5 Investors Betting Big on MongoDB (MDB) Stock Now

Source: Michael Vi / Shutterstock.com

Shares of cloud services company MongoDB (NASDAQ:MDB) are on a tear today, with MDB stock rising more than 25% in early afternoon trading on a stellar earnings report.

The company reported top- and bottom-line beats. However, unlike most beats, which are typically marginal, MongoDB blew the analysts out of the water. Revenue came in at $368 million for the first quarter, well ahead of the $347 million expected. Additionally, earnings per share exploded higher to 56 cents, compared to the expectation of only 19 cents. That’s a resounding beat that investors can hang their hats on.

MongoDB noted that the company added 2,300 customers during the quarter, increasing its total customer base roughly 5%. That’s much higher than what the Street was expecting. Impressively, despite increasing spending on various sales and marketing-related categories, MongoDB’s margins improved, suggesting significant operating leverage within this business model.

There’s a lot to like about these numbers, and it’s clear retail and institutional investors are diving in. Let’s take a look at which big-money players are continuing to bet on this name right now.

Top Investors in MDB Stock

According to data from Yahoo Finance, here are the five largest institutional investors in Mongo DB.

  • T. Rowe Price (NASDAQ:TROW) owns 7.6 million shares, or 10.8% of the company.
  • Vanguard owns 6.4 million shares, or 9.1% of the company.
  • FMR owns 5.1 million shares, or 7.2% of the company.
  • Blackrock (NYSE:BLK) owns 5.1 million shares, or 7.2% of the company.
  • JPMorgan Chase (NYSE:JPM) owns 3.6 million shares, or 5.1% of the company.

On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

Chris MacDonald’s love for investing led him to pursue an MBA in Finance and take on a number of management roles in corporate finance and venture capital over the past 15 years. His experience as a financial analyst in the past, coupled with his fervor for finding undervalued growth opportunities, contribute to his conservative, long-term investing perspective.

Source link

Share with your friends!

Products You May Like

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the latest stocks updates
straight to your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.

x Logo: Shield Security
This Site Is Protected By
Shield Security