Polymer Capital Management HK LTD Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Polymer Capital Management HK LTD bought a new stake in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,937 shares of the company's stock, valued at approximately $917,000.

Several other institutional investors and hedge funds also recently modified their holdings of MDB. Norges Bank bought a new position in MongoDB during the fourth quarter valued at about $189,584,000. Raymond James Financial Inc. acquired a new position in shares of MongoDB in the 4th quarter worth approximately $90,478,000. Amundi raised its holdings in shares of MongoDB by 86.2% in the 4th quarter. Amundi now owns 693,740 shares of the company's stock worth $172,519,000 after purchasing an additional 321,186 shares in the last quarter. Assenagon Asset Management S.A. lifted its stake in MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock valued at $69,119,000 after purchasing an additional 294,228 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in MongoDB by 9.7% during the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company's stock worth $478,398,000 after buying an additional 181,962 shares in the last quarter. Institutional investors own 89.29% of the company's stock.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 8,335 shares of MongoDB stock in a transaction on Friday, January 17th. The stock was sold at an average price of $254.86, for a total value of $2,124,258.10. Following the completion of the transaction, the chief executive officer now owns 217,294 shares in the company, valued at approximately $55,379,548.84. The trade was a 3.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Dwight A. Merriman sold 885 shares of the stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $292.05, for a total value of $258,464.25. Following the sale, the director now owns 83,845 shares in the company, valued at $24,486,932.25. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,060 shares of company stock worth $13,461,875 in the last 90 days. 3.60% of the stock is owned by company insiders.

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MongoDB Stock Up 0.7 %

MongoDB stock traded up $1.14 on Friday, hitting $162.24. The company's stock had a trading volume of 1,677,145 shares, compared to its average volume of 1,799,806. MongoDB, Inc. has a one year low of $140.78 and a one year high of $387.19. The firm has a market cap of $13.17 billion, a P/E ratio of -59.21 and a beta of 1.49. The company has a fifty day moving average price of $220.46 and a 200-day moving average price of $256.10.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing analysts' consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period in the previous year, the firm earned $0.86 EPS. Analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently commented on MDB. The Goldman Sachs Group cut their price objective on MongoDB from $390.00 to $335.00 and set a "buy" rating for the company in a research report on Thursday, March 6th. Barclays decreased their price target on MongoDB from $330.00 to $280.00 and set an "overweight" rating for the company in a research report on Thursday, March 6th. Piper Sandler cut their price objective on MongoDB from $425.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Citigroup decreased their target price on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating for the company in a report on Tuesday, April 1st. Finally, Wells Fargo & Company lowered shares of MongoDB from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $365.00 to $225.00 in a report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $310.74.

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.