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Principal Financial Group Inc. cut its holdings in shares of MongoDB, Inc. (NASDAQ:MDB – Free Report) by 20.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,798 shares of the company’s stock after selling 1,201 shares during the quarter. Principal Financial Group Inc.’s holdings in MongoDB were worth $842,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of MongoDB by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 7,328,745 shares of the company’s stock valued at $1,706,205,000 after purchasing an additional 23,942 shares during the period. Franklin Resources Inc. raised its holdings in shares of MongoDB by 9.7% in the 4th quarter. Franklin Resources Inc. now owns 2,054,888 shares of the company’s stock valued at $478,398,000 after purchasing an additional 181,962 shares during the period. Geode Capital Management LLC raised its holdings in shares of MongoDB by 1.8% in the 4th quarter. Geode Capital Management LLC now owns 1,252,142 shares of the company’s stock valued at $290,987,000 after purchasing an additional 22,106 shares during the period. First Trust Advisors LP raised its holdings in shares of MongoDB by 12.6% in the 4th quarter. First Trust Advisors LP now owns 854,906 shares of the company’s stock valued at $199,031,000 after purchasing an additional 95,893 shares during the period. Finally, Norges Bank bought a new stake in shares of MongoDB in the 4th quarter valued at about $189,584,000. 89.29% of the stock is owned by institutional investors.
Insider Activity at MongoDB
In related news, Director Dwight A. Merriman sold 820 shares of the company’s stock in a transaction that occurred on Wednesday, June 25th. The shares were sold at an average price of $210.84, for a total transaction of $172,888.80. Following the sale, the director owned 1,106,186 shares of the company’s stock, valued at approximately $233,228,256.24. This represents a 0.07% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Hope F. Cochran sold 1,174 shares of the company’s stock in a transaction that occurred on Tuesday, June 17th. The stock was sold at an average price of $201.08, for a total transaction of $236,067.92. Following the sale, the director directly owned 21,096 shares in the company, valued at $4,241,983.68. This trade represents a 5.27% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 32,746 shares of company stock worth $7,500,196. 3.10% of the stock is owned by corporate insiders.
Analyst Ratings Changes
MDB has been the topic of a number of research reports. Needham & Company LLC reiterated a “buy” rating and issued a $270.00 price target on shares of MongoDB in a research note on Thursday, June 5th. Loop Capital lowered shares of MongoDB from a “buy” rating to a “hold” rating and decreased their target price for the stock from $350.00 to $190.00 in a research report on Tuesday, May 20th. JMP Securities restated a “market outperform” rating and set a $345.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Wedbush restated an “outperform” rating and set a $300.00 target price on shares of MongoDB in a research report on Thursday, June 5th. Finally, Truist Financial decreased their target price on shares of MongoDB from $300.00 to $275.00 and set a “buy” rating on the stock in a research report on Monday, March 31st. Nine research analysts have rated the stock with a hold rating, twenty-six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $281.35.
Get Our Latest Stock Analysis on MDB
MongoDB Price Performance
Shares of NASDAQ MDB opened at $221.21 on Friday. The stock has a market capitalization of $18.08 billion, a P/E ratio of -194.04 and a beta of 1.41. The company has a 50-day moving average price of $202.71 and a 200-day moving average price of $213.05. MongoDB, Inc. has a 1 year low of $140.78 and a 1 year high of $370.00.
MongoDB (NASDAQ:MDB – Get Free Report) last issued its quarterly earnings data on Wednesday, June 4th. The company reported $1.00 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.65 by $0.35. MongoDB had a negative net margin of 4.09% and a negative return on equity of 3.16%. The firm had revenue of $549.01 million during the quarter, compared to analysts’ expectations of $527.49 million. During the same period last year, the company earned $0.51 earnings per share. The business’s revenue was up 21.8% on a year-over-year basis. As a group, equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal 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.
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