Highland Capital Management LLC Buys Shares of 2,797 MongoDB, Inc. $MDB

Highland Capital Management LLC bought a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) in the 4th quarter, Holdings Channel.com reports. The fund bought 2,797 shares of the company’s stock, valued at approximately $1,174,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Ascent Wealth Partners LLC purchased a new position in MongoDB during the 4th quarter valued at about $308,000. Truist Financial Corp increased its holdings in MongoDB by 2.4% during the 4th quarter. Truist Financial Corp now owns 17,151 shares of the company’s stock valued at $7,198,000 after acquiring an additional 409 shares in the last quarter. Peregrine Asset Advisers Inc. purchased a new position in MongoDB during the 4th quarter valued at about $210,000. Strs Ohio increased its holdings in MongoDB by 784.9% during the 4th quarter. Strs Ohio now owns 16,689 shares of the company’s stock valued at $7,004,000 after acquiring an additional 14,803 shares in the last quarter. Finally, Cornerstone Planning Group LLC increased its holdings in MongoDB by 1,220.0% during the 4th quarter. Cornerstone Planning Group LLC now owns 66 shares of the company’s stock valued at $27,000 after acquiring an additional 61 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $266.68 on Wednesday. The company has a market cap of $21.43 billion, a PE ratio of -303.05 and a beta of 1.48. MongoDB, Inc. has a 12 month low of $169.26 and a 12 month high of $444.72. The company has a 50-day simple moving average of $263.31 and a 200-day simple moving average of $337.39.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, March 2nd. The company reported $1.65 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business had revenue of $695.07 million during the quarter, compared to the consensus estimate of $669.40 million. During the same period in the previous year, the firm posted $1.28 earnings per share. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. On average, analysts anticipate that MongoDB, Inc. will post -0.46 EPS for the current year.

Insider Activity at MongoDB

In related news, Director Hope F. Cochran sold 1,566 shares of the firm’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $249.33, for a total value of $390,450.78. Following the sale, the director directly owned 24,093 shares of the company’s stock, valued at approximately $6,007,107.69. This trade represents a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Dwight A. Merriman sold 4,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $252.33, for a total transaction of $1,009,320.00. Following the completion of the sale, the director directly owned 476,896 shares in the company, valued at $120,335,167.68. This represents a 0.83% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 13,566 shares of company stock worth $3,294,891 over the last three months. Corporate insiders own 3.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on MDB shares. DA Davidson dropped their target price on shares of MongoDB from $465.00 to $385.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. BMO Capital Markets restated an “outperform” rating and set a $340.00 target price (down from $400.00) on shares of MongoDB in a report on Tuesday, March 3rd. Monness Crespi & Hardt dropped their target price on shares of MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Royal Bank Of Canada dropped their target price on shares of MongoDB from $500.00 to $395.00 and set an “outperform” rating for the company in a report on Tuesday, March 3rd. Finally, Stifel Nicolaus lowered their price target on shares of MongoDB from $450.00 to $330.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. Twenty-six investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $361.97.

MongoDB 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.