Avala Global LP Takes $47.96 Million Position in MongoDB, Inc. (NASDAQ:MDB)

Avala Global LP acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 177,400 shares of the company’s stock, valued at approximately $47,960,000. MongoDB comprises approximately 3.2% of Avala Global LP’s portfolio, making the stock its 14th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Atria Investments Inc lifted its position in shares of MongoDB by 1.2% in the first quarter. Atria Investments Inc now owns 3,259 shares of the company’s stock valued at $1,169,000 after acquiring an additional 39 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of MongoDB by 327.6% during the 1st quarter. Cetera Investment Advisers now owns 10,873 shares of the company’s stock worth $3,899,000 after purchasing an additional 8,330 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of MongoDB by 106.9% during the first quarter. Cetera Advisors LLC now owns 1,558 shares of the company’s stock worth $559,000 after buying an additional 805 shares in the last quarter. Moody National Bank Trust Division raised its position in shares of MongoDB by 4.1% in the second quarter. Moody National Bank Trust Division now owns 1,553 shares of the company’s stock valued at $388,000 after buying an additional 61 shares during the last quarter. Finally, Quent Capital LLC lifted its stake in shares of MongoDB by 57.2% during the second quarter. Quent Capital LLC now owns 945 shares of the company’s stock valued at $236,000 after buying an additional 344 shares during the period. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Michael Lawrence Gordon sold 5,000 shares of the 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 sale, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This trade represents a 5.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the transaction, the director now owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. This represents a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,600 shares of company stock valued at $7,442,189 over the last quarter. Insiders own 3.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on MDB shares. Truist Financial increased their price target on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. UBS Group upped their price objective on MongoDB from $250.00 to $275.00 and gave the stock a “neutral” rating in a report on Friday, August 30th. Stifel Nicolaus lifted their target price on MongoDB from $300.00 to $325.00 and gave the company a “buy” rating in a report on Friday, August 30th. Scotiabank upped their price target on MongoDB from $250.00 to $295.00 and gave the stock a “sector perform” rating in a research note on Friday, August 30th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $350.00 price objective on shares of MongoDB in a research note on Friday, August 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $340.29.

MongoDB Stock Down 0.7 %

NASDAQ:MDB opened at $322.49 on Monday. The stock has a 50-day simple moving average of $283.54 and a 200 day simple moving average of $270.41. MongoDB, Inc. has a one year low of $212.74 and a one year high of $509.62. The company has a market capitalization of $23.82 billion, a price-to-earnings ratio of -106.78 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 released its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping 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 firm had revenue of $478.11 million during the quarter, compared to the consensus estimate of $465.03 million. During the same quarter in the previous year, the company posted ($0.63) earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Sell-side analysts predict that MongoDB, Inc. will post -2.37 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.