Cinctive Capital Management LP Makes New $12.95 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Cinctive Capital Management LP purchased a new stake in MongoDB, Inc. (NASDAQ:MDB) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 55,620 shares of the company’s stock, valued at approximately $12,949,000. Cinctive Capital Management LP owned approximately 0.07% of MongoDB as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Trexquant Investment LP grew its holdings in MongoDB by 11.0% during the 4th quarter. Trexquant Investment LP now owns 72,493 shares of the company’s stock valued at $16,877,000 after buying an additional 7,203 shares in the last quarter. Headlands Technologies LLC bought a new position in shares of MongoDB in the fourth quarter valued at approximately $2,278,000. Geode Capital Management LLC grew its stake in MongoDB by 1.8% during the fourth quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after acquiring an additional 22,106 shares in the last quarter. Franklin Resources Inc. increased its holdings in MongoDB by 9.7% during the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock worth $478,398,000 after acquiring an additional 181,962 shares during the period. Finally, Bedell Frazier Investment Counselling LLC purchased a new stake in MongoDB in the 4th quarter worth approximately $209,000. 89.29% of the stock is currently owned by institutional investors.

Insider Transactions at MongoDB

In other MongoDB news, insider Cedric Pech sold 287 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total transaction of $67,183.83. Following the completion of the sale, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. This trade represents a 1.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael Lawrence Gordon sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $291,442.05. Following the completion of the transaction, the chief financial officer now directly owns 79,062 shares in the company, valued at $18,507,623.58. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,139 shares of company stock valued at $11,328,869. Corporate insiders own 3.60% of the company’s stock.

MongoDB Trading Up 0.7 %

MongoDB stock opened at $176.61 on Wednesday. The firm has a market cap of $14.34 billion, a P/E ratio of -64.46 and a beta of 1.30. MongoDB, Inc. has a 1-year low of $170.66 and a 1-year high of $387.19. The firm has a 50-day moving average of $242.38 and a 200-day moving average of $264.31.

MongoDB (NASDAQ:MDB) last released its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to the consensus estimate of $519.65 million. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. During the same quarter last year, the firm earned $0.86 EPS. Research analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on MDB shares. Scotiabank restated a “sector perform” rating and set a $240.00 price target (down from $275.00) on shares of MongoDB in a research report on Wednesday, March 5th. Piper Sandler reduced their target price on MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Mizuho raised their price target on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a report on Tuesday, December 10th. Stifel Nicolaus cut their price objective on MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a report on Thursday, March 6th. Finally, Loop Capital decreased their price objective on shares of MongoDB from $400.00 to $350.00 and set a “buy” rating on the stock in a research report on Monday, March 3rd. Seven equities research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $312.84.

MongoDB Company Profile

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.