Octahedron Capital Management L.P. Purchases New Shares in MongoDB, Inc. (NASDAQ:MDB)

Octahedron Capital Management L.P. acquired a new position in MongoDB, Inc. (NASDAQ:MDB) in the second quarter, Holdings Channel reports. The institutional investor acquired 2,100 shares of the company’s stock, valued at approximately $525,000. MongoDB makes up approximately 0.5% of Octahedron Capital Management L.P.’s portfolio, making the stock its 16th largest position.

A number of other large investors have also recently made changes to their positions in MDB. Vanguard Group Inc. raised its stake in shares of MongoDB by 1.0% in the first quarter. Vanguard Group Inc. now owns 6,910,761 shares of the company’s stock valued at $2,478,475,000 after acquiring an additional 68,348 shares during the period. Jennison Associates LLC lifted its stake in MongoDB by 14.3% in the first quarter. Jennison Associates LLC now owns 4,408,424 shares of the company’s stock worth $1,581,037,000 after purchasing an additional 551,567 shares during the last quarter. Swedbank AB boosted its position in shares of MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the period. Champlain Investment Partners LLC grew its stake in shares of MongoDB by 22.4% during the first quarter. Champlain Investment Partners LLC now owns 550,684 shares of the company’s stock valued at $197,497,000 after buying an additional 100,725 shares during the last quarter. Finally, First Trust Advisors LP raised its holdings in shares of MongoDB by 59.3% in the fourth quarter. First Trust Advisors LP now owns 549,052 shares of the company’s stock worth $224,480,000 after buying an additional 204,284 shares during the period. 89.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on MDB shares. Truist Financial increased their target price on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Guggenheim upgraded shares of MongoDB from a “sell” rating to a “neutral” rating in a research note on Monday, June 3rd. Scotiabank boosted their price target on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a report on Friday, August 30th. Piper Sandler increased their price objective on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a research note on Friday, August 30th. Finally, Needham & Company LLC lifted their target price on MongoDB from $290.00 to $335.00 and gave the company a “buy” rating in a research report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $337.56.

Insider Activity

In other news, Director John Dennis Mcmahon sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, June 24th. The stock was sold at an average price of $228.00, for a total value of $2,280,000.00. Following the transaction, the director now owns 20,020 shares in the company, valued at $4,564,560. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director John Dennis Mcmahon sold 10,000 shares of the firm’s stock in a transaction dated Monday, June 24th. The shares were sold at an average price of $228.00, for a total value of $2,280,000.00. Following the transaction, the director now directly owns 20,020 shares of the company’s stock, valued at $4,564,560. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CRO Cedric Pech sold 273 shares of the company’s stock in a transaction dated Tuesday, July 2nd. The shares were sold at an average price of $265.29, for a total transaction of $72,424.17. Following the sale, the executive now directly 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. Insiders have sold a total of 32,005 shares of company stock worth $8,082,746 over the last 90 days. 3.60% of the stock is currently owned by company insiders.

MongoDB Price Performance

NASDAQ:MDB opened at $278.45 on Friday. The firm’s fifty day moving average is $259.06 and its two-hundred day moving average is $298.68. 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, Inc. has a one year low of $212.74 and a one year high of $509.62. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of -99.09 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its earnings results 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 return on equity of 15.06% and a negative net margin of 12.08%. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same period in the prior year, the company posted ($0.63) EPS. The business’s quarterly revenue was up 12.8% on a year-over-year basis. Research analysts expect that MongoDB, Inc. will post -2.46 EPS for the current year.

MongoDB 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.