Melqart Asset Management UK Ltd Makes New $9.51 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Melqart Asset Management UK Ltd purchased a new position in MongoDB, Inc. (NASDAQ:MDB - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 40,857 shares of the company's stock, valued at approximately $9,512,000. MongoDB makes up approximately 1.1% of Melqart Asset Management UK Ltd's portfolio, making the stock its 25th largest holding. Melqart Asset Management UK Ltd owned 0.05% of MongoDB at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in MDB. Morse Asset Management Inc bought a new position in shares of MongoDB during the 3rd quarter worth approximately $81,000. Virtu Financial LLC lifted its holdings in shares of MongoDB by 351.2% during the 3rd quarter. Virtu Financial LLC now owns 10,016 shares of the company's stock valued at $2,708,000 after purchasing an additional 7,796 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of MongoDB in the 3rd quarter worth $44,000. Tidal Investments LLC boosted its holdings in MongoDB by 76.8% in the third quarter. Tidal Investments LLC now owns 7,859 shares of the company's stock worth $2,125,000 after acquiring an additional 3,415 shares in the last quarter. Finally, Principal Financial Group Inc. grew its position in MongoDB by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company's stock worth $1,648,000 after purchasing an additional 160 shares during the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Performance

NASDAQ MDB opened at $173.50 on Friday. MongoDB, Inc. has a one year low of $140.78 and a one year high of $387.19. The business has a fifty day moving average price of $195.15 and a 200 day moving average price of $248.95. The company has a market cap of $14.09 billion, a P/E ratio of -63.32 and a beta of 1.49.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $548.40 million during the quarter, compared to analysts' expectations of $519.65 million. During the same period in the prior year, the business posted $0.86 earnings per share. As a group, sell-side analysts predict that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

MDB has been the topic of several research reports. Rosenblatt Securities reissued a "buy" rating and issued a $350.00 target price on shares of MongoDB in a research report on Tuesday, March 4th. Truist Financial reduced their price objective on MongoDB from $300.00 to $275.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Redburn Atlantic upgraded MongoDB from a "sell" rating to a "neutral" rating and set a $170.00 target price on the stock in a research report on Thursday, April 17th. Oppenheimer reduced their price target on shares of MongoDB from $400.00 to $330.00 and set an "outperform" rating for the company in a research report on Thursday, March 6th. Finally, Monness Crespi & Hardt raised shares of MongoDB from a "sell" rating to a "neutral" rating in a report on Monday, March 3rd. Eight research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and an average price target of $294.78.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of the business's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $266.00, for a total value of $798,000.00. Following the sale, the director now directly owns 1,113,006 shares in the company, valued at approximately $296,059,596. The trade was a 0.27 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dev Ittycheria sold 18,512 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the transaction, the chief executive officer now directly owns 268,948 shares of the company's stock, valued at approximately $46,597,930.48. This trade represents a 6.44 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,680 shares of company stock worth $10,819,027 in the last quarter. Company insiders own 3.60% of the company's stock.

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.

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