Versor Investments LP Makes New Investment in MongoDB, Inc. $MDB

Versor Investments LP bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, HoldingsChannel reports. The fund bought 1,684 shares of the company’s stock, valued at approximately $707,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in shares of MongoDB by 5.0% during the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after buying an additional 431,382 shares during the last quarter. ValueAct Holdings L.P. grew its stake in shares of MongoDB by 206.8% during the third quarter. ValueAct Holdings L.P. now owns 2,118,200 shares of the company’s stock worth $657,447,000 after buying an additional 1,427,700 shares during the last quarter. State Street Corp grew its stake in shares of MongoDB by 3.7% during the third quarter. State Street Corp now owns 1,756,628 shares of the company’s stock worth $545,222,000 after buying an additional 63,434 shares during the last quarter. Amundi grew its stake in shares of MongoDB by 61.3% during the third quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after buying an additional 563,995 shares during the last quarter. Finally, Jericho Capital Asset Management L.P. grew its stake in shares of MongoDB by 162.1% during the third quarter. Jericho Capital Asset Management L.P. now owns 1,378,540 shares of the company’s stock worth $427,871,000 after buying an additional 852,540 shares during the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Down 1.9%

Shares of MongoDB stock opened at $302.94 on Thursday. MongoDB, Inc. has a twelve month low of $182.43 and a twelve month high of $444.72. The stock has a market cap of $24.35 billion, a price-to-earnings ratio of -344.25 and a beta of 1.48. The company’s fifty day moving average is $260.14 and its 200 day moving average is $336.15.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The company had revenue of $695.07 million for the quarter, compared to analysts’ expectations of $669.40 million. During the same quarter in the previous year, the firm posted $1.28 earnings per share. MongoDB’s revenue for the quarter was up 26.8% on a year-over-year basis. As a group, equities analysts anticipate that MongoDB, Inc. will post -0.46 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Wedbush decreased their target price on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 3rd. Truist Financial decreased their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Robert W. Baird reaffirmed a “neutral” rating and set a $260.00 target price (down from $500.00) on shares of MongoDB in a research note on Tuesday, March 3rd. Cantor Fitzgerald reduced their price objective on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 3rd. Finally, UBS Group reduced their price objective on shares of MongoDB from $440.00 to $275.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Twenty-six equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus target price of $363.58.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $290.06, for a total transaction of $580,120.00. Following the sale, the director owned 1,003,316 shares of the company’s stock, valued at approximately $291,021,838.96. This represents a 0.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total transaction of $390,450.78. Following the sale, the director directly owned 24,093 shares in the company, valued at $6,007,107.69. This trade represents a 6.10% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 15,566 shares of company stock worth $3,875,011. 3.10% of the stock is currently owned by insiders.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.