Point72 Hong Kong Ltd Makes New $7.96 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Point72 Hong Kong Ltd bought a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 29,458 shares of the company’s stock, valued at approximately $7,964,000.

Several other large investors also recently modified their holdings of the stock. Aigen Investment Management LP bought a new position in MongoDB in the third quarter valued at approximately $1,045,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of MongoDB in the 3rd quarter valued at $4,366,000. Charles Schwab Investment Management Inc. increased its stake in shares of MongoDB by 2.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 278,419 shares of the company’s stock valued at $75,271,000 after purchasing an additional 7,575 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in shares of MongoDB during the 2nd quarter worth $1,860,000. Finally, Sycomore Asset Management lifted its position in shares of MongoDB by 86.4% during the 2nd quarter. Sycomore Asset Management now owns 53,568 shares of the company’s stock worth $12,884,000 after buying an additional 24,827 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now owns 1,131,006 shares in the company, valued at approximately $289,820,287.50. This represents a 0.26 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $282.89, for a total value of $282,890.00. Following the sale, the chief accounting officer now owns 16,222 shares of the company’s stock, valued at approximately $4,589,041.58. This represents a 5.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock valued at $7,442,189 over the last ninety days. 3.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on MDB. Wedbush upgraded MongoDB to a “strong-buy” rating in a research report on Thursday, October 17th. Oppenheimer upped their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research report on Friday, August 30th. Bank of America raised their target price on shares of MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research report on Friday, August 30th. Royal Bank of Canada reiterated an “outperform” rating and set a $350.00 price target on shares of MongoDB in a report on Friday, August 30th. Finally, Needham & Company LLC increased their price target on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus target price of $340.29.

MongoDB Stock Down 0.7 %

Shares of NASDAQ:MDB opened at $322.49 on Friday. The business’s 50-day moving average is $283.54 and its 200-day moving average is $271.15. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the prior year, the business earned ($0.63) EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, research analysts anticipate that MongoDB, Inc. will post -2.37 EPS for the current fiscal year.

About MongoDB

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.