The Manufacturers Life Insurance Company Raises Stock Holdings in MongoDB, Inc. (NASDAQ:MDB)

The Manufacturers Life Insurance Company grew its holdings in MongoDB, Inc. (NASDAQ:MDB) by 16.5% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 27,079 shares of the company’s stock after buying an additional 3,836 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in MongoDB were worth $6,762,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in MDB. MBB Public Markets I LLC purchased a new position in MongoDB in the second quarter worth about $1,360,000. APG Asset Management N.V. grew its stake in shares of MongoDB by 7.6% during the 2nd quarter. APG Asset Management N.V. now owns 61,241 shares of the company’s stock valued at $14,283,000 after acquiring an additional 4,313 shares during the period. APG Asset Management US Inc. raised its position in shares of MongoDB by 2.4% during the 2nd quarter. APG Asset Management US Inc. now owns 22,567 shares of the company’s stock valued at $5,947,000 after purchasing an additional 527 shares during the period. Caxton Associates LP boosted its stake in shares of MongoDB by 105.9% in the second quarter. Caxton Associates LP now owns 17,500 shares of the company’s stock worth $4,374,000 after acquiring an additional 9,000 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in shares of MongoDB during the second quarter valued at approximately $52,131,000. Institutional investors own 89.29% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on MDB. Stifel Nicolaus lifted their price objective on shares of MongoDB from $300.00 to $325.00 and gave the stock a “buy” rating in a research note on Friday, August 30th. Sanford C. Bernstein upped their price target on shares of MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a report on Friday, August 30th. Truist Financial lifted their price objective on shares of MongoDB from $300.00 to $320.00 and gave the company a “buy” rating in a report on Friday, August 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $350.00 target price on shares of MongoDB in a research report on Friday, August 30th. Finally, Piper Sandler raised their price objective on MongoDB from $300.00 to $335.00 and gave the stock an “overweight” rating in a report on Friday, August 30th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the stock. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $337.56.

Insider Buying and Selling at MongoDB

In related news, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $231.00, for a total transaction of $462,000.00. Following the transaction, the director now owns 1,140,006 shares of the company’s stock, valued at $263,341,386. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other MongoDB news, Director Dwight A. Merriman sold 3,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $290.79, for a total transaction of $872,370.00. Following the transaction, the director now owns 1,135,006 shares in the company, valued at approximately $330,048,394.74. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Dwight A. Merriman sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $231.00, for a total value of $462,000.00. Following the completion of the sale, the director now directly owns 1,140,006 shares of the company’s stock, valued at $263,341,386. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 20,896 shares of company stock worth $5,448,410. 3.60% of the stock is owned by company insiders.

MongoDB Stock Performance

NASDAQ MDB opened at $265.36 on Friday. The company has a fifty day moving average of $261.97 and a two-hundred day moving average of $290.47. The company has a debt-to-equity ratio of 0.84, a current ratio of 5.03 and a quick ratio of 5.03. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62. The company has a market capitalization of $19.46 billion, a PE ratio of -94.43 and a beta of 1.15.

MongoDB (NASDAQ:MDB) last announced its earnings results on Thursday, August 29th. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.21. MongoDB had a negative return on equity of 15.06% and a negative net margin of 12.08%. The firm had revenue of $478.11 million during the quarter, compared to analysts’ expectations of $465.03 million. During the same period in the prior year, the firm earned ($0.63) EPS. The business’s revenue was up 12.8% on a year-over-year basis. As a group, analysts expect that MongoDB, Inc. will post -2.44 earnings per share for the current year.

MongoDB Company Profile

MongoDB, Inc, together with its subsidiaries, provides general purpose database platform worldwide. The company provides MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server for enterprise customers to run in the cloud, on-premises, or in a hybrid environment; and Community Server, a free-to-download version of its database, which includes the functionality that developers need to get started with MongoDB.