Resona Asset Management Co. Ltd. Makes New $4.87 Million Investment in MongoDB, Inc. (NASDAQ:MDB)

Resona Asset Management Co. Ltd. bought a new stake in shares of MongoDB, Inc. (NASDAQ:MDB) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 20,845 shares of the company’s stock, valued at approximately $4,866,000.

Several other hedge funds also recently modified their holdings of MDB. Prudential PLC lifted its position in shares of MongoDB by 55.9% during the fourth quarter. Prudential PLC now owns 3,444 shares of the company’s stock worth $802,000 after purchasing an additional 1,235 shares in the last quarter. Uniting Wealth Partners LLC acquired a new stake in MongoDB during the fourth quarter worth about $698,000. Cinctive Capital Management LP bought a new position in shares of MongoDB during the fourth quarter worth about $12,949,000. Trexquant Investment LP raised its holdings in shares of MongoDB by 11.0% during the fourth quarter. Trexquant Investment LP now owns 72,493 shares of the company’s stock valued at $16,877,000 after buying an additional 7,203 shares during the last quarter. Finally, Headlands Technologies LLC bought a new stake in MongoDB during the 4th quarter valued at $2,278,000. 89.29% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts have issued reports on MDB shares. Rosenblatt Securities reaffirmed a “buy” rating and set a $350.00 price target on shares of MongoDB in a research note on Tuesday, March 4th. Piper Sandler reduced their price target on shares of MongoDB from $425.00 to $280.00 and set an “overweight” rating for the company in a research report on Thursday, March 6th. Oppenheimer decreased their price objective on MongoDB from $400.00 to $330.00 and set an “outperform” rating for the company in a research report on Thursday, March 6th. Canaccord Genuity Group decreased their target price on shares of MongoDB from $385.00 to $320.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Finally, Stifel Nicolaus lowered their price target on MongoDB from $425.00 to $340.00 and set a “buy” rating for the company in a research note on Thursday, March 6th. Seven analysts have rated the stock with a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, MongoDB presently has an average rating of “Moderate Buy” and a consensus price target of $312.84.

MongoDB Stock Performance

Shares of MDB opened at $145.85 on Wednesday. The stock’s 50-day simple moving average is $228.92 and its 200 day simple moving average is $259.09. The stock has a market capitalization of $11.84 billion, a price-to-earnings ratio of -53.23 and a beta of 1.49. MongoDB, Inc. has a 52-week low of $140.78 and a 52-week high of $387.19.

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

Insider Transactions at MongoDB

In other MongoDB news, Director Dwight A. Merriman sold 1,045 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $242.67, for a total value of $253,590.15. Following the transaction, the director now directly owns 85,652 shares in the company, valued at approximately $20,785,170.84. This trade represents a 1.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Srdjan Tanjga sold 525 shares of MongoDB stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $173.26, for a total transaction of $90,961.50. Following the transaction, the chief financial officer now owns 6,406 shares in the company, valued at approximately $1,109,903.56. This trade represents a 7.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 58,060 shares of company stock valued at $13,461,875. Company insiders own 3.60% of the company’s stock.

About MongoDB

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.