Sycomore Asset Management Purchases 24,827 Shares of MongoDB, Inc. (NASDAQ:MDB)

Sycomore Asset Management lifted its holdings in MongoDB, Inc. (NASDAQ:MDB - Free Report) by 86.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 53,568 shares of the company's stock after purchasing an additional 24,827 shares during the period. MongoDB accounts for approximately 2.3% of Sycomore Asset Management's portfolio, making the stock its 12th biggest holding. Sycomore Asset Management owned 0.07% of MongoDB worth $12,884,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Vanguard Group Inc. increased its stake in MongoDB by 2.9% during the fourth quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company's stock valued at $2,797,521,000 after acquiring an additional 194,148 shares during the period. Prudential PLC boosted its stake in MongoDB by 2.4% during the fourth quarter. Prudential PLC now owns 21,169 shares of the company's stock worth $8,655,000 after buying an additional 489 shares in the last quarter. Bornite Capital Management LP acquired a new stake in MongoDB during the fourth quarter worth $6,133,000. Pinebridge Investments L.P. increased its holdings in MongoDB by 75.1% in the 4th quarter. Pinebridge Investments L.P. now owns 20,845 shares of the company's stock valued at $8,522,000 after buying an additional 8,937 shares during the period. Finally, Cetera Investment Advisers increased its stake in MongoDB by 327.6% in the first quarter. Cetera Investment Advisers now owns 10,873 shares of the company's stock valued at $3,899,000 after acquiring an additional 8,330 shares during the period. Institutional investors and hedge funds own 89.29% of the company's stock.

Insider Activity

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the business's stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $252.23, for a total value of $1,261,150.00. Following the sale, the chief financial officer now directly owns 81,942 shares of the company's stock, valued at approximately $20,668,230.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the business's stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $290.40, for a total transaction of $290,400.00. Following the sale, the director now directly owns 1,138,006 shares of the company's stock, valued at approximately $330,476,942.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Michael Lawrence Gordon sold 5,000 shares of MongoDB stock in a transaction dated Tuesday, July 9th. The shares were sold at an average price of $252.23, for a total value of $1,261,150.00. Following the completion of the sale, the chief financial officer now directly owns 81,942 shares in the company, valued at approximately $20,668,230.66. The disclosure for this sale can be found here. Insiders sold 12,000 shares of company stock valued at $3,168,810 in the last quarter. Company insiders own 3.60% of the company's stock.

MongoDB Trading Down 4.7 %

MDB traded down $12.72 during midday trading on Tuesday, reaching $257.63. 1,217,342 shares of the company were exchanged, compared to its average volume of 1,464,136. The stock has a market capitalization of $18.90 billion, a P/E ratio of -91.68 and a beta of 1.15. The stock's 50-day simple moving average is $261.58 and its 200 day simple moving average is $292.76. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on MDB shares. Oppenheimer lifted their price objective on MongoDB from $300.00 to $350.00 and gave the company an "outperform" rating in a report on Friday, August 30th. Needham & Company LLC upped their price target on MongoDB from $290.00 to $335.00 and gave the company a "buy" rating in a research report on Friday, August 30th. Piper Sandler lifted their price objective on MongoDB from $300.00 to $335.00 and gave the company an "overweight" rating in a report on Friday, August 30th. Tigress Financial dropped their target price on shares of MongoDB from $500.00 to $400.00 and set a "buy" rating for the company in a research report on Thursday, July 11th. Finally, DA Davidson lifted their price target on shares of MongoDB from $265.00 to $330.00 and gave the company a "buy" rating in a report on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $337.56.

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.