Peregrine Investment Management Inc. Invests $3.77 Million in MongoDB, Inc. (NASDAQ:MDB)

Peregrine Investment Management Inc. purchased a new position in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, Holdings Channel.com reports. The fund purchased 16,180 shares of the company’s stock, valued at approximately $3,767,000. MongoDB makes up approximately 2.2% of Peregrine Investment Management Inc.’s holdings, making the stock its 24th biggest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in MDB. Hilltop National Bank boosted its stake in shares of MongoDB by 47.2% during the 4th quarter. Hilltop National Bank now owns 131 shares of the company’s stock worth $30,000 after acquiring an additional 42 shares in the last quarter. Brooklyn Investment Group acquired a new stake in MongoDB in the third quarter valued at approximately $36,000. Continuum Advisory LLC raised its stake in shares of MongoDB by 621.1% during the 3rd quarter. Continuum Advisory LLC now owns 137 shares of the company’s stock worth $40,000 after buying an additional 118 shares during the period. Versant Capital Management Inc grew its stake in MongoDB by 1,100.0% in the 4th quarter. Versant Capital Management Inc now owns 180 shares of the company’s stock valued at $42,000 after acquiring an additional 165 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new stake in MongoDB in the 3rd quarter worth $44,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

MongoDB Trading Down 1.1 %

Shares of NASDAQ MDB opened at $289.63 on Friday. The stock has a market cap of $21.57 billion, a P/E ratio of -105.70 and a beta of 1.28. The business’s fifty day simple moving average is $262.66 and its 200-day simple moving average is $272.02. MongoDB, Inc. has a 12-month low of $212.74 and a 12-month high of $488.00.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, December 9th. The company reported $1.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million during the quarter, compared to analysts’ expectations of $497.39 million. During the same quarter last year, the business posted $0.96 EPS. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. On average, equities analysts forecast that MongoDB, Inc. will post -1.78 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on MDB. Mizuho upped their price target on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price target (up from $320.00) on shares of MongoDB in a research note on Tuesday, December 10th. Monness Crespi & Hardt downgraded MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective for the company. in a research note on Monday, December 16th. Barclays lowered their target price on shares of MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Finally, Oppenheimer increased their target price on shares of MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating, twenty-three have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB currently has a consensus rating of “Moderate Buy” and an average target price of $361.00.

Insider Buying and Selling at MongoDB

In other MongoDB news, CAO Thomas Bull sold 169 shares of the 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 $39,561.21. Following the transaction, the chief accounting officer now directly owns 14,899 shares in the company, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $281.62, for a total transaction of $281,620.00. Following the completion of the sale, the director now directly owns 1,112,006 shares of the company’s stock, valued at approximately $313,163,129.72. This trade represents a 0.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 43,094 shares of company stock valued at $11,705,293. Insiders own 3.60% of the company’s stock.

MongoDB 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.