Arrowstreet Capital Limited Partnership Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Arrowstreet Capital Limited Partnership bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 59,412 shares of the company's stock, valued at approximately $13,832,000. Arrowstreet Capital Limited Partnership owned approximately 0.08% of MongoDB as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently added to or reduced their stakes in MDB. Hilltop National Bank grew its holdings in shares of MongoDB by 47.2% in 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. NCP Inc. purchased a new position in MongoDB in the 4th quarter worth about $35,000. Continuum Advisory LLC increased its stake in MongoDB by 621.1% in the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after purchasing an additional 118 shares in the last quarter. Versant Capital Management Inc raised its holdings in MongoDB by 1,100.0% during the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company's stock worth $42,000 after buying an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in MongoDB during the third quarter valued at about $44,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Activity

In other news, CAO Thomas Bull sold 301 shares of the firm's stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares of the company's stock, valued at approximately $2,529,103.50. This trade represents a 2.02 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the sale, the chief financial officer now directly owns 6,406 shares in the company, valued at $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. Over the last 90 days, insiders sold 58,060 shares of company stock valued at $13,461,875. Insiders own 3.60% of the company's stock.

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MongoDB Stock Performance

Shares of NASDAQ:MDB traded up $25.49 during midday trading on Wednesday, hitting $171.34. The company's stock had a trading volume of 3,611,865 shares, compared to its average volume of 1,790,745. The stock's 50 day simple moving average is $224.89 and its 200 day simple moving average is $257.73. The stock has a market capitalization of $13.91 billion, a price-to-earnings ratio of -62.53 and a beta of 1.49. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $387.19.

MongoDB (NASDAQ:MDB - Get Free Report) last released its earnings results 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 during the quarter, compared to analyst estimates of $519.65 million. During the same period last year, the business earned $0.86 EPS. As a group, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Citigroup dropped their target price on shares of MongoDB from $430.00 to $330.00 and set a "buy" rating on the stock in a research report on Tuesday, April 1st. Mizuho lifted their price objective on shares of MongoDB from $275.00 to $320.00 and gave the stock a "neutral" rating in a research report on Tuesday, December 10th. KeyCorp lowered MongoDB from a "strong-buy" rating to a "hold" rating in a report on Wednesday, March 5th. Piper Sandler lowered their price target on MongoDB from $425.00 to $280.00 and set an "overweight" rating on the stock in a report on Thursday, March 6th. Finally, Daiwa Capital Markets began coverage on MongoDB in a research note on Tuesday, April 1st. They set an "outperform" rating and a $202.00 target price on the stock. Seven equities research 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $312.84.

MongoDB 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.