Principal Financial Group Inc. Acquires 160 Shares of MongoDB, Inc. (NASDAQ:MDB)

Principal Financial Group Inc. raised its stake in shares of MongoDB, Inc. (NASDAQ:MDB) by 2.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,095 shares of the company’s stock after buying an additional 160 shares during the period. Principal Financial Group Inc.’s holdings in MongoDB were worth $1,648,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swedbank AB boosted its position in MongoDB by 156.3% during the second quarter. Swedbank AB now owns 656,993 shares of the company’s stock worth $164,222,000 after purchasing an additional 400,705 shares during the period. Thrivent Financial for Lutherans grew its stake in MongoDB by 1,098.1% in the 2nd quarter. Thrivent Financial for Lutherans now owns 424,402 shares of the company’s stock valued at $106,084,000 after buying an additional 388,979 shares during the last quarter. Blair William & Co. IL raised its holdings in MongoDB by 16.4% in the 2nd quarter. Blair William & Co. IL now owns 315,830 shares of the company’s stock worth $78,945,000 after acquiring an additional 44,608 shares during the period. Fiera Capital Corp raised its holdings in MongoDB by 1.5% in the 2nd quarter. Fiera Capital Corp now owns 231,915 shares of the company’s stock worth $57,969,000 after acquiring an additional 3,525 shares during the period. Finally, Point72 Asset Management L.P. acquired a new position in MongoDB during the 2nd quarter worth $52,131,000. Institutional investors and hedge funds own 89.29% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. Sanford C. Bernstein lifted their price objective on MongoDB from $358.00 to $360.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Truist Financial upped their price target on MongoDB from $300.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, August 30th. Oppenheimer raised their price objective on shares of MongoDB from $300.00 to $350.00 and gave the stock an “outperform” rating in a research note on Friday, August 30th. Morgan Stanley upped their target price on shares of MongoDB from $320.00 to $340.00 and gave the company an “overweight” rating in a research note on Friday, August 30th. Finally, Barclays raised their price target on shares of MongoDB from $290.00 to $345.00 and gave the stock an “overweight” rating in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, five have issued a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $336.54.

MongoDB Stock Performance

NASDAQ MDB opened at $332.50 on Friday. The firm has a market cap of $24.56 billion, a price-to-earnings ratio of -110.24 and a beta of 1.15. The company has a current ratio of 5.03, a quick ratio of 5.03 and a debt-to-equity ratio of 0.84. MongoDB, Inc. has a 1-year low of $212.74 and a 1-year high of $509.62. The company has a 50 day moving average of $278.10 and a 200-day moving average of $272.88.

MongoDB (NASDAQ:MDB) last posted its quarterly earnings data on Thursday, August 29th. The company reported $0.70 EPS for the quarter, topping 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 company had revenue of $478.11 million for the quarter, compared to analyst estimates of $465.03 million. During the same quarter in the previous year, the firm earned ($0.63) earnings per share. The business’s revenue was up 12.8% on a year-over-year basis. On average, equities analysts forecast that MongoDB, Inc. will post -2.39 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Michael Lawrence Gordon sold 5,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $290.31, for a total transaction of $1,451,550.00. Following the transaction, the chief financial officer now owns 80,307 shares of the company’s stock, valued at $23,313,925.17. This represents a 5.86 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Dwight A. Merriman sold 3,000 shares of MongoDB stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $256.25, for a total value of $768,750.00. Following the completion of the sale, the director now owns 1,131,006 shares of the company’s stock, valued at approximately $289,820,287.50. The trade was a 0.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 25,600 shares of company stock valued at $7,034,249. Insiders own 3.60% of the company’s stock.

MongoDB 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.