Truvestments Capital LLC Buys Shares of 307 MongoDB, Inc. (NASDAQ:MDB)

Truvestments Capital LLC purchased a new position in MongoDB, Inc. (NASDAQ:MDB) in the third quarter, Holdings Channel reports. The fund purchased 307 shares of the company’s stock, valued at approximately $83,000.

Other hedge funds have also made changes to their positions in the company. Jennison Associates LLC boosted its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Swedbank AB lifted its holdings in shares of MongoDB by 156.3% during the 2nd quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after buying an additional 400,705 shares during the last quarter. Westfield Capital Management Co. LP grew its stake in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after buying an additional 7,526 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after buying an additional 388,979 shares during the last quarter. Finally, Blair William & Co. IL lifted its stake in MongoDB by 16.4% in the second quarter. Blair William & Co. IL now owns 315,830 shares of the company’s stock valued at $78,945,000 after acquiring an additional 44,608 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently commented on MDB shares. Wedbush upgraded shares of MongoDB to a “strong-buy” rating in a research note on Thursday, October 17th. Wells Fargo & Company raised their target price on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Needham & Company LLC upped their price target on MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Royal Bank of Canada reissued an “outperform” rating and issued a $350.00 price objective on shares of MongoDB in a research note on Friday, August 30th. Finally, Oppenheimer boosted their target price on MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, MongoDB has an average rating of “Moderate Buy” and a consensus price target of $340.29.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $290.40, for a total transaction of $290,400.00. Following the completion of the transaction, the director now owns 1,138,006 shares in the company, valued at $330,476,942.40. This trade represents a 0.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Thomas Bull sold 154 shares of the company’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the sale, the chief accounting officer now owns 16,068 shares in the company, valued at $4,117,425. This trade represents a 0.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 25,600 shares of company stock worth $7,034,249. Corporate insiders own 3.60% of the company’s stock.

MongoDB Trading Down 1.7 %

MongoDB stock opened at $335.40 on Wednesday. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The stock has a market cap of $24.78 billion, a price-to-earnings ratio of -111.06 and a beta of 1.15. The business has a 50 day moving average price of $280.95 and a two-hundred day moving average price of $271.28. The company has a quick ratio of 5.03, a current ratio of 5.03 and a debt-to-equity ratio of 0.84.

MongoDB (NASDAQ:MDB) last issued its earnings results on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping the consensus estimate of $0.49 by $0.21. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. MongoDB’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same period last year, the business earned ($0.63) earnings per share. As a group, equities analysts forecast that MongoDB, Inc. will post -2.39 EPS for the current year.

About MongoDB

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.