Octahedron Capital Management L.P. Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Octahedron Capital Management L.P. bought a new position in shares of MongoDB, Inc. (NASDAQ:MDB) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 2,100 shares of the company’s stock, valued at approximately $525,000. MongoDB comprises approximately 0.5% of Octahedron Capital Management L.P.’s holdings, making the stock its 16th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its stake in MongoDB by 2.9% during the 4th quarter. Vanguard Group Inc. now owns 6,842,413 shares of the company’s stock worth $2,797,521,000 after acquiring an additional 194,148 shares during the period. Atalanta Sosnoff Capital LLC raised its position in shares of MongoDB by 24.7% during the fourth quarter. Atalanta Sosnoff Capital LLC now owns 54,311 shares of the company’s stock worth $22,205,000 after acquiring an additional 10,753 shares during the last quarter. Artisan Partners Limited Partnership bought a new position in shares of MongoDB during the fourth quarter worth about $10,545,000. Prudential PLC boosted its holdings in MongoDB by 2.4% in the fourth quarter. Prudential PLC now owns 21,169 shares of the company’s stock valued at $8,655,000 after acquiring an additional 489 shares during the last quarter. Finally, Bornite Capital Management LP acquired a new stake in MongoDB during the 4th quarter valued at approximately $6,133,000. Institutional investors own 89.29% of the company’s stock.

MongoDB Price Performance

Shares of MDB stock opened at $278.45 on Friday. The business’s 50 day moving average price is $259.06 and its 200-day moving average price is $298.68. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $509.62. The firm has a market cap of $20.42 billion, a P/E ratio of -99.09 and a beta of 1.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 5.03 and a current ratio of 5.03.

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 net margin of 12.08% and a negative return on equity of 15.06%. The business had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same quarter last year, the firm earned ($0.63) earnings per share. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that MongoDB, Inc. will post -2.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

MDB has been the topic of several recent analyst reports. Robert W. Baird dropped their target price on shares of MongoDB from $450.00 to $305.00 and set an “outperform” rating on the stock in a research report on Friday, May 31st. Sanford C. Bernstein boosted their target price on MongoDB from $358.00 to $360.00 and gave the company an “outperform” rating in a research note on Friday, August 30th. Morgan Stanley upped their price objective on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a report on Friday, August 30th. Needham & Company LLC lifted their target price on shares of MongoDB from $290.00 to $335.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Finally, Barclays reduced their price target on MongoDB from $458.00 to $290.00 and set an “overweight” rating for the company in a research report on Friday, May 31st. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, MongoDB has a consensus rating of “Moderate Buy” and an average price target of $337.56.

Insider Buying and Selling at MongoDB

In other news, Director Dwight A. Merriman sold 3,000 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the transaction, the director now directly owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $290.79, for a total transaction of $872,370.00. Following the completion of the sale, the director now owns 1,135,006 shares of the company’s stock, valued at approximately $330,048,394.74. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John Dennis Mcmahon sold 10,000 shares of the company’s stock in a transaction on Monday, June 24th. The stock was sold at an average price of $228.00, for a total value of $2,280,000.00. Following the completion of the sale, the director now owns 20,020 shares of the company’s stock, valued at $4,564,560. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,005 shares of company stock worth $8,082,746. Company 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.