Bayesian Capital Management LP Makes New $2.38 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Bayesian Capital Management LP purchased a new position in MongoDB, Inc. (NASDAQ:MDB) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 6,629 shares of the company’s stock, valued at approximately $2,377,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in MongoDB during the fourth quarter valued at $326,237,000. Jennison Associates LLC increased its holdings in MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock valued at $1,581,037,000 after buying an additional 551,567 shares in the last quarter. Axiom Investors LLC DE purchased a new position in MongoDB in the fourth quarter valued at $153,990,000. Clearbridge Investments LLC increased its holdings in MongoDB by 109.0% in the first quarter. Clearbridge Investments LLC now owns 445,084 shares of the company’s stock valued at $159,625,000 after buying an additional 232,101 shares in the last quarter. Finally, First Trust Advisors LP increased its holdings in MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock valued at $224,480,000 after buying an additional 204,284 shares in the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at MongoDB

In other news, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares in the company, valued at approximately $4,568,824.38. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Dwight A. Merriman sold 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $379.15, for a total value of $379,150.00. Following the transaction, the director now directly owns 522,896 shares in the company, valued at approximately $198,256,018.40. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 138 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $36,610.02. Following the sale, the chief accounting officer now directly owns 17,222 shares in the company, valued at $4,568,824.38. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,179 shares of company stock worth $9,535,839. 3.60% of the stock is currently owned by insiders.

MongoDB Trading Down 3.3 %

NASDAQ:MDB traded down $8.41 on Tuesday, hitting $243.10. The stock had a trading volume of 915,176 shares, compared to its average volume of 1,521,863. The company has a quick ratio of 4.93, a current ratio of 4.93 and a debt-to-equity ratio of 0.90. The stock has a market cap of $17.83 billion, a price-to-earnings ratio of -89.51 and a beta of 1.13. The company has a fifty day moving average price of $258.94 and a two-hundred day moving average price of $344.67. MongoDB, Inc. has a 1-year low of $214.74 and a 1-year high of $509.62.

MongoDB (NASDAQ:MDB) last posted its earnings results on Thursday, May 30th. The company reported ($0.80) earnings per share for the quarter, meeting the consensus estimate of ($0.80). The company had revenue of $450.56 million for the quarter, compared to analyst estimates of $438.44 million. MongoDB had a negative net margin of 11.50% and a negative return on equity of 14.88%. Equities research analysts expect that MongoDB, Inc. will post -2.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Needham & Company LLC reaffirmed a “buy” rating and issued a $290.00 price objective on shares of MongoDB in a report on Thursday, June 13th. Scotiabank cut their price objective on shares of MongoDB from $385.00 to $250.00 and set a “sector perform” rating for the company in a report on Monday, June 3rd. KeyCorp cut their price objective on shares of MongoDB from $490.00 to $440.00 and set an “overweight” rating for the company in a report on Thursday, April 18th. Robert W. Baird cut their target price on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating for the company in a research note on Friday, May 31st. Finally, Bank of America cut their target price on shares of MongoDB from $500.00 to $470.00 and set a “buy” rating for the company in a research note on Friday, May 17th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, MongoDB currently has an average rating of “Moderate Buy” and a consensus price target of $355.74.

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.