KLP Kapitalforvaltning AS Acquires New Stake in MongoDB, Inc. (NASDAQ:MDB)

KLP Kapitalforvaltning AS bought a new position in MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 24,100 shares of the company’s stock, valued at approximately $5,611,000.

Several other institutional investors and hedge funds have also made changes to their positions in MDB. AXQ Capital LP purchased a new stake in shares of MongoDB in the fourth quarter valued at approximately $493,000. Quantbot Technologies LP purchased a new stake in shares of MongoDB in the 4th quarter worth $702,000. Virtu Financial LLC grew its position in shares of MongoDB by 101.7% during the 4th quarter. Virtu Financial LLC now owns 20,202 shares of the company’s stock worth $4,703,000 after buying an additional 10,186 shares in the last quarter. Royal London Asset Management Ltd. increased its stake in shares of MongoDB by 8.1% during the fourth quarter. Royal London Asset Management Ltd. now owns 30,096 shares of the company’s stock valued at $7,007,000 after buying an additional 2,266 shares during the period. Finally, Kazazian Asset Management LLC bought a new stake in shares of MongoDB in the fourth quarter valued at about $1,229,000. 89.29% of the stock is currently owned by institutional investors.

MongoDB Stock Up 0.6 %

Shares of MDB stock opened at $198.66 on Wednesday. MongoDB, Inc. has a 52-week low of $173.13 and a 52-week high of $387.19. The stock has a market cap of $14.79 billion, a PE ratio of -72.50 and a beta of 1.30. The business has a 50-day simple moving average of $249.24 and a 200-day simple moving average of $268.17.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings results on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). The company had revenue of $548.40 million during the quarter, compared to analyst estimates 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 period in the previous year, the firm posted $0.86 earnings per share. Sell-side analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms have commented on MDB. The Goldman Sachs Group cut their target price on shares of MongoDB from $390.00 to $335.00 and set a “buy” rating on the stock in a research report on Thursday, March 6th. Wells Fargo & Company downgraded shares of MongoDB from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $365.00 to $225.00 in a research note on Thursday, March 6th. Mizuho increased their target price on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research report on Tuesday, December 10th. China Renaissance initiated coverage on MongoDB in a research report on Tuesday, January 21st. They issued a “buy” rating and a $351.00 price target for the company. Finally, Wedbush dropped their price objective on MongoDB from $360.00 to $300.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Seven analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $320.70.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $270.63, for a total transaction of $811,890.00. Following the transaction, the director now owns 1,109,006 shares in the company, valued at $300,130,293.78. This trade represents a 0.27 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Cedric Pech sold 287 shares of MongoDB stock in a transaction on 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 $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,139 shares of company stock valued at $11,328,869. Corporate insiders own 3.60% of the company’s stock.

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.