XTX Topco Ltd Acquires 18,871 Shares of MongoDB, Inc. (NASDAQ:MDB)

Key Points

• XTX Topco Ltd significantly increased its stake in MongoDB, raising its ownership by 1,041.4% to own 20,683 shares valued at approximately $3.6 million.
• MongoDB's stock has received mixed analyst ratings, with nine hold ratings, twenty-six buy ratings, and a consensus price target of $281.31.
• Insider trades indicate a decrease in shareholding, with key executives, including the CEO and a Director, selling a total of $2.26 million in stock over recent transactions.

XTX Topco Ltd raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 1,041.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,683 shares of the company's stock after acquiring an additional 18,871 shares during the quarter. XTX Topco Ltd's holdings in MongoDB were worth $3,628,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in MDB. Franklin Resources Inc. increased its position in MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after purchasing an additional 181,962 shares during the period. Geode Capital Management LLC lifted its stake in 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 acquiring an additional 22,106 shares in the last quarter. First Trust Advisors LP lifted its stake in 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 acquiring an additional 95,893 shares in the last quarter. Norges Bank bought a new stake in shares of MongoDB during the 4th quarter worth approximately $189,584,000. Finally, T. Rowe Price Investment Management Inc. raised its stake in shares of MongoDB by 0.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 508,886 shares of the company's stock worth $118,474,000 after purchasing an additional 2,350 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

MDB has been the topic of a number of research analyst reports. Citigroup dropped their price target on MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research note on Tuesday, April 1st. Scotiabank upped their price objective on MongoDB from $160.00 to $230.00 and gave the stock a "sector perform" rating in a research report on Thursday, June 5th. Daiwa America upgraded MongoDB to a "strong-buy" rating in a research report on Tuesday, April 1st. Loop Capital downgraded MongoDB from a "buy" rating to a "hold" rating and lowered their price objective for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. Finally, Morgan Stanley lowered their price objective on MongoDB from $315.00 to $235.00 and set an "overweight" rating for the company in a research report on Wednesday, April 16th. Nine analysts have rated the stock with a hold rating, twenty-seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $281.31.

Insider Buying and Selling

In related news, Director Dwight A. Merriman sold 1,000 shares of the stock in a transaction dated Friday, July 25th. The shares were sold at an average price of $245.00, for a total transaction of $245,000.00. Following the sale, the director owned 1,104,316 shares in the company, valued at $270,557,420. This represents a 0.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the firm'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 transaction of $236,067.92. Following the completion of the sale, the director owned 21,096 shares in the company, valued at $4,241,983.68. The trade was a 5.27% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 51,416 shares of company stock valued at $11,936,656. Company insiders own 3.10% of the company's stock.

MongoDB Price Performance

Shares of MDB stock traded up $3.48 during midday trading on Wednesday, reaching $244.36. 1,959,076 shares of the company traded hands, compared to its average volume of 1,992,210. The firm's 50 day simple moving average is $208.62 and its two-hundred day simple moving average is $212.38. MongoDB, Inc. has a 1-year low of $140.78 and a 1-year high of $370.00. The firm has a market cap of $19.97 billion, a PE ratio of -214.35 and a beta of 1.41.

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

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.