MongoDB, Inc. (NASDAQ:MDB) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. increased its position in MongoDB, Inc. (NASDAQ:MDB) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,095 shares of the company’s stock after purchasing an additional 160 shares during the quarter. Principal Financial Group Inc.’s holdings in MongoDB were worth $1,648,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in MDB. Jennison Associates LLC raised its position in shares of MongoDB by 23.6% in the 3rd quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock valued at $838,632,000 after purchasing an additional 592,038 shares in the last quarter. Geode Capital Management LLC raised its holdings in MongoDB by 2.9% in the third quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock valued at $331,776,000 after acquiring an additional 34,814 shares in the last quarter. Westfield Capital Management Co. LP boosted its stake in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock valued at $134,161,000 after acquiring an additional 7,526 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in MongoDB by 1,098.1% during the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock worth $106,084,000 after acquiring an additional 388,979 shares in the last quarter. Finally, Holocene Advisors LP increased its position in shares of MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after purchasing an additional 66,730 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

MongoDB Stock Performance

Shares of MDB stock opened at $246.39 on Friday. The stock has a market cap of $18.35 billion, a PE ratio of -89.92 and a beta of 1.17. The business’s fifty day moving average is $284.50 and its 200-day moving average is $268.24. MongoDB, Inc. has a 1 year low of $212.74 and a 1 year high of $509.62.

MongoDB (NASDAQ:MDB) last issued its quarterly earnings results on Monday, December 9th. The company reported $1.16 EPS for the quarter, topping the consensus estimate of $0.68 by $0.48. MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The firm had revenue of $529.40 million for the quarter, compared to analysts’ expectations of $497.39 million. During the same period in the previous year, the business earned $0.96 earnings per share. MongoDB’s revenue for the quarter was up 22.3% compared to the same quarter last year. Equities research analysts predict that MongoDB, Inc. will post -1.86 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on MDB. Mizuho increased their price target on shares of MongoDB from $275.00 to $320.00 and gave the stock a “neutral” rating in a research report on Tuesday, December 10th. Loop Capital lifted their target price on MongoDB from $315.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Robert W. Baird upped their price target on MongoDB from $380.00 to $390.00 and gave the company an “outperform” rating in a research report on Tuesday, December 10th. Truist Financial reaffirmed a “buy” rating and issued a $400.00 price objective (up previously from $320.00) on shares of MongoDB in a report on Tuesday, December 10th. Finally, JMP Securities reissued a “market outperform” rating and set a $380.00 target price on shares of MongoDB in a report on Wednesday, December 11th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, twenty-one have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $366.14.

Insider Activity at MongoDB

In other MongoDB news, Director Hope F. Cochran sold 1,175 shares of the company’s stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $266.99, for a total value of $313,713.25. Following the transaction, the director now owns 17,570 shares of the company’s stock, valued at approximately $4,691,014.30. This represents a 6.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Michael Lawrence Gordon sold 5,000 shares of the firm’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $267.85, for a total value of $1,339,250.00. Following the sale, the chief financial officer now directly owns 80,307 shares of the company’s stock, valued at approximately $21,510,229.95. This represents a 5.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 23,879 shares of company stock valued at $6,985,212 over the last ninety days. Insiders own 3.60% of the company’s stock.

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.