Kornitzer Capital Management Inc. KS Acquires Shares of 1,225 MongoDB, Inc. (NASDAQ:MDB)

Kornitzer Capital Management Inc. KS acquired a new stake in MongoDB, Inc. (NASDAQ:MDB) in the 4th quarter, Holdings Channel.com reports. The fund acquired 1,225 shares of the company’s stock, valued at approximately $285,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Jennison Associates LLC increased its stake in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after purchasing an additional 34,814 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in shares of MongoDB by 1.5% in the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after purchasing an additional 7,526 shares during the last quarter. Holocene Advisors LP increased its stake in shares of MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after purchasing an additional 66,730 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of MongoDB by 11,057.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock valued at $69,119,000 after purchasing an additional 294,228 shares during the last quarter. 89.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MDB. Mizuho lifted their price target on MongoDB from $275.00 to $320.00 and gave the company a “neutral” rating in a research note on Tuesday, December 10th. Citigroup boosted their price objective on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Monday, December 16th. Tigress Financial boosted their price objective on MongoDB from $400.00 to $430.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Macquarie initiated coverage on MongoDB in a research report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective on the stock. Finally, Monness Crespi & Hardt lowered MongoDB from a “neutral” rating to a “sell” rating and set a $220.00 price objective on the stock. in a research report on Monday, December 16th. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating, twenty-three have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $361.00.

MongoDB Stock Performance

MDB stock opened at $295.00 on Thursday. The stock’s 50 day simple moving average is $261.56 and its 200 day simple moving average is $273.13. MongoDB, Inc. has a fifty-two week low of $212.74 and a fifty-two week high of $459.78. The company has a market cap of $21.97 billion, a P/E ratio of -107.66 and a beta of 1.28.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The business had revenue of $529.40 million for the quarter, compared to the consensus estimate of $497.39 million. During the same period in the prior year, the business earned $0.96 EPS. The firm’s revenue for the quarter was up 22.3% on a year-over-year basis. Equities analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Dwight A. Merriman sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $349.17, for a total value of $698,340.00. Following the completion of the transaction, the director now directly owns 1,124,006 shares of the company’s stock, valued at $392,469,175.02. This represents a 0.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Thomas Bull sold 169 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the completion of the transaction, the chief accounting officer now directly owns 14,899 shares of the company’s stock, valued at approximately $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,094 shares of company stock valued at $11,705,293. Corporate 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.