative net margin (-2.89%) and analysts forecast -0.46 EPS for the current year.
• Shares opened at $263.46 (market cap $21.17B) and trade well below the 52-week high of $444.72; analysts give a consensus rating of "Moderate Buy" with an average price target of $361.97, amid several recent target and rating adjustments.

PFA Pension Forsikringsaktieselskab purchased a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 35,840 shares of the company's stock, valued at approximately $15,097,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of MDB. Central Pacific Bank Trust Division purchased a new stake in MongoDB in the 4th quarter valued at $28,000. Huntington National Bank raised its position in MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company's stock valued at $30,000 after purchasing an additional 51 shares during the last quarter. TD Private Client Wealth LLC raised its position in MongoDB by 2,825.0% in the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock valued at $36,000 after purchasing an additional 113 shares during the last quarter. Hollencrest Capital Management acquired a new stake in shares of MongoDB during the third quarter worth about $37,000. Finally, Global Trust Asset Management LLC acquired a new stake in shares of MongoDB during the fourth quarter worth about $38,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

MongoDB Stock Performance

Shares of MDB opened at $263.46 on Monday. The company has a market capitalization of $21.17 billion, a price-to-earnings ratio of -299.39 and a beta of 1.48. MongoDB, Inc. has a fifty-two week low of $169.26 and a fifty-two week high of $444.72. The firm has a 50-day simple moving average of $264.86 and a 200-day simple moving average of $337.75.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm's revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the firm earned $1.28 earnings per share. Equities research analysts forecast that MongoDB, Inc. will post -0.46 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDB. DA Davidson decreased their target price on shares of MongoDB from $465.00 to $385.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Guggenheim reiterated a "buy" rating and set a $475.00 target price on shares of MongoDB in a research note on Tuesday, April 14th. The Goldman Sachs Group decreased their target price on shares of MongoDB from $475.00 to $320.00 and set a "buy" rating for the company in a research note on Wednesday, March 4th. Sanford C. Bernstein downgraded shares of MongoDB from an "outperform" rating to a "market perform" rating in a research note on Tuesday, March 3rd. Finally, Scotiabank upgraded shares of MongoDB from a "sector perform" rating to a "sector outperform" rating and increased their target price for the stock from $275.00 to $310.00 in a research note on Thursday, March 5th. Twenty-six investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and an average price target of $361.97.

Insider Transactions at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the completion of the sale, the director owned 24,093 shares in the company, valued at $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 4,000 shares of the firm's stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the completion of the sale, the director owned 476,896 shares of the company's stock, valued at approximately $120,335,167.68. The trade was a 0.83% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 13,566 shares of company stock valued at $3,294,891. 3.10% of the stock is owned by insiders.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company's platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.

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