Kentucky Retirement Systems Insurance Trust Fund Takes Position in MongoDB, Inc. (NASDAQ:MDB)

Kentucky Retirement Systems Insurance Trust Fund bought a new position in MongoDB, Inc. (NASDAQ:MDB) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,082 shares of the company’s stock, valued at approximately $365,000.

A number of other hedge funds also recently made changes to their positions in the company. HighTower Advisors LLC increased its stake in MongoDB by 2.0% in the 4th quarter. HighTower Advisors LLC now owns 18,773 shares of the company’s stock worth $4,371,000 after acquiring an additional 372 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in shares of MongoDB by 68.0% in the fourth quarter. Jones Financial Companies Lllp now owns 1,020 shares of the company’s stock valued at $237,000 after purchasing an additional 413 shares in the last quarter. Smartleaf Asset Management LLC increased its position in MongoDB by 56.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 370 shares of the company’s stock worth $87,000 after purchasing an additional 134 shares during the last quarter. 111 Capital purchased a new stake in MongoDB during the fourth quarter valued at $390,000. Finally, Park Avenue Securities LLC raised its stake in MongoDB by 52.6% during the first quarter. Park Avenue Securities LLC now owns 2,630 shares of the company’s stock valued at $461,000 after purchasing an additional 907 shares in the last quarter. 89.29% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director Hope F. Cochran sold 1,175 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $174.69, for a total value of $205,260.75. Following the completion of the transaction, the director now directly owns 19,333 shares of the company’s stock, valued at approximately $3,377,281.77. The trade was a 5.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dev Ittycheria sold 18,512 shares of the firm’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total value of $3,207,389.12. Following the sale, the chief executive officer now directly owns 268,948 shares in the company, valued at approximately $46,597,930.48. The trade was a 6.44% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,382 shares of company stock worth $10,403,807. Company insiders own 3.10% of the company’s stock.

MongoDB Stock Performance

MongoDB stock opened at $206.76 on Thursday. The company has a market capitalization of $16.89 billion, a PE ratio of -181.37 and a beta of 1.39. The company has a 50 day moving average price of $188.81 and a 200-day moving average price of $219.23. MongoDB, Inc. has a fifty-two week low of $140.78 and a fifty-two week high of $370.00.

MongoDB (NASDAQ:MDB) last released its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 EPS for the quarter, topping the consensus estimate of $0.65 by $0.35. The company had revenue of $549.01 million for the quarter, compared to the consensus estimate of $527.49 million. MongoDB had a negative return on equity of 3.16% and a negative net margin of 4.09%. MongoDB’s quarterly revenue was up 21.8% on a year-over-year basis. During the same period last year, the business posted $0.51 EPS. On average, analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Piper Sandler boosted their target price on shares of MongoDB from $200.00 to $275.00 and gave the stock an “overweight” rating in a report on Thursday, June 5th. KeyCorp lowered MongoDB from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 5th. Monness Crespi & Hardt upgraded MongoDB from a “neutral” rating to a “buy” rating and set a $295.00 price objective on the stock in a research report on Thursday, June 5th. Scotiabank raised their price objective on MongoDB from $160.00 to $230.00 and gave the company a “sector perform” rating in a research note on Thursday, June 5th. Finally, JMP Securities reissued a “market outperform” rating and set a $345.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Eight equities research analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $282.47.

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.