Harvest Fund Management Co. Ltd Buys 1,183 Shares of MongoDB, Inc. (NASDAQ:MDB)

Harvest Fund Management Co. Ltd boosted its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 53.3% in the third quarter, Holdings Channel reports. The firm owned 3,403 shares of the company’s stock after acquiring an additional 1,183 shares during the period. Harvest Fund Management Co. Ltd’s holdings in MongoDB were worth $919,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in MDB. Jennison Associates LLC boosted its position in shares of MongoDB by 23.6% in the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after acquiring an additional 592,038 shares during the period. Swedbank AB boosted its position in shares of MongoDB by 156.3% in the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock valued at $164,222,000 after acquiring an additional 400,705 shares during the period. Thrivent Financial for Lutherans boosted its position in shares of MongoDB by 1,098.1% in the second quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after acquiring an additional 388,979 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of MongoDB in the second quarter valued at approximately $52,131,000. Finally, Renaissance Technologies LLC boosted its position in shares of MongoDB by 828.9% in the second quarter. Renaissance Technologies LLC now owns 183,000 shares of the company’s stock valued at $45,743,000 after acquiring an additional 163,300 shares during the period. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

MDB has been the subject of several research reports. Citigroup increased their price objective on MongoDB from $350.00 to $400.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley increased their price objective on MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research report on Friday, August 30th. Scotiabank increased their price objective on MongoDB from $250.00 to $295.00 and gave the company a “sector perform” rating in a research report on Friday, August 30th. Mizuho upped their target price on MongoDB from $250.00 to $275.00 and gave the company a “neutral” rating in a research note on Friday, August 30th. Finally, Wells Fargo & Company upped their target price on MongoDB from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. One analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $336.54.

Insider Activity

In related news, Director Dwight A. Merriman sold 1,000 shares of the firm’s stock in a transaction dated Friday, August 30th. The stock was sold at an average price of $290.40, for a total value of $290,400.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $290.31, for a total value of $1,451,550.00. Following the completion of the transaction, the chief financial officer now owns 80,307 shares in the company, valued at approximately $23,313,925.17. This represents a 5.86 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,600 shares of company stock worth $7,034,249. 3.60% of the stock is owned by corporate insiders.

MongoDB Stock Performance

MongoDB stock opened at $341.36 on Tuesday. MongoDB, Inc. has a 52-week low of $212.74 and a 52-week high of $509.62. The firm has a market capitalization of $25.22 billion, a P/E ratio of -113.03 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. The stock has a fifty day moving average price of $279.98 and a two-hundred day moving average price of $271.41.

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

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.