Jericho Capital Asset Management L.P. Acquires 852,540 Shares of MongoDB, Inc. $MDB

Jericho Capital Asset Management L.P. grew its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 162.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,378,540 shares of the company’s stock after purchasing an additional 852,540 shares during the period. MongoDB comprises approximately 4.4% of Jericho Capital Asset Management L.P.’s holdings, making the stock its 7th largest holding. Jericho Capital Asset Management L.P.’s holdings in MongoDB were worth $427,871,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of MDB. Integrated Wealth Concepts LLC increased its position in shares of MongoDB by 31.6% in the first quarter. Integrated Wealth Concepts LLC now owns 1,363 shares of the company’s stock valued at $239,000 after acquiring an additional 327 shares during the last quarter. NewEdge Advisors LLC boosted its position in MongoDB by 55.0% during the first quarter. NewEdge Advisors LLC now owns 4,238 shares of the company’s stock valued at $743,000 after purchasing an additional 1,504 shares during the last quarter. Sivia Capital Partners LLC bought a new position in MongoDB in the second quarter valued at approximately $329,000. Savant Capital LLC bought a new position in MongoDB in the second quarter valued at approximately $359,000. Finally, Prospera Financial Services Inc increased its position in shares of MongoDB by 10.6% during the 2nd quarter. Prospera Financial Services Inc now owns 1,666 shares of the company’s stock worth $350,000 after purchasing an additional 159 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Price Performance

NASDAQ:MDB opened at $260.50 on Monday. The company has a market cap of $21.20 billion, a P/E ratio of -296.02 and a beta of 1.40. The firm’s fifty day moving average price is $354.08 and its two-hundred day moving average price is $354.11. MongoDB, Inc. has a one year low of $140.78 and a one year high of $444.72.

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

Analyst Upgrades and Downgrades

MDB has been the topic of a number of analyst reports. Argus upped their price objective on MongoDB from $340.00 to $488.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Truist Financial lowered their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a report on Tuesday, March 3rd. Cantor Fitzgerald cut their price target on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research note on Tuesday, March 3rd. Weiss Ratings reissued a “sell (d-)” rating on shares of MongoDB in a research report on Monday, December 29th. Finally, Morgan Stanley boosted their price objective on shares of MongoDB from $400.00 to $440.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have given a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $354.18.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 1,190 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $369.75, for a total transaction of $440,002.50. Following the completion of the sale, the director owned 80,462 shares in the company, valued at $29,750,824.50. The trade was a 1.46% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Hope F. Cochran sold 1,566 shares of the company’s 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 completion of the transaction, the director directly owned 25,659 shares in the company, valued at $10,824,249.15. The trade was a 5.75% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 21,949 shares of company stock valued at $8,981,630. Corporate insiders own 3.10% of the company’s stock.

About MongoDB

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.