Healthcare of Ontario Pension Plan Trust Fund Boosts Position in MongoDB, Inc. (NASDAQ:MDB)

Posted by Defense World Staff on Mar 2nd, 2023

Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB – Get Rating) by 8.5% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,379 shares of the company’s stock after buying an additional 186 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in MongoDB were worth $472,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Sentry Investment Management LLC purchased a new position in shares of MongoDB during the third quarter worth about $33,000. Alta Advisers Ltd purchased a new position in shares of MongoDB during the third quarter worth about $40,000. Huntington National Bank grew its holdings in shares of MongoDB by 1,468.8% during the third quarter. Huntington National Bank now owns 251 shares of the company’s stock worth $50,000 after purchasing an additional 235 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of MongoDB by 37.8% during the second quarter. Quadrant Capital Group LLC now owns 419 shares of the company’s stock worth $109,000 after purchasing an additional 115 shares in the last quarter. Finally, IFP Advisors Inc grew its holdings in shares of MongoDB by 28.9% during the third quarter. IFP Advisors Inc now owns 1,760 shares of the company’s stock worth $155,000 after purchasing an additional 395 shares in the last quarter. Hedge funds and other institutional investors own 84.86% of the company’s stock.

MongoDB Price Performance

Shares of MDB stock opened at $209.97 on Thursday. The stock has a market cap of $14.55 billion, a price-to-earnings ratio of -39.10 and a beta of 0.94. The business’s fifty day moving average is $205.04 and its 200 day moving average is $209.32. MongoDB, Inc. has a twelve month low of $135.15 and a twelve month high of $471.96. The company has a quick ratio of 4.10, a current ratio of 4.10 and a debt-to-equity ratio of 1.66.

MongoDB (NASDAQ:MDB – Get Rating) last issued its quarterly earnings results on Tuesday, December 6th. The company reported ($1.23) earnings per share for the quarter, topping the consensus estimate of ($1.48) by $0.25. The company had revenue of $333.62 million for the quarter, compared to analysts’ expectations of $302.39 million. MongoDB had a negative return on equity of 52.50% and a negative net margin of 30.73%. Research analysts expect that MongoDB, Inc. will post -4.65 EPS for the current fiscal year.

Insider Transactions at MongoDB

In other news, CTO Mark Porter sold 635 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $187.72, for a total value of $119,202.20. Following the sale, the chief technology officer now directly owns 27,577 shares of the company’s stock, valued at $5,176,754.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, CTO Mark Porter sold 635 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $187.72, for a total value of $119,202.20. Following the sale, the chief technology officer now directly owns 27,577 shares of the company’s stock, valued at $5,176,754.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CRO Cedric Pech sold 328 shares of the stock in a transaction on Tuesday, January 3rd. The stock was sold at an average price of $199.31, for a total value of $65,373.68. Following the completion of the sale, the executive now directly owns 33,829 shares in the company, valued at $6,742,457.99. The disclosure for this sale can be found here. Over the last three months, insiders have sold 58,074 shares of company stock valued at $11,604,647. Insiders own 5.70% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. JMP Securities raised MongoDB from a “market perform” rating to an “outperform” rating and set a $215.00 target price for the company in a research note on Wednesday, December 7th. Sanford C. Bernstein assumed coverage on MongoDB in a research note on Friday, February 17th. They issued an “outperform” rating and a $282.00 target price for the company. The Goldman Sachs Group cut their target price on MongoDB from $380.00 to $325.00 and set a “buy” rating for the company in a research note on Wednesday, December 7th. Stifel Nicolaus cut their target price on MongoDB from $256.00 to $240.00 in a research note on Thursday, February 23rd. Finally, Robert W. Baird upped their target price on MongoDB from $205.00 to $230.00 in a research note on Wednesday, December 7th. Four analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, MongoDB presently has an average rating of “Moderate Buy” and an average target price of $266.35.

MongoDB Profile

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MongoDB, Inc engages in the development and provision of a general-purpose database platform. The firm’s products include MongoDB Enterprise Advanced, MongoDB Atlas and Community Server. It also offers professional services including consulting and training. The company was founded by Eliot Horowitz, Dwight A.