Crestline Management LP Takes $7.73 Million Position in MongoDB, Inc. (NASDAQ:MDB)

Crestline Management LP purchased a new position in MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 33,194 shares of the company’s stock, valued at approximately $7,728,000.

Several other institutional investors have also bought and sold shares of MDB. Wilmington Savings Fund Society FSB bought a new stake in shares of MongoDB in the third quarter valued at $44,000. Tidal Investments LLC increased its holdings in MongoDB by 76.8% in the 3rd quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock worth $2,125,000 after acquiring an additional 3,415 shares during the last quarter. Versant Capital Management Inc raised its stake in MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after acquiring an additional 165 shares during the period. Diversified Trust Co lifted its holdings in MongoDB by 31.0% during the fourth quarter. Diversified Trust Co now owns 6,919 shares of the company’s stock valued at $1,611,000 after purchasing an additional 1,639 shares during the last quarter. Finally, First Hawaiian Bank boosted its position in MongoDB by 18.3% during the fourth quarter. First Hawaiian Bank now owns 1,571 shares of the company’s stock worth $366,000 after purchasing an additional 243 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Up 0.8 %

NASDAQ:MDB opened at $172.96 on Tuesday. The firm has a market capitalization of $14.04 billion, a P/E ratio of -63.12 and a beta of 1.49. The company has a fifty day moving average of $182.85 and a 200 day moving average of $244.07. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $379.06.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.64 by ($0.45). The firm had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same period last year, the company posted $0.86 earnings per share. As a group, analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $3,207,389.12. Following the sale, the chief executive officer now owns 268,948 shares of the company’s stock, valued at approximately $46,597,930.48. The trade was a 6.44 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 301 shares of the stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total transaction of $52,148.25. Following the completion of the transaction, the chief accounting officer now directly owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. The trade was a 2.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 36,345 shares of company stock worth $7,687,310. 3.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on MDB. Needham & Company LLC lowered their price target on shares of MongoDB from $415.00 to $270.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Guggenheim upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $300.00 target price on the stock in a research report on Monday, January 6th. Piper Sandler reduced their price target on MongoDB from $280.00 to $200.00 and set an “overweight” rating for the company in a research report on Wednesday, April 23rd. The Goldman Sachs Group decreased their price objective on MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Finally, Barclays reduced their target price on MongoDB from $330.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday, March 6th. Eight investment analysts have rated the stock with a hold rating, twenty-four have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $294.78.

About MongoDB

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.