Clearline Capital LP Invests $3.09 Million in MongoDB, Inc. (NASDAQ:MDB)

Clearline Capital LP acquired a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 12,342 shares of the company's stock, valued at approximately $3,085,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of MongoDB by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company's stock valued at $2,478,475,000 after buying an additional 68,348 shares during the last quarter. Jennison Associates LLC boosted its holdings in shares of MongoDB by 14.3% during the 1st quarter. Jennison Associates LLC now owns 4,408,424 shares of the company's stock worth $1,581,037,000 after purchasing an additional 551,567 shares during the last quarter. Swedbank AB boosted its holdings in shares of MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company's stock worth $164,222,000 after purchasing an additional 400,705 shares during the last quarter. Champlain Investment Partners LLC lifted its holdings in MongoDB by 22.4% in the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company's stock valued at $197,497,000 after acquiring an additional 100,725 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company's stock valued at $224,480,000 after acquiring an additional 204,284 shares during the last quarter. Institutional investors own 89.29% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on MDB. Morgan Stanley upped their price objective on MongoDB from $320.00 to $340.00 and gave the company an "overweight" rating in a report on Friday, August 30th. Citigroup upped their price objective on MongoDB from $350.00 to $400.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Bank of America boosted their target price on MongoDB from $300.00 to $350.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Truist Financial boosted their target price on MongoDB from $300.00 to $320.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Finally, Guggenheim raised MongoDB from a "sell" rating to a "neutral" rating in a research report on Monday, June 3rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company. According to MarketBeat.com, MongoDB presently has an average rating of "Moderate Buy" and an average price target of $337.56.

MongoDB Stock Down 1.1 %

MDB stock traded down $3.12 during midday trading on Friday, reaching $269.53. The company had a trading volume of 698,112 shares, compared to its average volume of 1,468,700. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. The company has a market capitalization of $19.77 billion, a P/E ratio of -95.92 and a beta of 1.15. The company has a 50 day moving average of $261.22 and a two-hundred day moving average of $294.01.

MongoDB (NASDAQ:MDB - Get Free Report) last posted its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.49 by $0.21. The business had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB's revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business posted ($0.63) EPS. On average, equities research analysts expect that MongoDB, Inc. will post -2.44 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CRO Cedric Pech sold 273 shares of the business's stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $72,424.17. Following the completion of the transaction, the executive now directly owns 35,719 shares of the company's stock, valued at $9,475,893.51. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other MongoDB news, CRO Cedric Pech sold 273 shares of the company's stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the sale, the executive now directly owns 35,719 shares of the company's stock, valued at $9,475,893.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 138 shares of the company's stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $36,610.02. Following the completion of the transaction, the chief accounting officer now owns 17,222 shares in the company, valued at $4,568,824.38. The disclosure for this sale can be found here. Insiders sold 21,005 shares of company stock valued at $5,557,746 in the last ninety days. Insiders own 3.60% of the company's stock.

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.