Article &DnB Asset Management AS Increases Position in MongoDB, Inc.
Article Date: September 18, 2023
&DnB Asset Management AS, a prominent institutional investor, has recently revealed its increased position in MongoDB, Inc. during the second quarter of this year. According to recent disclosures with the Securities & Exchange Commission, the company acquired an additional 522 shares of MongoDB, boosting its overall holdings by 5.1%. As a result, &DnB Asset Management AS now owns 10,680 shares of MongoDB stock with an approximate value of $4.39 million as of the end of the most recent quarter.
MongoDB, Inc. is a globally recognized provider of a general-purpose database platform. The company offers a range of solutions such as MongoDB Atlas – a hosted multi-cloud database-as-a-service offering; MongoDB Enterprise Advanced – a commercial database server catering to enterprise customers; and Community Server – a free-to-download version equipped with essential features for developers to initiate their work on the platform.
On Monday, MongoDB stock commenced trading at $362.13 per share. The company has witnessed significant price fluctuations over the past year, with its 52-week low at $135.15 and its 52-week high reaching $439.00. As for its financial health indicators, MongoDB demonstrates a quick ratio and current ratio of 4.48 each while maintaining a debt-to-equity ratio of 1.29. Additionally, the firm’s 50-day simple moving average stands at $385.82 and its 200-day simple moving average is recorded at $316.93.
With a sizable market capitalization amounting to $25.84 billion and a beta coefficient standing at 1.11 indicating moderate volatility compared to the market benchmark, MongoDB continues to solidify its presence in an evolving industry.
&DnB Asset Management AS’ decision to increase their position in MongoDB reflects their confidence in the company’s potential for further growth and success. As an institutional investor, &DnB Asset Management AS strategically manages its investment portfolio, and the addition of MongoDB shares affirms their optimistic outlook on the future prospects of the database platform provider.
As always, investors are encouraged to conduct thorough research and consult with financial advisors before making any investment decisions. The financial markets can be volatile, and individual circumstances vary.
Leggett & Platt, Incorporated
Updated on: 03/12/2023
Debt to equity ratio: Strong Buy
Price to earnings ratio: Strong Buy
Price to book ratio: Strong Buy
DCF: Strong Buy
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Shifts in Stakeholding and Confidence in MongoDB: A Look at Institutional Investors, Hedge Funds, and Insider Trading
MongoDB, Inc, a global general purpose database platform provider, has seen several hedge funds adjust their stakes in the company. 1832 Asset Management L.P. increased its holdings in MongoDB by a staggering 3,283,771.0% during the fourth quarter. This move resulted in 1832 Asset Management L.P. now owning 1,018,000 shares of the company’s stock valued at $200,383,000 after acquiring an additional 1,017,969 shares in the last quarter.
Price T Rowe Associates Inc. MD also added to their stake in MongoDB, increasing their ownership by 13.4% during the first quarter. They now own 7,593,996 shares of the company’s stock valued at $1,770,313,000 after purchasing an additional 897,911 shares.
Renaissance Technologies LLC followed suit by raising its stake in MongoDB by a significant 493.2% during the fourth quarter. As a result of this move, Renaissance Technologies LLC now owns 918,200 shares of the company’s stock valued at $180,738,000 after acquiring an additional 763,400 shares.
Norges Bank also made a notable move in acquiring a new position in MongoDB during the fourth quarter valued at approximately $147,735 about thousands of dollars: norgs(8) machine learning based algorithm potentially correct stock price movements from september data approximation given for September ,18th . Meanwhile , In other news relevant to investors , champlain investment partners llc purchased an estimated amount summarized as approximately $89 million worth of newly invested funds being placed into mongodb firm.
Overall ownership and stakes appear to be dominated by institutional investors and hedge funds who account for approximately folds of entire market capitalization were exposed within fiscal year endending reports!
In addition to changes made by institutional investors and hedge funds regarding their stakeholding levels within MongoDB group limited there was also some notable insider trading activity. CEO Dev Ittycheria sold 50,000 shares of the company’s stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $407.07, resulting in a total value of $20,353,500. Following this sale, the CEO now directly owns 218,085 shares in the company valued at approximately $88,775,860.95.
Moreover , In addition to this insider trading activity , we also observed that CTO Mark Porter sold 2,734 shares of the business’s stock on Monday , specifically during july right after the holiday occasion so market volume to be low like july which is widely recognized and established the fact . These stocks were sold at an average price of $412.33 leading to a total transaction value summarizable as $1,127,310 equivalent worth .
Insiders have been busy with their transactions as it was revealed that a total of 97,520 shares were offloaded in recent months oh approximately septembers , thus amounting to a whopping $39 million dollars generated through these sales alone!
Taking into account all these activities taking place both within and outside MongoDB itself- what does this tell us about investors’ confidence levels? Well it seems from various reports issued by different brokerages commenting on MDB’s recent move that despite some analysts rating them negatively others favoring optimism surrounding future outlooks overall sentiment remains positive
Citigroup for instance increased its price target on MDB shares from $430 to $455 and gave it a “buy” rating.
On the other hand , VNET Group maintained their neutral position regarding short term analysis should Investor After couple years expect next variation would deteriorate company position however Oppenheimer raised its target price even further placing it at a significant level between [$480-$505]!
Then The Goldman Sachs Group seems believe mdb will consolidate furthered raise any resistance levels currently holds steady, report mentioned raise their target price from $420 to $440. All this additional price coverage of course ultimately is driven by JMP securities , who notably raised their targets even higher in september at $425 reaching as high $440 a value giving these stocks moderate outweighing positive outlooks
In conclusion, despite the recent shifts in stakeholding by institutional investors and hedge funds, it is evident that confidence in MongoDB remains high. The company’s general purpose database platform has attracted attention from both investors and analysts alike. Analysts have provided positive ratings and upward revisions to price targets, indicating a favorable outlook for the company’s stock. As we move forward into the future, it will be interesting to see how MongoDB continues to perform and if investors maintain their trust in the company’s long-term potential.
*The above analysis is based on available data as of September 18th, 2023 and may not reflect current market conditions.*