Connor Clark & Lunn Investment Management Ltd. Makes New $2.06 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,861 shares of the company’s stock, valued at approximately $2,063,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in shares of MongoDB by 2.7% in the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock worth $1,648,000 after purchasing an additional 160 shares in the last quarter. Atria Investments Inc grew its position in MongoDB by 6.6% in the third quarter. Atria Investments Inc now owns 2,175 shares of the company’s stock worth $588,000 after buying an additional 135 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of MongoDB by 38.0% in the third quarter. GSA Capital Partners LLP now owns 1,598 shares of the company’s stock valued at $432,000 after buying an additional 440 shares in the last quarter. OneDigital Investment Advisors LLC lifted its position in shares of MongoDB by 18.0% during the 3rd quarter. OneDigital Investment Advisors LLC now owns 1,005 shares of the company’s stock valued at $272,000 after acquiring an additional 153 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its stake in shares of MongoDB by 4.6% during the 3rd quarter. CIBC Asset Management Inc now owns 14,717 shares of the company’s stock worth $3,979,000 after acquiring an additional 653 shares in the last quarter. Institutional investors own 89.29% of the company’s stock.

MongoDB Stock Down 2.3 %

Shares of NASDAQ MDB opened at $188.68 on Wednesday. MongoDB, Inc. has a 12 month low of $173.13 and a 12 month high of $387.19. The company has a market cap of $14.05 billion, a P/E ratio of -68.86 and a beta of 1.30. The business’s 50 day moving average is $254.38 and its two-hundred day moving average is $271.46.

MongoDB (NASDAQ:MDB) last announced its 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). MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $548.40 million for the quarter, compared to the consensus estimate of $519.65 million. During the same period last year, the firm posted $0.86 EPS. Sell-side analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Cedric Pech sold 287 shares of the business’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 value of $67,183.83. Following the sale, the insider now owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock valued at $11,328,869 over the last three months. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on MDB shares. Tigress Financial upped their target price on MongoDB from $400.00 to $430.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. KeyCorp lowered shares of MongoDB from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 5th. The Goldman Sachs Group dropped their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Citigroup restated a “buy” rating on shares of MongoDB in a research report on Thursday, March 6th. Finally, Loop Capital cut their target price on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research note on Monday, March 3rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-three have issued a buy rating to the stock. According to data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $319.87.

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.