Pinnbrook Capital Management LP Makes New $4.51 Million Investment in MongoDB, Inc. $MDB

Key Points

• Pinnbrook Capital Management LP purchased a new stake of 14,518 shares in MongoDB in Q3, valued at about $4.51 million, while institutional investors and hedge funds collectively own roughly 89.29% of the company.
• MongoDB beat Q results with $1.65 EPS vs. $1.47 expected and $695.07M revenue (up 26.8% YoY), but it still reports a negative net margin (-2.89%) and carries a MarketBeat consensus rating of "Moderate Buy" with a $354.18 target and projected -1.78 EPS for the fiscal year.

Pinnbrook Capital Management LP purchased a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 14,518 shares of the company's stock, valued at approximately $4,506,000.

A number of other institutional investors and hedge funds also recently modified their holdings of MDB. Huntington National Bank lifted its holdings in shares of MongoDB by 110.9% during the 3rd quarter. Huntington National Bank now owns 97 shares of the company's stock worth $30,000 after acquiring an additional 51 shares during the period. Montag A & Associates Inc. grew its holdings in MongoDB by 144.3% in the second quarter. Montag A & Associates Inc. now owns 171 shares of the company's stock valued at $36,000 after purchasing an additional 101 shares during the period. Promus Capital LLC purchased a new stake in MongoDB in the second quarter valued at approximately $36,000. TD Private Client Wealth LLC increased its position in MongoDB by 2,825.0% during the third quarter. TD Private Client Wealth LLC now owns 117 shares of the company's stock worth $36,000 after purchasing an additional 113 shares during the last quarter. Finally, Hollencrest Capital Management acquired a new position in MongoDB during the third quarter worth approximately $37,000. Institutional investors and hedge funds own 89.29% of the company's stock.

MongoDB Stock Down 0.1%

MongoDB stock opened at $260.50 on Friday. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $444.72. The firm has a fifty day moving average of $354.08 and a 200-day moving average of $352.74. The firm has a market capitalization of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same quarter in the previous year, the business posted $1.28 EPS. The business's quarterly revenue was up 26.8% on a year-over-year basis. On average, research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Activity

In other news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total value of $4,077,000.00. Following the completion of the sale, the director owned 1,031,316 shares in the company, valued at approximately $420,467,533.20. This trade represents a 0.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Hope F. Cochran sold 1,566 shares of the firm's stock in a transaction dated Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total value of $660,617.10. Following the sale, the director owned 25,659 shares in the company, valued at approximately $10,824,249.15. The trade was a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 21,949 shares of company stock worth $8,981,630 over the last three months. 3.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on MDB. Cantor Fitzgerald decreased their price target on shares of MongoDB from $454.00 to $378.00 and set an "overweight" rating on the stock in a report on Tuesday, March 3rd. Wall Street Zen downgraded MongoDB from a "buy" rating to a "hold" rating in a report on Saturday, March 7th. Argus increased their target price on MongoDB from $340.00 to $488.00 and gave the stock a "buy" rating in a research report on Thursday, December 4th. Monness Crespi & Hardt reduced their target price on MongoDB from $475.00 to $370.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Finally, Mizuho lowered their price target on MongoDB from $380.00 to $290.00 and set a "neutral" rating for the company in a research report on Tuesday, March 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $354.18.

About MongoDB

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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