Kornitzer Capital Management Inc. KS Makes New Investment in MongoDB, Inc. (NASDAQ:MDB)

Kornitzer Capital Management Inc. KS purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,225 shares of the company's stock, valued at approximately $285,000.

Several other hedge funds also recently made changes to their positions in MDB. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company's stock worth $30,000 after purchasing an additional 42 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of MongoDB during the third quarter valued at approximately $36,000. Continuum Advisory LLC increased its stake in shares of MongoDB by 621.1% in the third quarter. Continuum Advisory LLC now owns 137 shares of the company's stock worth $40,000 after buying an additional 118 shares during the last quarter. Versant Capital Management Inc increased its stake in shares of MongoDB by 1,100.0% in the fourth 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 last quarter. Finally, Wilmington Savings Fund Society FSB bought a new stake in MongoDB during the third quarter valued at $44,000. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Buying and Selling

In other MongoDB news, CEO Dev Ittycheria sold 2,581 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $604,186.29. Following the sale, the chief executive officer now directly owns 217,294 shares of the company's stock, valued at approximately $50,866,352.46. The trade was a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Thomas Bull sold 169 shares of the company's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares in the company, valued at approximately $3,487,706.91. The trade was a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 43,979 shares of company stock valued at $11,963,757. 3.60% of the stock is owned by insiders.

MongoDB Price Performance

MDB traded down $15.85 on Friday, hitting $274.16. 827,423 shares of the stock were exchanged, compared to its average volume of 1,481,406. The firm has a market capitalization of $20.42 billion, a price-to-earnings ratio of -100.06 and a beta of 1.28. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $459.70. The business has a 50-day moving average of $261.59 and a two-hundred day moving average of $273.25.

MongoDB (NASDAQ:MDB - Get Free Report) last released its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same quarter in the prior year, the firm posted $0.96 earnings per share. The firm's revenue was up 22.3% compared to the same quarter last year. Equities research analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on MDB shares. Guggenheim raised shares of MongoDB from a "neutral" rating to a "buy" rating and set a $300.00 price objective for the company in a report on Monday, January 6th. Tigress Financial boosted their target price on shares of MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Piper Sandler restated an "overweight" rating and issued a $425.00 price objective on shares of MongoDB in a research note on Tuesday, December 10th. Barclays decreased their price objective on shares of MongoDB from $400.00 to $330.00 and set an "overweight" rating on the stock in a report on Friday, January 10th. Finally, Mizuho raised their target price on shares of MongoDB from $275.00 to $320.00 and gave the company a "neutral" rating in a research note on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $361.00.

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.