Thematics Asset Management Decreases Stake in MongoDB, Inc. $MDB

Thematics Asset Management lowered its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.3% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 104,601 shares of the company’s stock after selling 8,212 shares during the period. MongoDB makes up approximately 1.5% of Thematics Asset Management’s holdings, making the stock its 16th biggest position. Thematics Asset Management’s holdings in MongoDB were worth $32,466,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of MDB. Vanguard Group Inc. lifted its holdings in MongoDB by 5.0% in the third quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock valued at $2,788,981,000 after acquiring an additional 431,382 shares during the period. State Street Corp lifted its holdings in MongoDB by 5.0% during the second quarter. State Street Corp now owns 1,693,194 shares of the company’s stock valued at $355,554,000 after purchasing an additional 80,334 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of MongoDB by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company’s stock valued at $292,597,000 after buying an additional 68,611 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after acquiring an additional 1,069,969 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in MongoDB by 162.3% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 1,097,059 shares of the company’s stock worth $340,505,000 after purchasing an additional 678,746 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Argus raised their target price on shares of MongoDB from $340.00 to $488.00 and gave the company a “buy” rating in a research note on Thursday, December 4th. Zacks Research cut MongoDB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Morgan Stanley increased their price target on MongoDB from $400.00 to $440.00 and gave the company an “overweight” rating in a research note on Tuesday, December 2nd. UBS Group lowered their target price on MongoDB from $440.00 to $275.00 and set a “neutral” rating for the company in a research report on Tuesday, March 3rd. Finally, DA Davidson reduced their price target on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $354.18.

MongoDB Stock Performance

Shares of MDB stock opened at $260.50 on Friday. The stock has a 50 day moving average price of $354.08 and a 200 day moving average price of $352.74. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $444.72. The firm has a market capitalization of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 EPS for the quarter, beating the consensus estimate of $1.47 by $0.18. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company had revenue of $695.07 million for the quarter, compared to the consensus estimate of $669.40 million. During the same quarter in the prior year, the company posted $1.28 EPS. MongoDB’s quarterly revenue was up 26.8% on a year-over-year basis. As a group, sell-side analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current year.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the completion of the sale, the director owned 80,462 shares in the company, valued at approximately $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the transaction, the director owned 25,659 shares in the company, valued at $10,824,249.15. The trade was a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 21,949 shares of company stock valued at $8,981,630. 3.10% of the stock is owned by corporate 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.