5 Stocks to Sell According to Chase Coleman’s Tiger Global

4. MongoDB, Inc. (NASDAQ:MDB)

Number of Hedge Fund Holders: 61

MongoDB, Inc. (NASDAQ:MDB) is a New York-based firm that offers on-demand commercial database servers for enterprise customers. Chase Coleman’s Tiger Global has held a position in MongoDB, Inc. (NASDAQ:MDB) since Q4 2017, except for a minor break in Q4 2018. In the fourth quarter of 2021, Tiger Global held 82,000 shares of the company worth $43.4 million. The hedge fund disposed of its stake in Q1 2022. 

Barclays analyst Raimo Lenschow lowered the firm’s price target on MongoDB, Inc. (NASDAQ:MDB) to $330 from $410 and reiterated an Overweight rating on the shares on May 20. The analyst’s software reseller survey results illustrate that demand trends and expectations “took a step back from the prior quarter”. He prefers Intuit, Splunk, and Workday for the off-cycle Q1 earnings.

According to Insider Monkey’s first quarter data, 61 hedge funds placed long calls on MongoDB, Inc. (NASDAQ:MDB), up from 56 funds in the preceding quarter. Alex Sacerdote’s Whale Rock Capital Management is a notable shareholder of the company, with 493,588 shares worth about $219 million.