Stanley Laman Group Ltd. Makes New $7.52 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Stanley Laman Group Ltd. bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 32,301 shares of the company's stock, valued at approximately $7,520,000. MongoDB comprises approximately 1.1% of Stanley Laman Group Ltd.'s holdings, making the stock its 16th largest position.

A number of other institutional investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company's stock worth $838,632,000 after purchasing an additional 592,038 shares during the period. Geode Capital Management LLC boosted its position in MongoDB by 2.9% during the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company's stock worth $331,776,000 after purchasing an additional 34,814 shares during the period. Westfield Capital Management Co. LP boosted its position in MongoDB by 1.5% during the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company's stock worth $134,161,000 after purchasing an additional 7,526 shares during the period. Holocene Advisors LP boosted its position in MongoDB by 22.6% during the third quarter. Holocene Advisors LP now owns 362,603 shares of the company's stock worth $98,030,000 after purchasing an additional 66,730 shares during the period. Finally, Assenagon Asset Management S.A. boosted its position in MongoDB by 11,057.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company's stock worth $69,119,000 after purchasing an additional 294,228 shares during the period. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on MDB shares. Citigroup lifted their price objective on shares of MongoDB from $400.00 to $430.00 and gave the stock a "buy" rating in a research report on Monday, December 16th. Royal Bank of Canada boosted their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an "outperform" rating in a research report on Tuesday, December 10th. Piper Sandler reissued an "overweight" rating and issued a $425.00 target price on shares of MongoDB in a research report on Tuesday, December 10th. Scotiabank reduced their target price on shares of MongoDB from $350.00 to $275.00 and set a "sector perform" rating for the company in a research report on Tuesday, January 21st. Finally, Wells Fargo & Company boosted their target price on shares of MongoDB from $350.00 to $425.00 and gave the company an "overweight" rating in a research report on Tuesday, December 10th. Two analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have given a buy rating and two have given a strong buy rating to the company. According to MarketBeat, MongoDB has a consensus rating of "Moderate Buy" and a consensus target price of $361.00.

Insider Activity at MongoDB

In related news, insider Cedric Pech sold 287 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $349.17, for a total value of $698,340.00. Following the completion of the transaction, the director now owns 1,124,006 shares in the company, valued at approximately $392,469,175.02. This represents a 0.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 43,094 shares of company stock worth $11,705,293 over the last ninety days. Insiders own 3.60% of the company's stock.

MongoDB Stock Performance

Shares of MongoDB stock traded down $3.34 on Friday, hitting $289.63. The stock had a trading volume of 1,247,880 shares, compared to its average volume of 1,481,443. The stock has a 50 day moving average of $262.66 and a 200 day moving average of $272.02. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $488.00.

MongoDB (NASDAQ:MDB - Get Free Report) last announced its earnings results on Monday, December 9th. The company reported $1.16 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 business had revenue of $529.40 million for the quarter, compared to analysts' expectations of $497.39 million. During the same period in the prior year, the business posted $0.96 earnings per share. The firm's revenue was up 22.3% on a year-over-year basis. On average, equities research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

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.