Melqart Asset Management UK Ltd Makes New $10.09 Million Investment in MongoDB, Inc. $MDB

Melqart Asset Management UK Ltd purchased a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) in the third quarter, HoldingsChannel.com reports. The institutional investor purchased 32,497 shares of the company’s stock, valued at approximately $10,086,000. MongoDB comprises 1.3% of Melqart Asset Management UK Ltd’s portfolio, making the stock its 27th largest holding.

Several other hedge funds have also bought and sold shares of the business. Cramer Rosenthal Mcglynn LLC raised its stake in MongoDB by 897.7% during the third quarter. Cramer Rosenthal Mcglynn LLC now owns 57,795 shares of the company’s stock valued at $17,938,000 after buying an additional 52,002 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of MongoDB by 1,277.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,219 shares of the company’s stock worth $5,655,000 after acquiring an additional 16,896 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of MongoDB by 209.0% during the third quarter. Pacer Advisors Inc. now owns 4,549 shares of the company’s stock valued at $1,412,000 after acquiring an additional 3,077 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of MongoDB by 42.1% in the 3rd quarter. Penserra Capital Management LLC now owns 135,036 shares of the company’s stock worth $41,910,000 after purchasing an additional 39,978 shares during the last quarter. Finally, Pinegrove Venture Partners LLC purchased a new position in shares of MongoDB in the 3rd quarter worth about $1,032,000. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Morgan Stanley increased their price objective on shares of MongoDB from $400.00 to $440.00 and gave the company an “overweight” rating in a research report on Tuesday, December 2nd. Argus lifted their target price on shares of MongoDB from $340.00 to $488.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Truist Financial dropped their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Sanford C. Bernstein cut shares of MongoDB from an “outperform” rating to a “market perform” rating in a report on Tuesday, March 3rd. Finally, Wedbush reduced their price target on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating for the company in a research report on Tuesday, March 3rd. One equities research analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.18.

MongoDB Stock Down 0.1%

Shares of NASDAQ MDB opened at $260.50 on Friday. The firm’s 50-day moving average price is $354.08 and its 200-day moving average price is $352.74. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $444.72. The company has a market cap of $21.20 billion, a PE ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, beating the consensus estimate of $1.47 by $0.18. The firm had revenue of $695.07 million during the quarter, compared to analysts’ expectations of $669.40 million. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.28 earnings per share. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 1,190 shares of the firm’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total value of $440,002.50. Following the transaction, the director directly owned 80,462 shares in the company, valued at $29,750,824.50. This trade represents a 1.46% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Hope F. Cochran sold 1,566 shares of MongoDB stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the sale, the director directly owned 25,659 shares of the company’s stock, valued at $10,824,249.15. The trade was a 5.75% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 21,949 shares of company stock valued at $8,981,630. Company insiders own 3.10% of the company’s stock.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.