Norges Bank Buys New Stake in MongoDB, Inc. (NASDAQ:MDB)


Share on StockTwits

Norges Bank bought a new stake in MongoDB, Inc. (NASDAQ:MDB) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 543,500 shares of the company’s stock, valued at approximately $195,138,000. Norges Bank owned approximately 0.90% of MongoDB as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Concorde Asset Management LLC purchased a new position in MongoDB during the fourth quarter worth $3,672,000. Castle Rock Wealth Management LLC lifted its position in shares of MongoDB by 13.4% during the fourth quarter. Castle Rock Wealth Management LLC now owns 1,203 shares of the company’s stock worth $462,000 after purchasing an additional 142 shares during the last quarter. BlackRock Inc. lifted its position in shares of MongoDB by 8.6% during the fourth quarter. BlackRock Inc. now owns 4,556,828 shares of the company’s stock worth $1,636,084,000 after purchasing an additional 360,503 shares during the last quarter. Great West Life Assurance Co. Can lifted its position in shares of MongoDB by 4.6% during the third quarter. Great West Life Assurance Co. Can now owns 48,043 shares of the company’s stock worth $11,131,000 after purchasing an additional 2,106 shares during the last quarter. Finally, ProShare Advisors LLC raised its holdings in shares of MongoDB by 34.4% in the third quarter. ProShare Advisors LLC now owns 2,241 shares of the company’s stock valued at $519,000 after acquiring an additional 574 shares in the last quarter. 87.36% of the stock is owned by institutional investors.

In other news, Director Hope F. Cochran sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The stock was sold at an average price of $283.25, for a total transaction of $141,625.00. Following the completion of the transaction, the director now directly owns 4,592 shares of the company’s stock, valued at approximately $1,300,684. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Dev Ittycheria sold 35,000 shares of the company’s stock in a transaction that occurred on Thursday, March 4th. The stock was sold at an average price of $336.35, for a total value of $11,772,250.00. Following the transaction, the chief executive officer now directly owns 274,864 shares of the company’s stock, valued at $92,450,506.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 110,720 shares of company stock worth $37,796,038. Insiders own 16.28% of the company’s stock.

MongoDB stock opened at $284.79 on Thursday. The company has a current ratio of 4.06, a quick ratio of 4.06 and a debt-to-equity ratio of 43.46. MongoDB, Inc. has a 12 month low of $131.83 and a 12 month high of $428.96. The stock’s 50 day simple moving average is $328.30 and its two-hundred day simple moving average is $312.50. The firm has a market cap of $17.43 billion, a PE ratio of -65.32 and a beta of 0.84.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, March 8th. The company reported ($0.33) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.39) by $0.06. MongoDB had a negative return on equity of 343.82% and a negative net margin of 46.73%. The business had revenue of $171.00 million for the quarter, compared to analyst estimates of $157.05 million. During the same quarter in the prior year, the firm posted ($0.25) EPS. The business’s quarterly revenue was up 38.4% compared to the same quarter last year. On average, equities research analysts forecast that MongoDB, Inc. will post -3.57 EPS for the current year.

Several analysts recently weighed in on the company. Smith Barney Citigroup lifted their price objective on MongoDB from $354.00 to $465.00 in a report on Wednesday, January 13th. Piper Sandler boosted their target price on shares of MongoDB from $328.00 to $425.00 in a report on Monday, January 11th. Canaccord Genuity reduced their target price on shares of MongoDB from $430.00 to $375.00 and set a “buy” rating for the company in a report on Tuesday, March 16th. DA Davidson boosted their target price on shares of MongoDB from $275.00 to $300.00 and gave the stock a “neutral” rating in a report on Tuesday, March 16th. Finally, Oppenheimer boosted their target price on shares of MongoDB from $300.00 to $400.00 and gave the stock an “outperform” rating in a report on Tuesday, January 5th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $383.00.

About MongoDB

MongoDB, Inc provides general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

See Also: What is the Current Ratio?

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB).

Institutional Ownership by Quarter for MongoDB (NASDAQ:MDB)

Receive News & Ratings for MongoDB Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for MongoDB and related companies with MarketBeat.com's FREE daily email newsletter.