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.