Washington Capital Management Inc. Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Washington Capital Management Inc. acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 2,800 shares of the company's stock, valued at approximately $491,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its stake in MongoDB by 0.3% during the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company's stock worth $1,706,205,000 after buying an additional 23,942 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock valued at $478,398,000 after purchasing an additional 181,962 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company's stock valued at $290,987,000 after purchasing an additional 22,106 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company's stock valued at $199,031,000 after purchasing an additional 95,893 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of MongoDB in the 4th quarter valued at $189,584,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Truist Financial decreased their price target on MongoDB from $300.00 to $275.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Daiwa Capital Markets assumed coverage on MongoDB in a research note on Tuesday, April 1st. They issued an "outperform" rating and a $202.00 price target on the stock. Morgan Stanley decreased their price target on MongoDB from $315.00 to $235.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 16th. UBS Group upped their price target on MongoDB from $213.00 to $240.00 and gave the company a "neutral" rating in a research note on Thursday. Finally, Barclays upped their price target on MongoDB from $252.00 to $270.00 and gave the company an "overweight" rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $282.47.

MongoDB Price Performance

MDB stock opened at $220.14 on Friday. The firm has a market capitalization of $17.87 billion, a P/E ratio of -80.34 and a beta of 1.40. The business's 50-day moving average is $176.52 and its two-hundred day moving average is $229.93. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.35. The company had revenue of $549.01 million for the quarter, compared to analyst estimates of $527.49 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. MongoDB's revenue for the quarter was up 21.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.51 EPS. On average, 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 the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $90,961.50. Following the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at $1,109,903.56. This trade represents a 7.57% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 22,203 shares of company stock valued at $3,848,569 in the last quarter. Corporate insiders own 3.10% of the company's stock.

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.

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