Strs Ohio Increases Position in MongoDB, Inc. $MDB

Key Points

• Strs Ohio raised its stake in MongoDB by 784.9% in Q4, adding 14,803 shares to hold 16,689 shares worth about $7.00 million, and institutional investors now own roughly 89.3% of the stock.
• Company insiders sold 13,566 shares in the last quarter — including Director Dwight Merriman’s sale of 4,000 shares at an average $252.33 — leaving insiders with about 3.10% ownership.
• Analysts have trimmed price targets but the consensus remains a Moderate Buy with a $361.97 target, while MongoDB recently beat quarterly estimates (EPS $1.65 vs. $1.47; revenue $695.1M, +26.8% year-over-year).

Strs Ohio raised its position in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 784.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,689 shares of the company's stock after purchasing an additional 14,803 shares during the period. Strs Ohio's holdings in MongoDB were worth $7,004,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its position in shares of MongoDB by 1,220.0% in the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company's stock valued at $27,000 after purchasing an additional 61 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of MongoDB in the 4th quarter valued at approximately $28,000. Huntington National Bank increased its position in shares of 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 increased its position in shares of 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. Finally, Hollencrest Capital Management acquired a new position in shares of MongoDB in the 3rd quarter valued at $37,000. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analyst Ratings Changes

MDB has been the subject of several research analyst reports. Wells Fargo & Company lowered their target price on shares of MongoDB from $450.00 to $375.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. Sanford C. Bernstein cut shares of MongoDB from an "outperform" rating to a "market perform" rating in a report on Tuesday, March 3rd. Bank of America lowered their target price on shares of MongoDB from $400.00 to $350.00 and set an "underperform" rating for the company in a report on Wednesday, April 22nd. Citigroup lowered their target price on shares of MongoDB from $435.00 to $400.00 and set a "buy" rating for the company in a report on Tuesday, March 3rd. Finally, Barclays lowered their target price on shares of MongoDB from $440.00 to $370.00 and set an "overweight" rating for the company in a report on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $361.97.

MongoDB Price Performance

Shares of NASDAQ:MDB opened at $264.69 on Tuesday. The stock has a market cap of $21.27 billion, a P/E ratio of -300.78 and a beta of 1.48. The firm has a fifty day moving average price of $264.86 and a 200 day moving average price of $337.75. MongoDB, Inc. has a 1-year low of $169.26 and a 1-year high of $444.72.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.