MongoDB, Inc. (NASDAQ:MDB) is Spyglass Capital Management LLC’s 8th Largest Position

Spyglass Capital Management LLC lifted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 50.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 235,971 shares of the company’s stock after buying an additional 79,456 shares during the period. MongoDB makes up about 4.2% of Spyglass Capital Management LLC’s portfolio, making the stock its 8th biggest holding. Spyglass Capital Management LLC’s holdings in MongoDB were worth $63,795,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Summit Partners Public Asset Management LLC lifted its holdings in shares of MongoDB by 47.6% during the 3rd quarter. Summit Partners Public Asset Management LLC now owns 147,646 shares of the company’s stock valued at $39,916,000 after acquiring an additional 47,646 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of MongoDB by 23.3% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,143 shares of the company’s stock valued at $4,094,000 after acquiring an additional 2,858 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of MongoDB by 1.6% during the 3rd quarter. MetLife Investment Management LLC now owns 4,450 shares of the company’s stock valued at $1,203,000 after acquiring an additional 72 shares in the last quarter. BNP Paribas acquired a new position in shares of MongoDB during the 3rd quarter valued at $527,000. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in MongoDB in the 3rd quarter worth $25,636,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Price Performance

MongoDB stock opened at $324.60 on Friday. The firm has a 50 day simple moving average of $282.65 and a 200-day simple moving average of $272.02. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $509.62.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating 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 analysts’ expectations of $465.03 million. During the same period last year, the firm posted ($0.63) earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. Equities analysts anticipate that MongoDB, Inc. will post -2.37 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Barclays boosted their price objective on shares of MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Truist Financial upped their target price on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Wells Fargo & Company upped their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Bank of America upped their target price on shares of MongoDB from $300.00 to $350.00 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 assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $340.29.

Insider Activity at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $349.17, for a total transaction of $698,340.00. Following the completion of the sale, the director now directly owns 1,124,006 shares of the company’s stock, valued at $392,469,175.02. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Thomas Bull sold 154 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total transaction of $39,462.50. Following the sale, the chief accounting officer now directly owns 16,068 shares of the company’s stock, valued at approximately $4,117,425. This represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,600 shares of company stock valued at $7,442,189 over the last ninety days. Insiders own 3.60% of the company’s stock.

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.