Edgestream Partners L.P. Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Edgestream Partners L.P. acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 4,558 shares of the company’s stock, valued at approximately $1,061,000.

Several other institutional investors have also added to or reduced their stakes in MDB. Welch & Forbes LLC lifted its holdings 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 purchasing an additional 3,309 shares in the last quarter. E Fund Management Co. Ltd. acquired a new stake in MongoDB in the 4th quarter valued at approximately $204,000. Candriam S.C.A. lifted its stake in MongoDB by 2.5% in the 4th quarter. Candriam S.C.A. now owns 143,639 shares of the company’s stock valued at $33,441,000 after acquiring an additional 3,437 shares in the last quarter. Raymond James Financial Inc. acquired a new position in MongoDB during the 4th quarter worth approximately $90,478,000. Finally, Arizona State Retirement System grew its stake in shares of MongoDB by 1.9% during the 4th quarter. Arizona State Retirement System now owns 21,421 shares of the company’s stock worth $4,987,000 after acquiring an additional 406 shares in the last quarter. 89.29% of the stock is owned by institutional investors.

MongoDB Stock Up 8.5 %

Shares of NASDAQ:MDB opened at $195.70 on Wednesday. MongoDB, Inc. has a 12-month low of $173.13 and a 12-month high of $387.19. The company’s 50 day moving average price is $259.87 and its two-hundred day moving average price is $273.64. The firm has a market cap of $14.57 billion, a PE ratio of -71.42 and a beta of 1.30.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to analyst estimates 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 company earned $0.86 EPS. On average, research analysts expect that MongoDB, Inc. will post -1.78 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on MDB. Bank of America reduced their target price on shares of MongoDB from $420.00 to $286.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Citigroup restated a “buy” rating on shares of MongoDB in a report on Thursday, March 6th. DA Davidson upped their target price on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Macquarie decreased their price target on MongoDB from $300.00 to $215.00 and set a “neutral” rating for the company in a research note on Friday, March 7th. Finally, Piper Sandler lowered their price target on MongoDB from $425.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. One investment 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $319.87.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total value of $811,890.00. Following the transaction, the director now owns 1,109,006 shares in the company, valued at approximately $300,130,293.78. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,314 shares of company stock worth $12,981,833. Company insiders own 3.60% of the company’s stock.

MongoDB Company 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.