733,787 Shares in MongoDB, Inc. (NASDAQ:MDB) Acquired by Westfield Capital Management Co. LP

Key Points

• Westfield Capital Management Co. LP invested approximately $128.71 million in MongoDB, acquiring 733,787 shares, which amounts to about 0.90% ownership of the company.
• Insider trading activity saw Director Hope F. Cochran sell 1,174 shares for $236,067.92 and CEO Dev Ittycheria sell 25,005 shares worth $5,851,170.00, indicating a decrease in their positions.
• Analysts have set a consensus price target of $281.31 for MongoDB, with ratings indicating nine holds, twenty-seven buys, and one strong buy.

Westfield Capital Management Co. LP acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 733,787 shares of the company's stock, valued at approximately $128,706,000. Westfield Capital Management Co. LP owned about 0.90% of MongoDB as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the business. ING Groep NV grew its stake in MongoDB by 34.2% during the 1st quarter. ING Groep NV now owns 2,422 shares of the company's stock valued at $425,000 after purchasing an additional 617 shares in the last quarter. Blair William & Co. IL grew its stake in shares of MongoDB by 20.7% in the first quarter. Blair William & Co. IL now owns 447,025 shares of the company's stock worth $78,408,000 after purchasing an additional 76,568 shares in the last quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych increased its stake in MongoDB by 4.9% during the 1st quarter. Generali Investments Towarzystwo Funduszy Inwestycyjnych now owns 12,900 shares of the company's stock valued at $2,263,000 after buying an additional 600 shares during the period. Banco Santander S.A. boosted its stake in MongoDB by 13.2% during the first quarter. Banco Santander S.A. now owns 4,378 shares of the company's stock valued at $768,000 after buying an additional 512 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd lifted its stake in MongoDB by 14.1% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 19,206 shares of the company's stock valued at $3,369,000 after purchasing an additional 2,371 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $7.57 during mid-day trading on Wednesday, reaching $235.82. 1,787,292 shares of the company's stock were exchanged, compared to its average volume of 2,182,441. The firm has a market capitalization of $19.27 billion, a price-to-earnings ratio of -206.86 and a beta of 1.44. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $370.00. The business's fifty day moving average price is $214.05 and its 200-day moving average price is $212.07.

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

Insider Buying and Selling at MongoDB

In related news, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Monday, July 28th. The stock was sold at an average price of $243.89, for a total transaction of $2,032,823.15. Following the sale, the chief executive officer directly owned 236,557 shares of the company's stock, valued at $57,693,886.73. This trade represents a 3.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Hope F. Cochran sold 1,174 shares of MongoDB stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the completion of the sale, the director directly owned 21,096 shares of the company's stock, valued at approximately $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 51,416 shares of company stock worth $11,936,656 over the last 90 days. Corporate insiders own 3.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on MDB shares. Bank of America upped their price target on MongoDB from $215.00 to $275.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Morgan Stanley decreased their price target on shares of MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. DA Davidson reiterated a "buy" rating and set a $275.00 target price on shares of MongoDB in a research note on Thursday, June 5th. Redburn Atlantic upgraded shares of MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 price target on the stock in a research note on Thursday, April 17th. Finally, Guggenheim upped their price target on MongoDB from $235.00 to $260.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Nine analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $281.31.

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.