Spence Asset Management Purchases 3,889 Shares of Mongodb Inc (NASDAQ:MDB)

Spence Asset Management boosted its position in Mongodb Inc (NASDAQ:MDB) by 7.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 55,311 shares of the company’s stock after purchasing an additional 3,889 shares during the period. Mongodb makes up approximately 3.5% of Spence Asset Management’s investment portfolio, making the stock its 16th biggest holding. Spence Asset Management owned approximately 0.10% of Mongodb worth $6,664,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MDB. BlackRock Inc. lifted its stake in Mongodb by 138.7% in the second quarter. BlackRock Inc. now owns 1,820,059 shares of the company’s stock worth $276,812,000 after purchasing an additional 1,057,430 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Mongodb by 690.1% during the second quarter. First Trust Advisors LP now owns 746,150 shares of the company’s stock valued at $113,482,000 after acquiring an additional 651,708 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Mongodb by 24.4% during the second quarter. Vanguard Group Inc. now owns 3,125,593 shares of the company’s stock valued at $475,372,000 after acquiring an additional 612,848 shares in the last quarter. Morgan Stanley raised its stake in shares of Mongodb by 9.1% during the second quarter. Morgan Stanley now owns 5,731,123 shares of the company’s stock valued at $871,646,000 after acquiring an additional 479,368 shares in the last quarter. Finally, Invesco Ltd. raised its stake in shares of Mongodb by 557.4% during the second quarter. Invesco Ltd. now owns 424,736 shares of the company’s stock valued at $64,598,000 after acquiring an additional 360,129 shares in the last quarter. 71.66% of the stock is owned by institutional investors and hedge funds.

MDB stock traded up $5.51 during trading on Monday, hitting $136.72. 1,392,979 shares of the company’s stock traded hands, compared to its average volume of 1,515,956. The firm has a market capitalization of $7.27 billion, a P/E ratio of -79.49 and a beta of 0.08. The business has a fifty day simple moving average of $136.28 and a two-hundred day simple moving average of $144.56. The company has a quick ratio of 2.82, a current ratio of 2.82 and a debt-to-equity ratio of 0.97. Mongodb Inc has a 1 year low of $62.30 and a 1 year high of $184.78.

Mongodb (NASDAQ:MDB) last issued its quarterly earnings data on Wednesday, September 4th. The company reported ($0.58) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.07). The business had revenue of $99.40 million for the quarter, compared to analysts’ expectations of $91.70 million. Mongodb had a negative net margin of 36.58% and a negative return on equity of 43.95%. The business’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.41) earnings per share. On average, equities research analysts predict that Mongodb Inc will post -2.24 EPS for the current fiscal year.

In related news, CEO Dev Ittycheria sold 23,000 shares of Mongodb stock in a transaction that occurred on Thursday, August 1st. The shares were sold at an average price of $140.97, for a total transaction of $3,242,310.00. Following the transaction, the chief executive officer now directly owns 212,590 shares of the company’s stock, valued at $29,968,812.30. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Charles M. Hazard, Jr. sold 2,017 shares of Mongodb stock in a transaction on Thursday, August 1st. The stock was sold at an average price of $144.44, for a total transaction of $291,335.48. Following the completion of the transaction, the director now directly owns 112,240 shares in the company, valued at $16,211,945.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 162,163 shares of company stock worth $21,813,959. 25.08% of the stock is currently owned by corporate insiders.

Several research firms have recently weighed in on MDB. William Blair reaffirmed an “outperform” rating on shares of Mongodb in a research note on Wednesday, June 19th. DA Davidson lifted their price target on shares of Mongodb to $165.00 in a research note on Wednesday, June 19th. Needham & Company LLC set a $184.00 price target on shares of Mongodb and gave the company a “buy” rating in a research note on Thursday, September 5th. Citigroup lifted their price target on shares of Mongodb from $184.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, September 5th. Finally, Canaccord Genuity lifted their price target on shares of Mongodb from $160.00 to $185.00 and gave the company a “buy” rating in a research note on Wednesday, June 19th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $159.57.

Mongodb Profile

MongoDB, Inc operates as a general purpose database platform worldwide. The company offers MongoDB Enterprise Advanced, a subscription package for enterprise customers to run in the cloud, on-premise, or in a hybrid environment; MongoDB Atlas, a cloud-hosted database-as-a-service solution; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.

Read More: Market Capitalization and Individual Investors

Institutional Ownership by Quarter for Mongodb (NASDAQ:MDB)

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