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On September 5, 2023, it was reported that Principal Financial Group Inc. had reduced its stake in MongoDB, Inc. by 16.4% during the first quarter of the year. According to the filing with the Securities and Exchange Commission, the institutional investor now owns 7,068 shares of MongoDB’s stock after selling 1,384 shares.
The value of Principal Financial Group Inc.’s holdings in MongoDB amounted to $1,648,000 as of their most recent filing with the Securities and Exchange Commission. This move by the financial group suggests a shift in their investment strategy or outlook on MongoDB’s future performance.
MongoDB, Inc. is a global provider of a general-purpose database platform. The company offers several products and services including MongoDB Atlas, a hosted multi-cloud database-as-a-service solution; MongoDB Enterprise Advanced, a commercial database server designed for enterprise customers to run either in the cloud, on-premise or in hybrid environments; and Community Server, which is a free-to-download version of its database that includes functionality for developers to get started with MongoDB.
As per data from NASDAQ on September 5th, MDB opened at $392.88 on Tuesday. The stock has shown a 50-day moving average price of $390.24 and a 200-day moving average price of $306.34. In terms of its yearly performance, MDB’s lowest point over the past twelve months was recorded at $135.15 while its highest point stood at $439.00.
With a market capitalization of $27.73 billion and a P/E ratio of -113.55, MongoDB holds significant presence in the industry it operates in despite reporting negative earnings per share (EPS). Its beta stands at 1.11 indicating moderate volatility compared to the market average.
MongoDB also maintains healthy liquidity ratios with both quick ratio and current ratio standing at 4.19 as reported in the most recent financial statements. These ratios signify the company’s ability to cover short-term obligations and suggest a stable financial position.
While Principal Financial Group Inc.’s decision to reduce its stake in MongoDB may have caught attention, it is important to note that investment decisions are complex and subject to various factors and considerations. Investors and analysts alike will be interested in watching how this adjustment by Principal Financial Group Inc. influences MongoDB’s future trajectory and if there will be further developments in their relationship moving forward.
Updated on: 06/09/2023
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Institutional Investors Show Confidence in MongoDB’s Future, Directors Sell Off Shares
September 5, 2023 – In recent news, there have been notable changes in the positions of hedge funds and institutional investors regarding the stock of MongoDB, Inc. These changes reflect a degree of confidence or skepticism held by these entities towards the company’s future prospects.
Cherry Creek Investment Advisors Inc. increased its stake in MongoDB by a modest 1.5% during the fourth quarter, acquiring an additional 50 shares. With this purchase, Cherry Creek now owns a total of 3,283 shares valued at $646,000. Similarly, CWM LLC also raised its position in MongoDB by 2.4% during the first quarter by purchasing an additional 52 shares. CWM LLC now holds 2,235 shares worth $521,000.
Cetera Advisor Networks LLC showed even more confidence in the company’s potential as it raised its position by 7.4% during the second quarter. The firm purchased an additional 59 shares, bringing its total holdings to 860 shares valued at $223,000. First Republic Investment Management Inc., on the other hand, took a more conservative approach but still increased its stake in MongoDB by 1%, equivalent to purchasing an additional 61 shares worth $1,261,000.
Janney Montgomery Scott LLC made a similar move and raised its holdings in MongoDB by 4.5% during the fourth quarter. This increase amounted to an acquisition of an extra 65 shares valued at approximately $298,000. Collectively, these institutional investors now own approximately 88.89% of the company’s stock.
In other significant news relating to MongoDB’s stock activity and ownership structure:
Director Hope F.Cochran sold off a considerable number of shares recently; specifically, on June 15thAmounting to a total value of $811315USD having sold-off roughly2174 sharesHope F.Cochran retained ownership over further8200 remaining shares
The company’s stock activity also saw Director Dwight A. Merriman undertake a similar move by disposing of 1000 shares on July 18th. The sale was completed at an average price of $420 per share, resulting in a total transaction value of $420,000. After the sale, Dwight A. Merriman currently owns 1,213,159 shares in the company valued at approximately $509,526,780.
These transactions were disclosed in filings with the Securities & Exchange Commission (SEC), aiming to provide transparency and accountability to investors. Interested individuals may access these filings via the official SEC website.
As a whole for this quarter alone-related insider dealings-includes multiple sales totaling 76,551 stocksUltimately representing near $31 million sold(stock value), those within work or directly associated accounted for around4.80% of the corporation’s complete stockheld.
MongoDB Inc., based in the United States, operates as a provider of general-purpose database platforms to clients worldwide. The company offers various products such as MongoDB Atlas and MongoDB Enterprise Advanced to cater to different business needs.
MongoDB Atlas is a hosted multi-cloud database-as-a-service solution that enables users to access databases from various cloud platforms seamlessly. Meanwhile, MongoDB Enterprise Advanced caters specifically to enterprise customers who require commercial database servers that can operate in multiple environments – cloud-based, on-premise, or hybrid solutions.
In addition to its paid offerings, MongoDB also provides Community Server – a free-to-download version of its database platform designed specifically with developers in mind. This version includes essential functionality required for developers exploring their initial steps into implementing MongoDB technology.
Recently, several analysts have commented on the stock’s performance and provided recommendations for potential investors. KeyCorp analysts boosted their target price from $372 to $462 while issuing an “overweight” rating for the stock back on July 21st. Truist Financial followed suit by raising their target price from $420 to $430 and also giving the stock a “buy” rating.
Capital One Financial began coverage on MongoDB stock on June 26th, providing an “equal weight” rating alongside a target price of $396. Meanwhile, Stifel Nicolaus analysts increased their target price from $420 to $450, giving the stock a “buy” rating. Lastly, Barclays analysts increased their target price from $421 to $450 and also provided an “overweight” rating for the stock on Friday.
According to Bloomberg data, one research analyst has assigned a sell rating for MongoDB’s stock, three have given it a hold rating, and twenty have recommended buying shares in the company.
Based on these various assessments and recommendations by experts and financial institutions alike, MongoDB Inc. appears to be experiencing favorable attention in terms of its investment potential. While individual investors should conduct further research into the company, its offerings, and overall market conditions that may affect the stock’s performance; this collection of insights serves as an important starting point for anyone considering investment opportunities within this industry.
For updated analysis regarding MongoDB Inc.’s stock performance or more comprehensive information derived through detailed research findings it is suggested readers keep in mind regular updates published by reputable financial publications or consult with certified finance professionals prior to