Hidden Lake Asset Management LP Invests $5.49 Million in MongoDB, Inc. $MDB

Hidden Lake Asset Management LP bought a new stake in MongoDB, Inc. (NASDAQ:MDB) during the third quarter, Holdings Channel reports. The institutional investor bought 17,689 shares of the company’s stock, valued at approximately $5,490,000. MongoDB accounts for approximately 0.7% of Hidden Lake Asset Management LP’s investment portfolio, making the stock its 23rd largest holding.

Several other hedge funds also recently modified their holdings of MDB. Vanguard Group Inc. lifted its stake in MongoDB by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 8,985,697 shares of the company’s stock valued at $2,788,981,000 after acquiring an additional 431,382 shares in the last quarter. State Street Corp boosted its holdings in MongoDB by 5.0% during the 2nd quarter. State Street Corp now owns 1,693,194 shares of the company’s stock worth $355,554,000 after acquiring an additional 80,334 shares during the last quarter. Amundi grew its stake in shares of MongoDB by 61.3% in the 3rd quarter. Amundi now owns 1,483,396 shares of the company’s stock worth $477,550,000 after acquiring an additional 563,995 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of MongoDB by 5.2% in the second quarter. Geode Capital Management LLC now owns 1,397,898 shares of the company’s stock valued at $292,597,000 after purchasing an additional 68,611 shares during the last quarter. Finally, AQR Capital Management LLC raised its holdings in shares of MongoDB by 2,567.2% in the second quarter. AQR Capital Management LLC now owns 1,111,647 shares of the company’s stock valued at $233,435,000 after purchasing an additional 1,069,969 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Wall Street Analysts Forecast Growth

MDB has been the topic of several analyst reports. Zacks Research cut shares of MongoDB from a “strong-buy” rating to a “hold” rating in a report on Monday, March 2nd. Mizuho decreased their price objective on shares of MongoDB from $380.00 to $290.00 and set a “neutral” rating for the company in a research note on Tuesday, March 3rd. Truist Financial dropped their target price on shares of MongoDB from $500.00 to $375.00 and set a “buy” rating on the stock in a research report on Tuesday, March 3rd. Scotiabank upgraded MongoDB from a “sector perform” rating to a “sector outperform” rating and boosted their target price for the stock from $275.00 to $310.00 in a research note on Thursday, March 5th. Finally, KeyCorp reaffirmed a “sector weight” rating on shares of MongoDB in a research report on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating, ten have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $354.18.

MongoDB Trading Down 0.1%

NASDAQ:MDB opened at $260.50 on Monday. The stock has a market capitalization of $21.20 billion, a PE ratio of -296.02 and a beta of 1.40. The firm’s 50 day moving average is $354.08 and its 200 day moving average is $354.11. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $444.72.

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

Insiders Place Their Bets

In related news, Director Hope F. Cochran sold 1,566 shares of the business’s stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the sale, the director directly owned 25,659 shares in the company, valued at approximately $10,824,249.15. The trade was a 5.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total value of $4,077,000.00. Following the completion of the sale, the director owned 1,031,316 shares in the company, valued at $420,467,533.20. This represents a 0.96% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 21,949 shares of company stock worth $8,981,630 in the last ninety days. Insiders own 3.10% of the company’s stock.

MongoDB 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.