Avala Global LP Makes New $47.96 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Avala Global LP acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 177,400 shares of the company’s stock, valued at approximately $47,960,000. MongoDB accounts for 3.2% of Avala Global LP’s holdings, making the stock its 14th biggest holding. Avala Global LP owned 0.24% of MongoDB as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in MDB. MFA Wealth Advisors LLC acquired a new stake in MongoDB in the second quarter valued at approximately $25,000. J.Safra Asset Management Corp raised its holdings in shares of MongoDB by 682.4% in the 2nd quarter. J.Safra Asset Management Corp now owns 133 shares of the company’s stock valued at $33,000 after purchasing an additional 116 shares in the last quarter. Quarry LP raised its holdings in shares of MongoDB by 2,580.0% in the 2nd quarter. Quarry LP now owns 134 shares of the company’s stock valued at $33,000 after purchasing an additional 129 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of MongoDB during the 3rd quarter worth $36,000. Finally, Hantz Financial Services Inc. acquired a new position in shares of MongoDB during the second quarter worth $35,000. 89.29% of the stock is owned by institutional investors and hedge funds.

MongoDB Price Performance

MongoDB stock opened at $322.49 on Monday. 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 business has a 50 day simple moving average of $283.54 and a 200-day simple moving average of $270.41. MongoDB, Inc. has a 12 month low of $212.74 and a 12 month high of $509.62. The stock has a market capitalization of $23.82 billion, a PE ratio of -106.78 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.21. The company had revenue of $478.11 million for the quarter, compared to analysts’ expectations of $465.03 million. MongoDB had a negative net margin of 12.08% and a negative return on equity of 15.06%. MongoDB’s revenue was up 12.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.63) EPS. Equities analysts predict that MongoDB, Inc. will post -2.37 earnings per share for the current year.

Insider Transactions at MongoDB

In related news, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total value of $872,370.00. Following the sale, the director now directly owns 1,135,006 shares in the company, valued at $330,048,394.74. The trade was a 0.26 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CAO Thomas Bull sold 154 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $39,462.50. Following the completion of the transaction, the chief accounting officer now owns 16,068 shares of the company’s stock, valued at $4,117,425. The trade was a 0.95 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,600 shares of company stock worth $7,442,189 over the last ninety days. 3.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on MDB. Bank of America raised their price target on MongoDB from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Friday, August 30th. Truist Financial raised their target price on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, August 30th. Barclays upped their price target on MongoDB from $290.00 to $345.00 and gave the company an “overweight” rating in a report on Friday, November 15th. Sanford C. Bernstein raised their price objective on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Finally, Oppenheimer upped their target price on shares of MongoDB from $300.00 to $350.00 and gave the company an “outperform” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $340.29.

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.