MongoDB, Inc. $MDB Shares Purchased by Legal & General Group Plc

Legal & General Group Plc boosted its stake in MongoDB, Inc. (NASDAQ:MDB) by 2.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 530,344 shares of the company’s stock after acquiring an additional 12,590 shares during the period. Legal & General Group Plc’s holdings in MongoDB were worth $164,608,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of MDB. Huntington National Bank increased its position in MongoDB by 110.9% during the third quarter. Huntington National Bank now owns 97 shares of the company’s stock worth $30,000 after buying an additional 51 shares in the last quarter. TD Private Client Wealth LLC lifted its position in shares of MongoDB by 2,825.0% in the third quarter. TD Private Client Wealth LLC now owns 117 shares of the company’s stock valued at $36,000 after acquiring an additional 113 shares in the last quarter. Hollencrest Capital Management purchased a new stake in shares of MongoDB in the third quarter valued at $37,000. Westside Investment Management Inc. boosted its stake in shares of MongoDB by 82.1% during the third quarter. Westside Investment Management Inc. now owns 122 shares of the company’s stock valued at $39,000 after acquiring an additional 55 shares during the last quarter. Finally, Parkside Financial Bank & Trust boosted its stake in shares of MongoDB by 85.5% during the third quarter. Parkside Financial Bank & Trust now owns 141 shares of the company’s stock valued at $44,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 89.29% of the company’s stock.

Insider Buying and Selling

In other news, Director Dwight A. Merriman sold 10,000 shares of the business’s stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $407.70, for a total transaction of $4,077,000.00. Following the completion of the sale, the director directly owned 1,031,316 shares of the company’s stock, valued at $420,467,533.20. The trade was a 0.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Hope F. Cochran sold 1,566 shares of the company’s stock in a transaction on Wednesday, December 17th. The stock was sold at an average price of $421.85, for a total value of $660,617.10. Following the sale, the director owned 25,659 shares of the company’s stock, valued at approximately $10,824,249.15. The trade was a 5.75% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 21,949 shares of company stock worth $8,981,630. 3.10% of the stock is currently owned by insiders.

MongoDB Price Performance

MDB opened at $260.68 on Friday. MongoDB, Inc. has a 12 month low of $140.78 and a 12 month high of $444.72. The business has a 50-day moving average of $356.86 and a two-hundred day moving average of $352.44. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of -296.23 and a beta of 1.40.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Monday, March 2nd. The company reported $1.65 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.18. MongoDB had a negative net margin of 2.89% and a negative return on equity of 1.03%. The business had revenue of $695.07 million for the quarter, compared to analyst estimates of $669.40 million. During the same period in the prior year, the firm posted $1.28 EPS. The company’s revenue was up 26.8% on a year-over-year basis. Equities research analysts anticipate that MongoDB, Inc. will post -1.78 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup cut their target price on shares of MongoDB from $435.00 to $400.00 and set a “buy” rating for the company in a research note on Tuesday, March 3rd. KeyCorp reaffirmed a “sector weight” rating on shares of MongoDB in a research note on Tuesday, December 2nd. Piper Sandler lowered their price target on shares of MongoDB from $490.00 to $330.00 and set an “overweight” rating for the company in a report on Tuesday, March 3rd. Cantor Fitzgerald cut their price objective on shares of MongoDB from $454.00 to $378.00 and set an “overweight” rating for the company in a research report on Tuesday, March 3rd. Finally, Macquarie Infrastructure upped their price objective on shares of MongoDB from $305.00 to $385.00 and gave the company a “neutral” rating in a research note on Tuesday, December 2nd. One analyst has rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $354.18.

About MongoDB

MongoDB, Inc is a software company best known for developing MongoDB, a general-purpose, document-oriented database designed for modern application development. The company’s platform is built to support high-performance, scalable data storage and retrieval for use cases such as cloud-native applications, mobile backends, real-time analytics, and content management. MongoDB offers a mix of open-source software, commercial server distributions, and subscription-based services that include technical support, training and professional services.

The company traces its origins to 2007 when it was founded as 10gen by Dwight Merriman and Eliot Horowitz; it later adopted the MongoDB name and completed a public listing in 2017.