Graham Capital Management L.P. Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Graham Capital Management L.P. increased its position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) by 811.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,414 shares of the company's stock after acquiring an additional 7,491 shares during the period. Graham Capital Management L.P.'s holdings in MongoDB were worth $1,959,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of MongoDB in the 3rd quarter valued at approximately $44,000. First Hawaiian Bank lifted its stake in shares of MongoDB by 18.3% in the 4th quarter. First Hawaiian Bank now owns 1,571 shares of the company's stock valued at $366,000 after acquiring an additional 243 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of MongoDB by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 22,399 shares of the company's stock valued at $5,215,000 after acquiring an additional 110 shares in the last quarter. Hilltop National Bank grew its position in MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after acquiring an additional 42 shares during the last quarter. Finally, FNY Investment Advisers LLC acquired a new position in MongoDB in the 4th quarter worth about $411,000. 89.29% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on MDB shares. Piper Sandler cut their price target on MongoDB from $280.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 23rd. KeyCorp downgraded shares of MongoDB from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, March 5th. Citigroup decreased their price target on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a research report on Tuesday, April 1st. 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 report on Thursday, April 17th. Finally, Rosenblatt Securities restated a "buy" rating and issued a $350.00 price objective on shares of MongoDB in a report on Tuesday, March 4th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $294.78.

MongoDB Trading Down 1.7%

NASDAQ MDB traded down $3.24 during mid-day trading on Thursday, hitting $190.50. The company's stock had a trading volume of 1,804,869 shares, compared to its average volume of 1,877,903. The firm has a market capitalization of $15.47 billion, a price-to-earnings ratio of -69.53 and a beta of 1.49. The company's 50 day simple moving average is $174.68 and its 200 day simple moving average is $240.73. MongoDB, Inc. has a twelve month low of $140.78 and a twelve month high of $379.06.

MongoDB (NASDAQ:MDB - Get Free Report) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The business had revenue of $548.40 million for the quarter, compared to analyst estimates of $519.65 million. During the same quarter in the prior year, the business earned $0.86 earnings per share. As a group, research analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In related news, insider Cedric Pech sold 1,690 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the sale, the insider now owns 57,634 shares in the company, valued at approximately $9,985,666.84. This trade represents a 2.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Srdjan Tanjga sold 525 shares of the business's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the completion of the transaction, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. The trade was a 7.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 34,423 shares of company stock valued at $7,148,369 in the last three months. 3.60% of the stock is currently owned by insiders.

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.