Headlands Technologies LLC Acquires New Stake in MongoDB, Inc. (NASDAQ:MDB)

Headlands Technologies LLC purchased a new position in MongoDB, Inc. (NASDAQ:MDB) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 9,785 shares of the company’s stock, valued at approximately $2,278,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in MongoDB in the 4th quarter worth approximately $189,584,000. Raymond James Financial Inc. bought a new position in shares of MongoDB in the fourth quarter worth approximately $90,478,000. Amundi increased its stake in shares of MongoDB by 86.2% in the fourth quarter. Amundi now owns 693,740 shares of the company’s stock worth $172,519,000 after purchasing an additional 321,186 shares in the last quarter. Assenagon Asset Management S.A. raised its position in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after purchasing an additional 294,228 shares during the period. Finally, Franklin Resources Inc. lifted its stake in shares of MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after buying an additional 181,962 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

MDB has been the topic of a number of recent analyst reports. Cantor Fitzgerald started coverage on MongoDB in a report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price target on the stock. Citigroup reissued a “buy” rating on shares of MongoDB in a research note on Thursday, March 6th. DA Davidson upped their price target on MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. The Goldman Sachs Group reduced their price objective on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Finally, China Renaissance began coverage on shares of MongoDB in a research report on Tuesday, January 21st. They set a “buy” rating and a $351.00 target price for the company. Seven investment analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $319.87.

MongoDB Stock Performance

NASDAQ MDB opened at $175.40 on Tuesday. MongoDB, Inc. has a one year low of $170.85 and a one year high of $387.19. The company has a market capitalization of $14.24 billion, a price-to-earnings ratio of -64.01 and a beta of 1.30. The company’s 50-day simple moving average is $244.01 and its two-hundred day simple moving average is $265.11.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The business had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period last year, the firm earned $0.86 EPS. Equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Insider Activity at MongoDB

In other MongoDB news, CAO Thomas Bull sold 169 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the sale, the chief accounting officer now directly owns 14,899 shares in the company, valued at $3,487,706.91. This trade represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. The trade was a 1.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock valued at $11,328,869 over the last quarter. 3.60% of the stock is owned by corporate insiders.

MongoDB Company Profile

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