OMERS ADMINISTRATION Corp Grows Stock Position in MongoDB, Inc. (NASDAQ:MDB)

OMERS ADMINISTRATION Corp increased its stake in MongoDB, Inc. (NASDAQ:MDB) by 20.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,032 shares of the company’s stock after purchasing an additional 514 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in MongoDB were worth $706,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of MongoDB by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares in the last quarter. Franklin Resources Inc. grew its position in shares of MongoDB by 9.7% in the fourth quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after purchasing an additional 181,962 shares in the last quarter. Geode Capital Management LLC grew its position in shares of MongoDB by 1.8% in the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares in the last quarter. First Trust Advisors LP grew its position in shares of MongoDB by 12.6% in the fourth quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of MongoDB in the fourth quarter valued at $189,584,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Up 0.4%

Shares of MDB stock opened at $191.29 on Friday. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $379.06. The business has a 50-day moving average price of $174.91 and a two-hundred day moving average price of $238.95. The firm has a market cap of $15.53 billion, a P/E ratio of -69.81 and a beta of 1.49.

MongoDB (NASDAQ:MDB) last released its earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share 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 during the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the firm posted $0.86 EPS. As a group, research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on MDB. Daiwa America upgraded MongoDB to a “strong-buy” rating in a research report on Tuesday, April 1st. Scotiabank reiterated a “sector perform” rating and issued a $160.00 price target (down from $240.00) on shares of MongoDB in a research report on Friday, April 25th. Loop Capital reduced their target price on MongoDB from $400.00 to $350.00 and set a “buy” rating for the company in a research report on Monday, March 3rd. Morgan Stanley reduced their target price on MongoDB from $315.00 to $235.00 and set an “overweight” rating for the company in a research report on Wednesday, April 16th. Finally, China Renaissance started coverage on MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Eight analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average price target of $293.91.

Insider Activity

In other news, CEO Dev Ittycheria sold 18,512 shares of MongoDB stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now directly owns 268,948 shares in the company, valued at approximately $46,597,930.48. This trade represents a 6.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Srdjan Tanjga sold 525 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $90,961.50. Following the transaction, the chief financial officer now owns 6,406 shares of the company’s stock, valued at approximately $1,109,903.56. This represents a 7.57% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,423 shares of company stock valued at $7,148,369. Insiders own 3.60% of the company’s stock.

MongoDB 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.