Sumitomo Mitsui Trust Group Inc. Increases Stock Position in MongoDB, Inc. (NASDAQ:MDB)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of MongoDB, Inc. (NASDAQ:MDB) by 12.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 195,443 shares of the company’s stock after purchasing an additional 21,308 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.26% of MongoDB worth $45,501,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Jennison Associates LLC increased its position in MongoDB by 23.6% during the third quarter. Jennison Associates LLC now owns 3,102,024 shares of the company’s stock worth $838,632,000 after buying an additional 592,038 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of MongoDB by 2.9% during 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 during the last quarter. Westfield Capital Management Co. LP increased its position in MongoDB by 1.5% during the 3rd quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after purchasing an additional 7,526 shares in the last quarter. Holocene Advisors LP lifted its holdings in MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock valued at $98,030,000 after purchasing an additional 66,730 shares in the last quarter. Finally, Assenagon Asset Management S.A. boosted its stake in shares of MongoDB by 11,057.0% during the 4th quarter. Assenagon Asset Management S.A. now owns 296,889 shares of the company’s stock worth $69,119,000 after purchasing an additional 294,228 shares during the last quarter. 89.29% of the stock is currently owned by institutional investors and hedge funds.

MongoDB Trading Up 3.1 %

MDB opened at $286.36 on Tuesday. MongoDB, Inc. has a twelve month low of $212.74 and a twelve month high of $509.62. The firm has a market cap of $21.33 billion, a price-to-earnings ratio of -104.51 and a beta of 1.28. The company has a fifty day simple moving average of $267.08 and a 200 day simple moving average of $270.83.

MongoDB (NASDAQ:MDB) last announced its earnings results on Monday, December 9th. The company reported $1.16 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.48. MongoDB had a negative return on equity of 12.22% and a negative net margin of 10.46%. The company had revenue of $529.40 million during the quarter, compared to the consensus estimate of $497.39 million. During the same period last year, the firm earned $0.96 earnings per share. The company’s revenue was up 22.3% on a year-over-year basis. On average, analysts forecast that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on MDB. Piper Sandler reissued an “overweight” rating and issued a $425.00 price objective on shares of MongoDB in a research report on Tuesday, December 10th. Morgan Stanley boosted their price target on MongoDB from $340.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, December 10th. Macquarie initiated coverage on MongoDB in a report on Thursday, December 12th. They set a “neutral” rating and a $300.00 price objective on the stock. Oppenheimer upped their target price on MongoDB from $350.00 to $400.00 and gave the company an “outperform” rating in a research note on Tuesday, December 10th. Finally, Barclays decreased their price target on MongoDB from $400.00 to $330.00 and set an “overweight” rating on the stock in a research note on Friday, January 10th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating, twenty-three have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $361.00.

Insider Buying and Selling at MongoDB

In related news, CAO Thomas Bull sold 1,000 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $355.92, for a total value of $355,920.00. Following the completion of the sale, the chief accounting officer now directly owns 15,068 shares of the company’s stock, valued at $5,363,002.56. The trade was a 6.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Cedric Pech sold 287 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $234.09, for a total value of $67,183.83. Following the transaction, the insider now directly owns 24,390 shares in the company, valued at approximately $5,709,455.10. This represents a 1.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,491 shares of company stock valued at $11,543,480 in the last three months. Corporate 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.