Eminence Capital LP Invests $134.41 Million in MongoDB, Inc. $MDB

Eminence Capital LP acquired a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 433,045 shares of the company’s stock, valued at approximately $134,409,000. MongoDB makes up 1.6% of Eminence Capital LP’s holdings, making the stock its 26th biggest position. Eminence Capital LP owned approximately 0.53% of MongoDB as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Huntington National Bank boosted its holdings in shares of MongoDB by 110.9% in the third quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. TD Private Client Wealth LLC raised its position in MongoDB by 2,825.0% during the 3rd quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after purchasing an additional 113 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of MongoDB in the 3rd quarter worth $37,000. Westside Investment Management Inc. lifted its holdings in shares of MongoDB by 82.1% in the 3rd quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after buying an additional 55 shares during the period. Finally, Parkside Financial Bank & Trust grew its position in shares of MongoDB by 85.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 141 shares of the company’s stock worth $44,000 after buying an additional 65 shares in the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on MDB. Canaccord Genuity Group decreased their price objective on MongoDB from $455.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Wedbush cut their target price on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Piper Sandler reduced their price target on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Raymond James Financial began coverage on shares of MongoDB in a research report on Monday, December 15th. They issued a “market perform” rating for the company. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of MongoDB in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average price target of $354.18.

Insider Buying and Selling at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the sale, the director owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total value of $4,077,000.00. Following the sale, the director owned 1,031,316 shares in the company, valued at $420,467,533.20. The trade was a 0.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 21,949 shares of company stock worth $8,981,630. 3.10% of the stock is owned by company insiders.

MongoDB Stock Performance

MDB stock opened at $260.50 on Friday. The firm has a 50-day simple moving average of $354.08 and a two-hundred day simple moving average of $353.70. MongoDB, Inc. has a one year low of $140.78 and a one year high of $444.72. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.18. The business had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. As a group, equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal 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.