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Seeyond, a quantitative investment management firm based in France, has raised eyebrows with its recent move to substantially increase its stake in MongoDB, Inc. (NASDAQ:MDB). According to the latest filing with the Securities & Exchange Commission, Seeyond’s total holdings in the company increased by an impressive 308.9% during the fourth quarter of 2020. The firm now owns a total of 2,723 shares of MDB stock, worth approximately $536,000.

So what makes this move so surprising? Well, for starters, MongoDB is a relatively new player in the database industry. Founded in 2007 by Dwight Merriman and Eliot Horowitz, the company didn’t go public until October 2017. Nevertheless, it has already carved out a significant market position thanks to its innovative platform and emphasis on scalability and flexibility.

At its core, MongoDB provides a general-purpose database platform that can be utilized by enterprises of all sizes across a variety of industries. The company’s flagship product, MongoDB Atlas, is a multi-cloud database-as-a-service solution that allows customers to easily migrate databases between cloud providers or use multiple providers simultaneously.

In addition to Atlas, MongoDB also offers an enterprise-grade commercial server (MongoDB Enterprise Advanced) and a freely-downloadable version aimed at developers (Community Server).

Despite being a relatively young company compared to some of its competitors (such as Oracle or IBM), MongoDB has seen steady growth over the past few years. Its shares currently trade on NASDAQ under the symbol MDB and opened at $374.67 on February 5th.

As for Seeyond’s decision to increase its stake so dramatically – only time will tell whether it was a wise move or not. However, considering MongoDB’s strong market position and focus on innovation within the database space, there may be good reason for investors like Seeyond to take notice and see potential for growth down the line.

Overall though – it’s an interesting move from Seeyond, and one that will certainly be watched with great interest by industry analysts and investors alike.

MongoDB attracts major investors as stock values increase

MongoDB, Inc has experienced significant changes in its holdings and stock values as major investors move to purchase shares. Hedge funds like BI Asset Management Fondsmaeglerselskab A S, Lindbrook Capital LLC, Y.D. More Investments Ltd, CI Investments Inc., and Quent Capital LLC have made significant strides in acquiring more than 84% of the company’s stock. These purchases indicate that MongoDB is a profitable investment for hedge funds and institutional investors.

The news follows announcements made by insiders within the company who sold approximately 106,682 shares amounting to $26,516,196 over the past quarter. CTO Mark Porter sold 1,900 shares on April 3rd at an average cost of $226.17 where he pocketed $429,723 while Director Dwight A Merriman sold 3,000 shares of company’s stock on June 1st among others.

MongoDB provides a general-purpose database platform globally with several products including MongoDB Atlas- a multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced- a commercial database server designed for enterprise customers running in hybrid environments; and Community Server- free-to-download version that includes all features needed to get started with MongoDB.

Despite its business model disruption caused by distributed systems technology competition from Amazon Web Services (AWS), Microsoft Azure Cosmos DB and Google Cloud Spanner offerings, it has emerged lucrative for the New York firm as they reported $368.28 million revenue in Q2
with earnings per share of $0.56 marking a positive surprise on analysts predictions of $347.77 million revenue resulting in earnings per share at $0.18 according to NASDAQ Business Insider News.

The massive interest shown by Institutional investors buying almost half the traded volume with insider selling pressures offsetting demand may have led U.S research firms like Tigress Financial Wedbush William Blair Stifel Nicolaus JMP Securities giving recommendations including ratings cutbacks ultimately resulting in a consensus price target of $328.35.

This disruption leading to MongoDB’s revenue surge is expected to continue, and thus, investors’ interest in its stock may grow as well. With a unique business model that caters to the needs of developers, it looks like MongoDB has become a force to reckon with in the industry.

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