Woodline Partners LP Increases Stock Position in MongoDB, Inc. $MDB

Key Points

• Woodline Partners LP significantly increased its ownership in MongoDB, Inc. by 30,297.0%, acquiring a total of 322,208 shares valued at $56.5 million.
• Analyst ratings are optimistic, with several brokerages raising their price targets for MongoDB, pushing the average target price to $310.86 and maintaining a consensus rating of "Moderate Buy."
• Insider trading saw a notable activity, with directors selling a total of 58,730 shares valued at approximately $15.97 million over the last three months.

Woodline Partners LP raised its holdings in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 30,297.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,208 shares of the company's stock after purchasing an additional 321,148 shares during the quarter. Woodline Partners LP owned 0.40% of MongoDB worth $56,515,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of MDB. Cloud Capital Management LLC bought a new stake in MongoDB during the 1st quarter valued at $25,000. Hollencrest Capital Management bought a new stake in MongoDB during the 1st quarter valued at $26,000. Cullen Frost Bankers Inc. increased its stake in MongoDB by 315.8% during the 1st quarter. Cullen Frost Bankers Inc. now owns 158 shares of the company's stock valued at $28,000 after purchasing an additional 120 shares in the last quarter. State of Wyoming bought a new stake in MongoDB during the 1st quarter valued at $62,000. Finally, Brooklyn Investment Group increased its stake in MongoDB by 247.9% during the 1st quarter. Brooklyn Investment Group now owns 407 shares of the company's stock valued at $71,000 after purchasing an additional 290 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Insider Buying and Selling

In related news, Director Hope F. Cochran sold 1,174 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $201.08, for a total value of $236,067.92. Following the transaction, the director directly owned 21,096 shares in the company, valued at approximately $4,241,983.68. This represents a 5.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Thomas Bull sold 1,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $326.25, for a total transaction of $326,250.00. Following the completion of the transaction, the chief accounting officer owned 11,598 shares in the company, valued at approximately $3,783,847.50. This trade represents a 7.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 59,730 shares of company stock valued at $16,292,409 in the last 90 days. 3.10% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Robert W. Baird lifted their price objective on shares of MongoDB from $260.00 to $335.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Wedbush reissued an "outperform" rating and issued a $300.00 price target on shares of MongoDB in a report on Wednesday, August 27th. Oppenheimer boosted their price target on shares of MongoDB from $275.00 to $325.00 and gave the stock an "outperform" rating in a report on Wednesday, August 27th. Zacks Research raised shares of MongoDB to a "hold" rating in a report on Friday, August 8th. Finally, Scotiabank upped their price objective on shares of MongoDB from $230.00 to $280.00 and gave the company a "sector perform" rating in a report on Wednesday, August 27th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-seven have assigned a Buy rating and ten have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $310.86.

MongoDB Trading Down 0.6%

Shares of MongoDB stock traded down $2.00 on Friday, reaching $330.10. The stock had a trading volume of 1,282,574 shares, compared to its average volume of 3,949,732. 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 $26.86 billion, a P/E ratio of -336.84 and a beta of 1.49. The business's 50 day moving average is $246.21 and its two-hundred day moving average is $209.62.

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.