Spyglass Capital Management LLC Sells 5,404 Shares of MongoDB, Inc. $MDB

Spyglass Capital Management LLC trimmed its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The firm owned 339,723 shares of the company’s stock after selling 5,404 shares during the period. MongoDB comprises approximately 5.6% of Spyglass Capital Management LLC’s portfolio, making the stock its 3rd biggest holding. Spyglass Capital Management LLC’s holdings in MongoDB were worth $105,443,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in MDB. Melqart Asset Management UK Ltd acquired a new position in MongoDB in the 3rd quarter worth about $10,086,000. Wellington Management Group LLP increased its holdings in MongoDB by 16.4% in the 3rd quarter. Wellington Management Group LLP now owns 167,767 shares of the company’s stock worth $52,072,000 after acquiring an additional 23,615 shares in the last quarter. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna acquired a new position in MongoDB during the third quarter worth $186,000. Bank of Hawaii purchased a new position in MongoDB during the third quarter valued at $1,223,000. Finally, Pinnbrook Capital Management LP purchased a new position in MongoDB during the third quarter valued at $4,506,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Stock Down 0.1%

Shares of MongoDB stock opened at $260.50 on Friday. The company has a 50 day moving average of $354.08 and a 200 day moving average of $352.74. The company has a market capitalization of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $444.72.

MongoDB (NASDAQ:MDB) last issued its earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.18. The business 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 company’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.28 EPS. As a group, research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

MDB has been the topic of several research analyst reports. Cantor Fitzgerald lowered their price objective on MongoDB from $454.00 to $378.00 and set an “overweight” rating on the stock in a report on Tuesday, March 3rd. Macquarie Infrastructure upped their target price on shares of MongoDB from $305.00 to $385.00 and gave the stock a “neutral” rating in a report on Tuesday, December 2nd. Stifel Nicolaus decreased their target price on shares of MongoDB from $450.00 to $330.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Truist Financial lowered their price target on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Finally, Citizens Jmp increased their price objective on MongoDB from $435.00 to $475.00 and gave the stock a “market outperform” rating in a research report on Tuesday, December 2nd. One research analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $354.18.

Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,566 shares of the 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 transaction, the director owned 25,659 shares in the company, valued at approximately $10,824,249.15. This represents a 5.75% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total value of $4,077,000.00. Following the sale, the director directly owned 1,031,316 shares in the company, valued at $420,467,533.20. This trade represents a 0.96% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 21,949 shares of company stock worth $8,981,630 in the last quarter. 3.10% of the stock is currently owned by insiders.

MongoDB 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.