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As of May 15, 2023, the Treasurer of the State of North Carolina has upped its holdings in MongoDB, Inc. by 3.1% according to recent disclosures with the Securities & Exchange Commission (SEC). The fund purchased an additional 890 shares during the period which brought their total shares to 29,731 worth $5,852,000 as of their latest filing with the SEC.

For those not familiar with MongoDB, it is a company that specializes in creating and providing a general-purpose database platform such as MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. The brand has also ventured into offering professional services such as consulting and training.

Shares of MongoDB began trading at $263.60 on Monday. As for their financial status, they hold a debt-to-equity ratio of 1.54 and a current ratio of 3.80 alongside quick ratio figures that are similar to the current ratio. In terms of market cap value, the firm currently stands at $18.46 billion while sporting a price-to-earnings ratio of -52.30 and beta figures sitting at around 1.06.

As we see more investors express interest in companies like MongoDB through stock purchases or increasing their stake in the company itself it could raise public awareness even higher for younger companies hoping to expand their business footprint positively impacting not just their bottom line but also increase positive brand awareness as well.

What this means for shareholders is still speculative at this stage however seeing major players such as The Treasurer of State jump onto board could indicate that positive results lie ahead if momentum continues to mount behind companies such as this one.

In conclusion, it is clear that MongoDB is continuing to grow its offerings through its software offerings while receiving investment backing which provides an optimistic outlook for future growth prospects that continue attracting investor attention helping provide opportunities for stockholders while delivering tangible value within related job markets globally.

Hedge Funds and Insiders Make Changes in MongoDB Holdings, Analysts Remain Optimistic

In recent news, several hedge funds have made changes to their positions in MongoDB, Inc., a company that specializes in developing and providing a general-purpose database platform. Ieq Capital LLC increased its holdings by 23.2% during the third quarter, now owning 1,962 shares of the company’s stock valued at $390,000. Skandinaviska Enskilda Banken AB publ also increased its holdings by 2.5% during the fourth quarter, owning 11,467 shares of the company’s stock valued at $2,256,000. Lindbrook Capital LLC boosted its position in the company’s stock by 350.0% in the fourth quarter while Asset Management One Co. Ltd. boosted its position by 3.1% in the third quarter. Lastly, Oppenheimer & Co. Inc. boosted its position by 14.8% in the third quarter as well.

These hedge funds are not alone in their interest as insiders have also been observed selling shares of MongoDB stock within recent months including CEO Dev Ittycheria who sold 49,249 shares on April 3rd for a total transaction value of $11,206,609.95. With this insider sale and others within the last ninety days totaling to $30,127,927 worth of shares sold collectively by insiders and corporate insiders holding approximately 5.70% of the company’s stock; it is essential to keep an eye on further developments.

Despite these sales and changes in positions there is still optimism surrounding MongoDB with a number of research firms weighing in on MDB positively including Sanford C Bernstein who gave them an “outperform” rating and a $282 price target; Morgan Stanley issued an “overweight” rating on Wednesday with a recommended price target between $230-$270 depending on expected risk tolerance; Oppenheimer dropped their price target from $320 to $270 but maintained an outperform rating; Barclays decreased their price target from $264 to $257 while giving an overweight rating for the company in their research report. Credit Suisse Group had only dropped their target price on shares of MongoDB from $305.00 to $250.00 but still maintained an outperform rating for the company.

As of May 15, 2023, MDB’s earnings results for the first quarter have yet to be released and expectations are high given that they reported ($0.98) EPS last year but with analysts predicting a lengthy drop of -4.04 earnings per share throughout this fiscal year, time can only tell whether or not MongoDB will continue to perform in the long run.

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