Connor Clark & Lunn Investment Management Ltd. Buys 45,056 Shares of MongoDB, Inc. $MDB

Connor Clark & Lunn Investment Management Ltd. raised its position in MongoDB, Inc. (NASDAQ:MDB) by 24.1% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 232,167 shares of the company’s stock after purchasing an additional 45,056 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in MongoDB were worth $72,060,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of MongoDB by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock worth $2,788,981,000 after purchasing an additional 431,382 shares during the period. State Street Corp lifted its holdings in MongoDB by 5.0% during the 2nd quarter. State Street Corp now owns 1,693,194 shares of the company’s stock worth $355,554,000 after purchasing an additional 80,334 shares in the last quarter. Geode Capital Management LLC boosted its holdings in MongoDB by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company’s stock valued at $292,597,000 after purchasing an additional 68,611 shares during the period. AQR Capital Management LLC boosted its stake in MongoDB by 2,567.2% during the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after buying an additional 1,069,969 shares during the period. Finally, Primecap Management Co. CA boosted its stake in MongoDB by 20.1% during the second quarter. Primecap Management Co. CA now owns 1,045,719 shares of the company’s stock valued at $219,591,000 after buying an additional 175,169 shares during the period. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total transaction of $660,617.10. Following the transaction, the director owned 25,659 shares in the company, valued at approximately $10,824,249.15. The trade was a 5.75% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Dwight A. Merriman sold 10,000 shares of MongoDB stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $417.83, for a total transaction of $4,178,300.00. Following the sale, the director owned 1,041,316 shares in the company, valued at approximately $435,093,064.28. The trade was a 0.95% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 31,949 shares of company stock worth $13,159,930. 3.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of research analyst reports. Mizuho decreased their target price on MongoDB from $380.00 to $290.00 and set a “neutral” rating on the stock in a research note on Tuesday, March 3rd. Sanford C. Bernstein downgraded MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. Truist Financial cut their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating for the company in a research report on Tuesday, March 3rd. Stifel Nicolaus reduced their price target on shares of MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, The Goldman Sachs Group reduced their price target on MongoDB from $475.00 to $320.00 and set a “buy” rating on the stock in a research report on Wednesday, March 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $354.18.

MongoDB Stock Up 0.0%

Shares of MDB stock opened at $270.57 on Thursday. The firm has a market capitalization of $22.02 billion, a PE ratio of -307.47 and a beta of 1.40. The company has a 50 day moving average price of $360.04 and a 200-day moving average price of $353.08. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $444.72.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $669.40 million. During the same period in the previous year, the business posted $1.28 earnings per share. The firm’s quarterly revenue was up 26.8% compared to the same quarter last year. Analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

About MongoDB

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.