Tairen Capital Ltd Acquires New Stake in MongoDB, Inc. (NASDAQ:MDB)

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

Several other institutional investors also recently bought and sold shares of MDB. Strategic Investment Solutions Inc. IL purchased a new stake in shares of MongoDB during the fourth quarter valued at about $29,000. NCP Inc. acquired a new stake in shares of MongoDB during the fourth quarter worth about $35,000. Coppell Advisory Solutions LLC boosted its holdings 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 last quarter. Smartleaf Asset Management LLC grew its position in MongoDB by 56.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company's stock worth $87,000 after purchasing an additional 134 shares during the period. Finally, Manchester Capital Management LLC grew its holdings in MongoDB by 57.4% during the fourth quarter. Manchester Capital Management LLC now owns 384 shares of the company's stock worth $89,000 after acquiring an additional 140 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

Shares of MongoDB stock traded down $4.19 during trading hours on Friday, hitting $184.39. The company had a trading volume of 518,298 shares, compared to its average volume of 1,926,219. The company's 50-day moving average is $174.75 and its two-hundred day moving average is $236.90. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $379.06. The company has a market cap of $14.97 billion, a P/E ratio of -67.29 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last released 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). The firm had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period last year, the firm earned $0.86 EPS. Sell-side analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Buying and Selling at MongoDB

In other news, CAO Thomas Bull sold 301 shares of MongoDB stock in a transaction that occurred on 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 directly owns 14,598 shares in the company, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 18,512 shares of the business's stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now owns 268,948 shares in the company, valued at approximately $46,597,930.48. The trade was a 6.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 33,538 shares of company stock valued at $6,889,905 in the last ninety days. Insiders own 3.60% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MDB shares. Mizuho cut their price objective on shares of MongoDB from $250.00 to $190.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $320.00 target price on shares of MongoDB in a report on Tuesday. UBS Group set a $350.00 price objective on MongoDB in a research report on Tuesday, March 4th. Needham & Company LLC dropped their price target on shares of MongoDB from $415.00 to $270.00 and set a "buy" rating for the company in a research note on Thursday, March 6th. Finally, Morgan Stanley cut their price objective on MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $288.91.

MongoDB Company 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.