Point72 Hong Kong Ltd Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Point72 Hong Kong Ltd grew its position in MongoDB, Inc. (NASDAQ:MDB) by 14.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,599 shares of the company’s stock after purchasing an additional 4,141 shares during the period. Point72 Hong Kong Ltd’s holdings in MongoDB were worth $7,822,000 at the end of the most recent reporting period.

Other institutional investors also recently added to or reduced their stakes in the company. Polar Asset Management Partners Inc. bought a new position in MongoDB during the fourth quarter worth about $14,458,000. ProShare Advisors LLC boosted its position in MongoDB by 20.2% during the fourth quarter. ProShare Advisors LLC now owns 84,911 shares of the company’s stock worth $19,768,000 after purchasing an additional 14,260 shares during the period. Quantinno Capital Management LP boosted its position in MongoDB by 100.2% during the fourth quarter. Quantinno Capital Management LP now owns 14,262 shares of the company’s stock worth $3,321,000 after purchasing an additional 7,137 shares during the period. Man Group plc boosted its position in MongoDB by 94.7% during the fourth quarter. Man Group plc now owns 66,645 shares of the company’s stock worth $15,516,000 after purchasing an additional 32,411 shares during the period. Finally, Nissay Asset Management Corp Japan ADV boosted its position in MongoDB by 3.5% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 16,543 shares of the company’s stock worth $3,943,000 after purchasing an additional 558 shares during the period. Institutional investors own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on MDB shares. Citigroup cut their target price on shares of MongoDB from $430.00 to $330.00 and set a “buy” rating for the company in a research report on Tuesday, April 1st. Mizuho cut their price objective on shares of MongoDB from $250.00 to $190.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Cantor Fitzgerald started coverage on shares of MongoDB in a research report on Wednesday, March 5th. They issued an “overweight” rating and a $344.00 price objective for the company. Canaccord Genuity Group cut their price objective on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research report on Thursday, March 6th. Finally, Daiwa America upgraded shares of MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Eight analysts have rated the stock with a hold rating, twenty-four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $294.78.

Insiders Place Their Bets

In other news, insider Cedric Pech sold 1,690 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total transaction of $292,809.40. Following the completion of the transaction, the insider now directly owns 57,634 shares in the company, valued at approximately $9,985,666.84. This represents a 2.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Thomas Bull sold 301 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.25, for a total value of $52,148.25. Following the transaction, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at $2,529,103.50. This represents 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 34,423 shares of company stock valued at $7,148,369. 3.60% of the stock is owned by insiders.

MongoDB Stock Down 1.1%

Shares of NASDAQ MDB opened at $193.74 on Thursday. MongoDB, Inc. has a 52 week low of $140.78 and a 52 week high of $379.06. The firm’s fifty day moving average is $174.68 and its 200 day moving average is $240.73. The company has a market cap of $15.73 billion, a price-to-earnings ratio of -70.71 and a beta of 1.49.

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

MongoDB Company Profile

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.