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Should You Invest in MongoDB (MDB)?

ClearBridge Investments, an investment management company, released its “ClearBridge Select Strategy” third quarter 2022 investor letter. A copy of the same can be downloaded here. The strategy outperformed its benchmark, the Russell 3000 Index, in the third quarter. The strategy’s outperformance in the quarter was attributed to contributions from several smaller-cap, growth-oriented businesses in the consumer discretionary and information technology sectors. In addition, please check the fund’s top five holdings to know its best picks in 2022.

ClearBridge Investments highlighted stocks like MongoDB, Inc. (NASDAQ:MDB) in the Q3 2022 investor letter. Headquartered in New York, New York, MongoDB, Inc. (NASDAQ:MDB) is a global database platform provider. On November 7, 2022, MongoDB, Inc. (NASDAQ:MDB) stock closed at $141.84 per share. One-month return of MongoDB, Inc. (NASDAQ:MDB) was -21.22%, and its shares lost 75.41% of their value over the last 52 weeks. MongoDB, Inc. (NASDAQ:MDB) has a market capitalization of $9.745 billion.

ClearBridge Investments made the following comment about MongoDB, Inc. (NASDAQ:MDB) in its Q3 2022 investor letter:

"We made limited changes to the portfolio in the third quarter. New buys included embryonic positions in several rapid growers — MongoDB, Inc. (NASDAQ:MDB) and Clear Secure (YOU) — whose valuations have come in quite dramatically. MongoDB is a company we followed for many years before its 2017 IPO. The stock looks very attractive trading at a third of its recent peak in November 2021. The company’s database software is growing rapidly and taking share in a $50 billion plus global market."

MongoDB, Inc. (NASDAQ:MDB) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 55 hedge fund portfolios held MongoDB, Inc. (NASDAQ:MDB) at the end of the second quarter which was 61 in the previous quarter.

We discussed MongoDB, Inc. (NASDAQ:MDB) in another article and shared the biggest data science companies in USA. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.