MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by Red Spruce Capital LLC

Red Spruce Capital LLC lifted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 51.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,107 shares of the company’s stock after buying an additional 4,104 shares during the quarter. Red Spruce Capital LLC’s holdings in MongoDB were worth $2,124,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in MDB. HighTower Advisors LLC raised its stake in shares of MongoDB by 2.0% during the fourth quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after purchasing an additional 372 shares during the last quarter. Jones Financial Companies Lllp increased its stake in MongoDB by 68.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock valued at $237,000 after buying an additional 413 shares during the period. Smartleaf Asset Management LLC increased its stake in MongoDB by 56.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock valued at $87,000 after buying an additional 134 shares during the period. Clear Creek Financial Management LLC purchased a new position in MongoDB during the 4th quarter worth $295,000. Finally, Steward Partners Investment Advisory LLC lifted its stake in shares of MongoDB by 12.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,168 shares of the company’s stock worth $272,000 after acquiring an additional 133 shares during the period. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $270.63, for a total transaction of $811,890.00. Following the completion of the sale, the director now owns 1,109,006 shares of the company’s stock, valued at approximately $300,130,293.78. This represents a 0.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Cedric Pech sold 1,690 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $292,809.40. Following the completion of the sale, the insider now directly owns 57,634 shares in the company, valued at $9,985,666.84. This trade represents a 2.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,203 shares of company stock worth $4,660,459 over the last ninety days. Insiders own 3.60% of the company’s stock.

MongoDB Price Performance

Shares of MongoDB stock opened at $189.36 on Friday. The company has a market capitalization of $15.37 billion, a P/E ratio of -69.11 and a beta of 1.49. The business has a 50-day moving average of $174.52 and a two-hundred day moving average of $234.21. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00.

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

Analyst Ratings Changes

Several analysts have recently commented on the company. Robert W. Baird reduced their price target on MongoDB from $390.00 to $300.00 and set an “outperform” rating for the company in a report on Thursday, March 6th. Redburn Atlantic raised MongoDB from a “sell” rating to a “neutral” rating and set a $170.00 target price for the company in a report on Thursday, April 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 price target on shares of MongoDB in a research note on Tuesday, March 4th. Stifel Nicolaus reduced their price objective on shares of MongoDB from $340.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, April 11th. Finally, Daiwa Capital Markets began coverage on shares of MongoDB in a report on Tuesday, April 1st. They set an “outperform” rating and a $202.00 price objective on the stock. Nine research analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $286.88.

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.