Tairen Capital Ltd Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Tairen Capital Ltd purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 49,900 shares of the company's stock, valued at approximately $11,617,000. MongoDB accounts for about 1.7% of Tairen Capital Ltd's investment portfolio, making the stock its 18th largest position. Tairen Capital Ltd owned approximately 0.07% of MongoDB at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Strategic Investment Solutions Inc. IL purchased a new position in MongoDB during the fourth quarter worth approximately $29,000. NCP Inc. purchased a new position in shares of MongoDB in the 4th quarter valued at $35,000. Coppell Advisory Solutions LLC raised its stake in shares of MongoDB by 364.0% in the 4th quarter. Coppell Advisory Solutions LLC now owns 232 shares of the company's stock valued at $54,000 after acquiring an additional 182 shares during the period. Smartleaf Asset Management LLC raised its stake in shares of MongoDB by 56.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock valued at $87,000 after acquiring an additional 134 shares during the period. Finally, Manchester Capital Management LLC raised its stake in shares of MongoDB by 57.4% in the 4th quarter. Manchester Capital Management LLC now owns 384 shares of the company's stock valued at $89,000 after acquiring an additional 140 shares during the period. Hedge funds and other institutional investors own 89.29% of the company's stock.

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $267.48, for a total value of $2,229,445.80. Following the sale, the chief executive officer now directly owns 217,294 shares in the company, valued at $58,121,799.12. This trade represents a 3.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the sale, the chief accounting officer now owns 14,598 shares in the company, valued at approximately $2,529,103.50. This represents a 2.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 34,423 shares of company stock worth $7,148,369 in the last ninety days. 3.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on MDB shares. Redburn Atlantic raised shares of MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price on the stock in a research note on Thursday, April 17th. Scotiabank reissued a "sector perform" rating and issued a $160.00 target price (down previously from $240.00) on shares of MongoDB in a research note on Friday, April 25th. The Goldman Sachs Group cut their target price on shares of MongoDB from $390.00 to $335.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. Rosenblatt Securities reaffirmed a "buy" rating and set a $350.00 price target on shares of MongoDB in a research note on Tuesday, March 4th. Finally, KeyCorp downgraded shares of MongoDB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $293.91.

MongoDB Stock Performance

NASDAQ MDB opened at $191.29 on Friday. MongoDB, Inc. has a one year low of $140.78 and a one year high of $379.06. The company has a 50-day simple moving average of $174.91 and a 200-day simple moving average of $238.95. The firm has a market capitalization of $15.53 billion, a PE ratio of -69.81 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million during the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the firm posted $0.86 earnings per share. Equities analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

MongoDB Profile

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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