AGF Management Ltd. Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

AGF Management Ltd. purchased a new stake in MongoDB, Inc. (NASDAQ:MDB - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 6,415 shares of the company's stock, valued at approximately $1,493,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Jennison Associates LLC grew its position in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock valued at $838,632,000 after buying an additional 592,038 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of MongoDB by 2.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock valued at $331,776,000 after purchasing an additional 34,814 shares in the last quarter. Amundi boosted its position in shares of MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company's stock valued at $172,519,000 after purchasing an additional 321,186 shares in the last quarter. Westfield Capital Management Co. LP boosted its position in shares of MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company's stock valued at $134,161,000 after purchasing an additional 7,526 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of MongoDB during the 4th quarter valued at about $90,478,000. Institutional investors own 89.29% of the company's stock.

MongoDB Price Performance

Shares of MongoDB stock traded up $1.38 during trading hours on Wednesday, reaching $190.06. The company had a trading volume of 1,665,873 shares, compared to its average volume of 1,692,784. MongoDB, Inc. has a one year low of $173.13 and a one year high of $387.19. The business has a fifty day simple moving average of $254.38 and a 200 day simple moving average of $271.46. The firm has a market cap of $14.15 billion, a PE ratio of -69.36 and a beta of 1.30.

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

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the sale, the director now owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Dev Ittycheria sold 8,335 shares of the stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $267.48, for a total value of $2,229,445.80. Following the completion of the sale, the chief executive officer now owns 217,294 shares in the company, valued at $58,121,799.12. This trade represents a 3.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,139 shares of company stock valued at $11,328,869 over the last three months. Company insiders own 3.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on MDB shares. Macquarie dropped their price target on MongoDB from $300.00 to $215.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Truist Financial dropped their price target on MongoDB from $400.00 to $300.00 and set a "buy" rating on the stock in a research note on Thursday, March 6th. KeyCorp downgraded MongoDB from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, March 5th. UBS Group set a $350.00 price objective on MongoDB in a research note on Tuesday, March 4th. Finally, Morgan Stanley lowered their price objective on MongoDB from $350.00 to $315.00 and set an "overweight" rating for the company in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $319.87.

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.