Banco Santander S.A. Grows Stake in MongoDB, Inc. (NASDAQ:MDB)

Banco Santander S.A. boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 23.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,866 shares of the company’s stock after acquiring an additional 738 shares during the quarter. Banco Santander S.A.’s holdings in MongoDB were worth $900,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Bank Julius Baer & Co. Ltd Zurich increased its position in shares of MongoDB by 13.0% during the 4th quarter. Bank Julius Baer & Co. Ltd Zurich now owns 62,335 shares of the company’s stock valued at $14,739,000 after purchasing an additional 7,183 shares during the last quarter. Machina Capital S.A.S. purchased a new position in MongoDB during the fourth quarter worth $763,000. Andra AP fonden purchased a new position in MongoDB during the fourth quarter worth $2,607,000. Edgestream Partners L.P. bought a new position in MongoDB during the fourth quarter valued at $1,061,000. Finally, Welch & Forbes LLC raised its stake in shares of MongoDB by 15.8% in the fourth quarter. Welch & Forbes LLC now owns 24,318 shares of the company’s stock valued at $5,661,000 after acquiring an additional 3,309 shares during the period. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

MongoDB Stock Performance

NASDAQ:MDB opened at $187.65 on Monday. The stock has a market capitalization of $13.97 billion, a P/E ratio of -68.49 and a beta of 1.30. The company’s 50-day simple moving average is $261.68 and its 200-day simple moving average is $274.47. MongoDB, Inc. has a fifty-two week low of $181.05 and a fifty-two week high of $387.19.

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

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Wells Fargo & Company cut shares of MongoDB from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $365.00 to $225.00 in a research note on Thursday. DA Davidson boosted their target price on MongoDB from $340.00 to $405.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Bank of America reduced their price target on MongoDB from $420.00 to $286.00 and set a “buy” rating on the stock in a report on Thursday. Piper Sandler dropped their price objective on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a report on Thursday. Finally, Truist Financial reduced their target price on MongoDB from $400.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $319.87.

Insider Buying and Selling

In related news, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at $5,709,455.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares in the company, valued at $3,487,706.91. The trade was a 1.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,314 shares of company stock worth $12,981,833 in the last ninety days. 3.60% of the stock is owned by insiders.

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.