Spyglass Capital Management LLC Purchases 79,456 Shares of MongoDB, Inc. (NASDAQ:MDB)

Spyglass Capital Management LLC grew its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 50.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 235,971 shares of the company’s stock after purchasing an additional 79,456 shares during the period. MongoDB makes up about 4.2% of Spyglass Capital Management LLC’s holdings, making the stock its 8th largest holding. Spyglass Capital Management LLC owned about 0.32% of MongoDB worth $63,795,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the company. MFA Wealth Advisors LLC acquired a new stake in shares of MongoDB in the second quarter valued at $25,000. J.Safra Asset Management Corp increased its holdings in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after buying an additional 116 shares during the last quarter. Quarry LP increased its holdings in MongoDB by 2,580.0% in the second quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after buying an additional 129 shares during the last quarter. Hantz Financial Services Inc. purchased a new position in MongoDB in the second quarter valued at $35,000. Finally, Brooklyn Investment Group purchased a new position in MongoDB in the third quarter valued at $36,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

MDB stock opened at $324.60 on Friday. The firm has a 50 day moving average of $282.65 and a 200-day moving average of $272.02. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The company had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same period last year, the firm earned ($0.63) EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. As a group, research analysts expect that MongoDB, Inc. will post -2.37 EPS for the current year.

Insider Activity

In related news, CFO Michael Lawrence Gordon sold 1,884 shares of MongoDB stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total transaction of $482,775.00. Following the completion of the transaction, the chief financial officer now directly owns 80,307 shares in the company, valued at $20,578,668.75. The trade was a 2.29 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of MongoDB stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $282.89, for a total value of $282,890.00. Following the transaction, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at $4,589,041.58. This represents a 5.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 26,600 shares of company stock worth $7,442,189. Company insiders own 3.60% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on MDB shares. Wedbush raised MongoDB to a “strong-buy” rating in a report on Thursday, October 17th. Bank of America raised their price objective on MongoDB from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Friday, August 30th. JMP Securities reaffirmed a “market outperform” rating and set a $380.00 price objective on shares of MongoDB in a report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 price objective on shares of MongoDB in a report on Friday, August 30th. Finally, Sanford C. Bernstein raised their price objective on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $340.29.

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.