Principal Financial Group Inc. Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

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Principal Financial Group Inc. Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

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Principal Financial Group Inc. grew its position in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 46.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 67,075 shares of the company’s stock after purchasing an additional 21,171 shares during the period. Principal Financial Group Inc. owned approximately 0.09% of MongoDB worth $23,199,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in MDB. Duality Advisers LP grew its holdings in shares of MongoDB by 3.2% in the third quarter. Duality Advisers LP now owns 5,373 shares of the company’s stock valued at $1,858,000 after purchasing an additional 166 shares in the last quarter. Cullen Frost Bankers Inc. bought a new position in MongoDB during the third quarter valued at $35,000. Olympiad Research LP grew its stake in shares of MongoDB by 58.0% in the 3rd quarter. Olympiad Research LP now owns 1,940 shares of the company’s stock worth $671,000 after buying an additional 712 shares in the last quarter. FDx Advisors Inc. increased its holdings in shares of MongoDB by 14.0% in the 3rd quarter. FDx Advisors Inc. now owns 792 shares of the company’s stock worth $274,000 after buying an additional 97 shares during the last quarter. Finally, CloudAlpha Capital Management Limited Hong Kong raised its position in shares of MongoDB by 410.0% during the 3rd quarter. CloudAlpha Capital Management Limited Hong Kong now owns 5,100 shares of the company’s stock valued at $1,764,000 after buying an additional 4,100 shares in the last quarter. 88.89% of the stock is owned by institutional investors.

Insider Activity

In other MongoDB news, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $345.21, for a total value of $345,210.00. Following the completion of the transaction, the director now directly owns 533,896 shares in the company, valued at $184,306,238.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CAO Thomas Bull sold 359 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $404.38, for a total value of $145,172.42. Following the completion of the sale, the chief accounting officer now owns 16,313 shares of the company’s stock, valued at approximately $6,596,650.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Dwight A. Merriman sold 1,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $345.21, for a total value of $345,210.00. Following the transaction, the director now owns 533,896 shares in the company, valued at $184,306,238.16. The disclosure for this sale can be found here. In the last three months, insiders have sold 149,277 shares of company stock worth $57,223,711. 4.80% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on MDB. DA Davidson reissued a “neutral” rating and set a $405.00 price objective on shares of MongoDB in a research note on Friday. Stifel Nicolaus reiterated a “buy” rating and issued a $450.00 target price on shares of MongoDB in a report on Monday, December 4th. JMP Securities restated a “market outperform” rating and set a $440.00 price target on shares of MongoDB in a report on Monday, January 22nd. Piper Sandler raised their price target on MongoDB from $425.00 to $500.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 6th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $495.00 price objective on shares of MongoDB in a research report on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $429.50.

Get Our Latest Research Report on MongoDB

MongoDB Stock Down 1.3 %

Shares of MongoDB stock opened at $395.29 on Friday. MongoDB, Inc. has a 1 year low of $189.59 and a 1 year high of $442.84. The company has a debt-to-equity ratio of 1.18, a current ratio of 4.74 and a quick ratio of 4.74. The stock has a market cap of $28.53 billion, a price-to-earnings ratio of -149.73 and a beta of 1.23. The firm’s 50-day moving average is $402.37 and its two-hundred day moving average is $380.93.

MongoDB (NASDAQ:MDB – Get Free Report) last released its quarterly earnings data on Tuesday, December 5th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.45. The firm had revenue of $432.94 million for the quarter, compared to the consensus estimate of $406.33 million. MongoDB had a negative net margin of 11.70% and a negative return on equity of 20.64%. The company’s quarterly revenue was up 29.8% on a year-over-year basis. During the same period last year, the firm earned ($1.23) earnings per share. As a group, research analysts expect that MongoDB, Inc. will post -1.64 earnings per share for the current fiscal year.

MongoDB Profile

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MongoDB, Inc provides general purpose database platform worldwide. The company offers 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-premise, 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.

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