Royal London Asset Management Ltd. Acquires 2,266 Shares of MongoDB, Inc. (NASDAQ:MDB)

Royal London Asset Management Ltd. boosted its stake in MongoDB, Inc. (NASDAQ:MDB) by 8.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 30,096 shares of the company’s stock after acquiring an additional 2,266 shares during the period. Royal London Asset Management Ltd.’s holdings in MongoDB were worth $7,007,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Geode Capital Management LLC raised its position in shares of MongoDB by 2.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,230,036 shares of the company’s stock worth $331,776,000 after acquiring an additional 34,814 shares in the last quarter. Amundi increased its position in MongoDB by 86.2% during the 4th quarter. Amundi now owns 693,740 shares of the company’s stock valued at $172,519,000 after buying an additional 321,186 shares in the last quarter. Westfield Capital Management Co. LP grew its stake in shares of MongoDB by 1.5% in the third quarter. Westfield Capital Management Co. LP now owns 496,248 shares of the company’s stock worth $134,161,000 after acquiring an additional 7,526 shares during the last quarter. Raymond James Financial Inc. bought a new position in shares of MongoDB during the fourth quarter valued at $90,478,000. Finally, Holocene Advisors LP raised its position in shares of MongoDB by 22.6% in the 3rd quarter. Holocene Advisors LP now owns 362,603 shares of the company’s stock worth $98,030,000 after purchasing an additional 66,730 shares during the last quarter. 89.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other MongoDB news, insider Cedric Pech sold 287 shares of MongoDB 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 sale, the insider now owns 24,390 shares of the company’s stock, valued at $5,709,455.10. The trade was a 1.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Thomas Bull sold 169 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $234.09, for a total value of $39,561.21. Following the transaction, the chief accounting officer now owns 14,899 shares of the company’s stock, valued at $3,487,706.91. This represents a 1.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,139 shares of company stock worth $11,328,869 in the last 90 days. 3.60% of the stock is currently owned by corporate insiders.

MongoDB Trading Up 1.7 %

NASDAQ:MDB opened at $192.54 on Monday. The stock has a 50-day moving average price of $250.97 and a 200 day moving average price of $269.40. The stock has a market capitalization of $14.34 billion, a P/E ratio of -70.27 and a beta of 1.30. MongoDB, Inc. has a 12-month low of $173.13 and a 12-month high of $387.19.

MongoDB (NASDAQ:MDB) last announced its quarterly earnings data on Wednesday, March 5th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.64 by ($0.45). MongoDB had a negative net margin of 10.46% and a negative return on equity of 12.22%. The company had revenue of $548.40 million for the quarter, compared to analysts’ expectations of $519.65 million. During the same period last year, the business earned $0.86 earnings per share. On average, research analysts predict that MongoDB, Inc. will post -1.78 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented on MDB shares. Barclays cut their price objective on shares of MongoDB from $330.00 to $280.00 and set an “overweight” rating on the stock in a research report on Thursday, March 6th. Truist Financial lowered their target price on shares of MongoDB from $400.00 to $300.00 and set a “buy” rating on the stock in a research note on Thursday, March 6th. Oppenheimer reduced their price target on shares of MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research note on Thursday, March 6th. Royal Bank of Canada lowered their price objective on shares of MongoDB from $400.00 to $320.00 and set an “outperform” rating on the stock in a research report on Thursday, March 6th. Finally, DA Davidson lifted their target price on shares of MongoDB from $340.00 to $405.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Seven research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $320.70.

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.