Advent International L.P. raised its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 51.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 54,500 shares of the company’s stock after purchasing an additional 18,500 shares during the period. MongoDB makes up about 0.3% of Advent International L.P.’s investment portfolio, making the stock its 18th largest holding. Advent International L.P. owned 0.07% of MongoDB worth $12,688,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Morse Asset Management Inc purchased a new stake in MongoDB during the 3rd quarter valued at $81,000. Wilmington Savings Fund Society FSB bought a new stake in shares of MongoDB during the 3rd quarter valued at about $44,000. Tidal Investments LLC increased its position in shares of MongoDB by 76.8% during the 3rd quarter. Tidal Investments LLC now owns 7,859 shares of the company’s stock valued at $2,125,000 after purchasing an additional 3,415 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of MongoDB by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 6,095 shares of the company’s stock valued at $1,648,000 after purchasing an additional 160 shares during the last quarter. Finally, Versant Capital Management Inc lifted its stake in shares of MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock worth $42,000 after purchasing an additional 165 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on MDB. Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 target price on shares of MongoDB in a report on Tuesday, March 4th. China Renaissance started coverage on MongoDB in a research note on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price objective for the company. Mizuho lowered their target price on MongoDB from $250.00 to $190.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 15th. Oppenheimer reduced their price target on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Finally, Cantor Fitzgerald assumed coverage on MongoDB in a research report on Wednesday, March 5th. They set an “overweight” rating and a $344.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $294.78.

Get Our Latest Stock Report on MongoDB

Insider Activity at MongoDB

In related news, CEO Dev Ittycheria sold 18,512 shares of the business’s stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the completion of the transaction, the chief executive officer now owns 268,948 shares of the company’s stock, valued at $46,597,930.48. The trade was a 6.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CAO Thomas Bull sold 301 shares of the company’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $173.25, for a total value of $52,148.25. Following the sale, the chief accounting officer now owns 14,598 shares of the company’s stock, valued at approximately $2,529,103.50. This represents a 2.02 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 39,345 shares of company stock worth $8,485,310 over the last three months. 3.60% of the stock is owned by corporate insiders.

MongoDB Price Performance

MDB stock opened at $172.19 on Friday. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $380.94. The firm’s 50-day moving average is $186.51 and its 200 day moving average is $245.99. The company has a market capitalization of $13.98 billion, a PE ratio of -62.84 and a beta of 1.49.

MongoDB (NASDAQ:MDB – Get Free Report) last issued its earnings results on Wednesday, March 5th. The company reported $0.19 EPS for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. During the same period last year, the business posted $0.86 earnings per share. Sell-side analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

About MongoDB

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding MDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for MongoDB, Inc. (NASDAQ:MDB – Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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