Summit Partners Public Asset Management LLC Grows Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

Summit Partners Public Asset Management LLC raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 47.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 147,646 shares of the company’s stock after acquiring an additional 47,646 shares during the period. MongoDB makes up 1.2% of Summit Partners Public Asset Management LLC’s investment portfolio, making the stock its 19th biggest holding. Summit Partners Public Asset Management LLC’s holdings in MongoDB were worth $39,916,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. MFA Wealth Advisors LLC purchased a new stake in shares of MongoDB in the second quarter valued at about $25,000. J.Safra Asset Management Corp lifted its position in MongoDB by 682.4% in the second quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares during the period. Quarry LP boosted its holdings in MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Hantz Financial Services Inc. acquired a new position in MongoDB during the 2nd quarter worth approximately $35,000. Finally, Brooklyn Investment Group purchased a new position in shares of MongoDB during the 3rd quarter worth approximately $36,000. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on MDB. Barclays lifted their price target on MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. UBS Group boosted their target price on shares of MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a research report on Friday, August 30th. Sanford C. Bernstein increased their price target on shares of MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a report on Friday, August 30th. DA Davidson boosted their price objective on shares of MongoDB from $330.00 to $340.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company increased their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, MongoDB presently has a consensus rating of “Moderate Buy” and an average price target of $340.29.

MongoDB Price Performance

Shares of MDB opened at $324.60 on Friday. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The stock has a fifty day moving average of $282.65 and a two-hundred day 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 (NASDAQ:MDB) last released its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, beating 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 firm had revenue of $478.11 million during the quarter, compared to analyst estimates of $465.03 million. During the same period in the prior year, the firm posted ($0.63) earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that MongoDB, Inc. will post -2.37 earnings per share for the current fiscal year.

Insider Activity

In other MongoDB news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the completion of the sale, the chief financial officer now directly owns 80,307 shares in the company, valued at $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total value of $872,370.00. Following the completion of the transaction, the director now directly owns 1,135,006 shares in the company, valued at $330,048,394.74. This represents a 0.26 % 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 in the last 90 days. 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.