Thematics Asset Management Has $32.47 Million Stock Position in MongoDB, Inc. $MDB

Thematics Asset Management lowered its position in shares of MongoDB, Inc. (NASDAQ:MDB) by 7.3% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 104,601 shares of the company’s stock after selling 8,212 shares during the period. MongoDB comprises about 1.5% of Thematics Asset Management’s portfolio, making the stock its 16th biggest position. Thematics Asset Management owned about 0.13% of MongoDB worth $32,466,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Melqart Asset Management UK Ltd acquired a new stake in MongoDB in the third quarter valued at $10,086,000. Wellington Management Group LLP grew its stake in MongoDB by 16.4% during the third quarter. Wellington Management Group LLP now owns 167,767 shares of the company’s stock worth $52,072,000 after purchasing an additional 23,615 shares during the period. Investors Towarzystwo Funduszy Inwestycyjnych Spolka Akcyjna bought a new stake in shares of MongoDB in the 3rd quarter valued at $186,000. Bank of Hawaii bought a new stake in MongoDB in the third quarter valued at $1,223,000. Finally, Pinnbrook Capital Management LP bought a new stake in MongoDB in the 3rd quarter valued at about $4,506,000. 89.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. KeyCorp restated a “sector weight” rating on shares of MongoDB in a research note on Tuesday, December 2nd. Robert W. Baird reiterated a “neutral” rating and set a $260.00 price target (down from $500.00) on shares of MongoDB in a report on Tuesday, March 3rd. Sanford C. Bernstein lowered shares of MongoDB from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of MongoDB in a research report on Monday, December 29th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $475.00 price objective on shares of MongoDB in a report on Tuesday, March 3rd. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $354.18.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $407.70, for a total value of $4,077,000.00. Following the sale, the director directly owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. The trade was a 0.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the completion of the sale, the director directly owned 25,659 shares in the company, valued at $10,824,249.15. This trade represents a 5.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 21,949 shares of company stock valued at $8,981,630. 3.10% of the stock is owned by corporate insiders.

MongoDB Stock Down 0.1%

NASDAQ MDB opened at $260.50 on Friday. The company has a 50-day simple moving average of $354.08 and a two-hundred day simple moving average of $352.74. MongoDB, Inc. has a 12-month low of $140.78 and a 12-month high of $444.72. The firm has a market cap of $21.20 billion, a price-to-earnings ratio of -296.02 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Monday, March 2nd. The company reported $1.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same quarter last year, the firm earned $1.28 EPS. The company’s revenue was up 26.8% on a year-over-year basis. Equities analysts expect that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

MongoDB Company Profile

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.