Vinva Investment Management Ltd Takes Position in MongoDB, Inc. $MDB

Key Points

• Vinva Investment Management initiated a new stake in MongoDB in Q3, purchasing 6,758 shares valued at about $2.14 million.
• Several analysts cut price targets recently (e.g., Needham from $500 to $300, Baird to $260), yet the consensus remains a “Moderate Buy” with an average price target of $354.18.
• MongoDB beat the quarter’s estimates with $1.65 EPS (vs. $1.47 expected) and $695.1M revenue (up 26.8% YoY), but the company still reports a negative net margin and negative return on equity.

Vinva Investment Management Ltd bought a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 6,758 shares of the company's stock, valued at approximately $2,142,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Meiji Yasuda Asset Management Co Ltd. increased its holdings in MongoDB by 3.8% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company's stock valued at $342,000 after buying an additional 40 shares in the last quarter. Huntington National Bank boosted its stake 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 in the last quarter. GAMMA Investing LLC boosted its stake in shares of MongoDB by 46.2% during the 3rd quarter. GAMMA Investing LLC now owns 171 shares of the company's stock worth $53,000 after acquiring an additional 54 shares in the last quarter. Westside Investment Management Inc. grew its position in shares of MongoDB by 82.1% during the 3rd quarter. Westside Investment Management Inc. now owns 122 shares of the company's stock valued at $39,000 after acquiring an additional 55 shares during the period. Finally, WPG Advisers LLC grew its position in shares of MongoDB by 53.7% during the 3rd quarter. WPG Advisers LLC now owns 166 shares of the company's stock valued at $52,000 after acquiring an additional 58 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

MDB has been the subject of a number of analyst reports. Rosenblatt Securities reaffirmed a "buy" rating and issued a $425.00 price target on shares of MongoDB in a report on Monday, March 2nd. Needham & Company LLC dropped their price objective on MongoDB from $500.00 to $300.00 and set a "buy" rating on the stock in a report on Tuesday, March 3rd. Robert W. Baird restated a "neutral" rating and issued a $260.00 price objective (down from $500.00) on shares of MongoDB in a research report on Tuesday, March 3rd. BMO Capital Markets reaffirmed an "outperform" rating and set a $340.00 target price (down from $400.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Finally, Zacks Research lowered MongoDB from a "strong-buy" rating to a "hold" rating in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $354.18.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 10,000 shares of the stock in a transaction on Friday, December 12th. The stock was sold at an average price of $417.83, for a total value of $4,178,300.00. Following the completion of the transaction, the director directly owned 1,041,316 shares of the company's stock, valued at approximately $435,093,064.28. This represents a 0.95% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total transaction of $660,617.10. Following the sale, the director directly owned 25,659 shares in the company, valued at approximately $10,824,249.15. This trade represents a 5.75% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 31,949 shares of company stock valued at $13,159,930. 3.10% of the stock is owned by corporate insiders.

MongoDB Trading Up 0.5%

MDB stock opened at $271.74 on Tuesday. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $444.72. The business's 50-day moving average is $366.04 and its 200 day moving average is $353.30. The stock has a market cap of $22.12 billion, a price-to-earnings ratio of -308.80, a PEG ratio of 403.42 and a beta of 1.40.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating analysts' consensus estimates of $1.47 by $0.18. The business had revenue of $695.07 million during the quarter, compared to analysts' expectations of $669.40 million. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The business's revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.28 earnings per share. As a group, equities analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

MongoDB 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.

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