Teacher Retirement System of Texas Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Teacher Retirement System of Texas purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 10,882 shares of the company's stock, valued at approximately $1,909,000.

Other hedge funds have also made changes to their positions in the company. Krane Funds Advisors LLC bought a new stake in MongoDB during the first quarter valued at about $217,000. Keybank National Association OH grew its holdings in MongoDB by 58.5% in the 1st quarter. Keybank National Association OH now owns 5,126 shares of the company's stock valued at $899,000 after buying an additional 1,892 shares during the last quarter. DAVENPORT & Co LLC increased its position in MongoDB by 29.0% in the 1st quarter. DAVENPORT & Co LLC now owns 3,544 shares of the company's stock worth $622,000 after buying an additional 796 shares during the period. Clear Creek Financial Management LLC increased its position in MongoDB by 13.8% in the 1st quarter. Clear Creek Financial Management LLC now owns 1,440 shares of the company's stock worth $253,000 after buying an additional 175 shares during the period. Finally, Vontobel Holding Ltd. increased its position in MongoDB by 1.5% in the 1st quarter. Vontobel Holding Ltd. now owns 9,612 shares of the company's stock worth $1,686,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on MDB shares. UBS Group lifted their price target on MongoDB from $213.00 to $240.00 and gave the stock a "neutral" rating in a research report on Thursday, June 5th. Daiwa Capital Markets started coverage on MongoDB in a report on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 price target for the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $320.00 price target on shares of MongoDB in a report on Thursday, June 5th. Macquarie reaffirmed a "neutral" rating and issued a $230.00 price target (up previously from $215.00) on shares of MongoDB in a report on Friday, June 6th. Finally, Piper Sandler upped their price target on MongoDB from $200.00 to $275.00 and gave the company an "overweight" rating in a report on Thursday, June 5th. Eight investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MongoDB currently has an average rating of "Moderate Buy" and a consensus target price of $282.39.

MongoDB Stock Performance

Shares of NASDAQ MDB traded down $6.76 during trading hours on Friday, hitting $202.51. 1,692,989 shares of the stock were exchanged, compared to its average volume of 1,970,655. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The company has a market cap of $16.55 billion, a PE ratio of -177.64 and a beta of 1.41. The company's fifty day simple moving average is $199.07 and its two-hundred day simple moving average is $214.09.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.35. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. The company had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. During the same quarter last year, the company posted $0.51 EPS. The company's revenue for the quarter was up 21.8% compared to the same quarter last year. As a group, sell-side analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $468,000.00. Following the completion of the transaction, the director directly owned 1,107,006 shares in the company, valued at $259,039,404. This represents a 0.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Dev Ittycheria sold 25,005 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $234.00, for a total transaction of $5,851,170.00. Following the completion of the transaction, the chief executive officer directly owned 256,974 shares of the company's stock, valued at approximately $60,131,916. The trade was a 8.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,746 shares of company stock valued at $7,500,196. 3.10% of the stock is currently owned by insiders.

About MongoDB

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.