Acadian Asset Management LLC Increases Holdings in MongoDB, Inc. (NASDAQ:MDB)

Acadian Asset Management LLC raised its stake in MongoDB, Inc. (NASDAQ:MDB) by 1,677.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,679 shares of the company’s stock after buying an additional 3,472 shares during the quarter. Acadian Asset Management LLC’s holdings in MongoDB were worth $916,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Transcendent Capital Group LLC acquired a new position in MongoDB in the fourth quarter valued at approximately $25,000. MFA Wealth Advisors LLC acquired a new position in shares of MongoDB in the 2nd quarter valued at $25,000. J.Safra Asset Management Corp grew its holdings in shares of MongoDB by 682.4% during the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock worth $33,000 after purchasing an additional 116 shares during the period. Hantz Financial Services Inc. acquired a new stake in shares of MongoDB during the 2nd quarter worth about $35,000. Finally, YHB Investment Advisors Inc. purchased a new stake in MongoDB in the 1st quarter valued at about $41,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

Shares of NASDAQ MDB opened at $290.05 on Tuesday. The stock’s 50-day simple moving average is $256.45 and its 200-day simple moving average is $301.10. The firm has a market capitalization of $21.28 billion, a PE ratio of -103.22 and a beta of 1.15. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.21. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same quarter in the previous year, the firm earned ($0.63) EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, equities research analysts forecast that MongoDB, Inc. will post -2.46 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the stock. Sanford C. Bernstein lifted their price target on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research report on Friday, August 30th. Canaccord Genuity Group cut their target price on MongoDB from $435.00 to $325.00 and set a “buy” rating on the stock in a research report on Friday, May 31st. Stifel Nicolaus raised their price target on MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Tigress Financial cut their price objective on MongoDB from $500.00 to $400.00 and set a “buy” rating on the stock in a report on Thursday, July 11th. Finally, Truist Financial raised their target price on MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, MongoDB has a consensus rating of “Moderate Buy” and a consensus target price of $337.56.

Insiders Place Their Bets

In other news, CAO Thomas Bull sold 138 shares of the business’s stock in a transaction dated Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total value of $36,610.02. Following the completion of the sale, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Thomas Bull sold 138 shares of MongoDB stock in a transaction on Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total value of $36,610.02. Following the transaction, the chief accounting officer now directly owns 17,222 shares of the company’s stock, valued at approximately $4,568,824.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Cedric Pech sold 273 shares of the stock in a transaction on Tuesday, July 2nd. The stock was sold at an average price of $265.29, for a total transaction of $72,424.17. Following the sale, the executive now owns 35,719 shares of the company’s stock, valued at approximately $9,475,893.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,005 shares of company stock valued at $8,082,746. 3.60% of the stock is currently owned by insiders.

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.