Delta Global Management LP Has $17.26 Million Position in MongoDB, Inc. $MDB

Delta Global Management LP lowered its holdings in MongoDB, Inc. (NASDAQ:MDB) by 28.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,616 shares of the company’s stock after selling 22,658 shares during the period. MongoDB makes up 1.3% of Delta Global Management LP’s portfolio, making the stock its 26th biggest position. Delta Global Management LP owned about 0.07% of MongoDB worth $17,262,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Meiji Yasuda Asset Management Co Ltd. raised its position in MongoDB by 3.8% during the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 1,101 shares of the company’s stock valued at $342,000 after buying an additional 40 shares during the period. Brooklyn Investment Group increased its holdings in shares of MongoDB by 7.4% in the 3rd quarter. Brooklyn Investment Group now owns 679 shares of the company’s stock valued at $211,000 after purchasing an additional 47 shares during the period. Huntington National Bank increased its holdings in shares of MongoDB by 110.9% in the 3rd quarter. Huntington National Bank now owns 97 shares of the company’s stock valued at $30,000 after purchasing an additional 51 shares during the period. GAMMA Investing LLC lifted its position in shares of MongoDB by 46.2% in the third quarter. GAMMA Investing LLC now owns 171 shares of the company’s stock worth $53,000 after purchasing an additional 54 shares in the last quarter. Finally, Westside Investment Management Inc. lifted its position in shares of MongoDB by 82.1% in the third quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock worth $39,000 after purchasing an additional 55 shares in the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 10,000 shares of the company’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 transaction of $4,077,000.00. Following the completion of the sale, the director owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. This represents a 0.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were sold at an average price of $421.85, for a total value of $660,617.10. Following the transaction, the director owned 25,659 shares in the company, valued at approximately $10,824,249.15. This trade represents a 5.75% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 21,949 shares of company stock worth $8,981,630 over the last three months. 3.10% of the stock is owned by company insiders.

MongoDB Trading Down 0.1%

Shares of NASDAQ:MDB opened at $260.50 on Monday. The stock has a market capitalization of $21.20 billion, a PE ratio of -296.02 and a beta of 1.40. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $444.72. The firm has a fifty day moving average price of $354.08 and a 200 day moving average price of $354.11.

MongoDB (NASDAQ:MDB) last posted its earnings results 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. MongoDB had a negative return on equity of 1.03% and a negative net margin of 2.89%.The company had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same period last year, the company earned $1.28 earnings per share. The business’s revenue was up 26.8% compared to the same quarter last year. On average, sell-side analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on MDB shares. Wedbush lowered their price objective on shares of MongoDB from $440.00 to $380.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 3rd. Cantor Fitzgerald cut their target price on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. The Goldman Sachs Group decreased their target price on shares of MongoDB from $475.00 to $320.00 and set a “buy” rating for the company in a research note on Wednesday, March 4th. Citigroup dropped their price target on shares of MongoDB from $435.00 to $400.00 and set a “buy” rating on the stock in a research note on Tuesday, March 3rd. Finally, Monness Crespi & Hardt cut their price objective on MongoDB from $475.00 to $370.00 and set a “buy” rating for the company in a report on Tuesday, March 3rd. One investment analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $354.18.

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.